President Buhari Signs New Agreement
President Muhammadu Buhari on Monday, August 20, in the State House, Abuja, signed the Instrument of Accession to the International Cocoa Agreement, 2010 in accordance with the Federal Executive Council (FEC) approval.
The instrument, according to Mallam Garba Shehu, his senior special assistant on media, would propel Nigeria’s accession to the International Cocoa Agreement, 2010.
He further disclosed that it would among other benefits, strengthen cooperation between exporting and importing member countries, improve their cocoa economies through active and better focused project development and strategies for capacity-building.
He said: “Following the execution of the instrument of accession, Nigeria undertakes “faithfully to abide by all the stipulations therein contained” in the Agreement.
“Among other benefits, the Agreement is expected to strengthen cooperation between exporting and importing member countries; improve their cocoa economies through active and better-focused project development and strategies for capacity-building.”
“The 2010 agreement is also expected to build on the successes of the 2001 agreement by “implementing measures leading to an increase in the income of cocoa farmers and by supporting cocoa producers in improving the functioning of their cocoa economies.”
It will also, “deliver cocoa of better quality, take effective account of food-safety issues and help establish social, economic and environmental sustainability, so that farmers are rewarded for producing cocoa that meets ethical and environmental considerations.”