President Muhammadu Buhari has signed the Instrument of Accession to the International Cocoa Agreement , 2010.A statement signed by Senior Special Assistant on Media and Publicity to the President, Garba Shehu , yesterday, said the decision came following the approval by the Federal Executive Council (FEC) for Nigeria to accede to the agreement .
According to the statement , with the execution of the instrument of accession , Nigeria undertakes “ faithfully to abide by all the stipulations therein contained” in the agreement ,The agreement, among other benefits , is expected to strengthen co-operation between exporting and importing member – countries, improve their cocoa economies through active and better- focused project development and strategies for capacity building.
It 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.”
