BEVERLY HILLS, August 20, (THEWILL) – Sequel to the Federal Executive Council (FEC) approval for Nigeria to accede to the International Cocoa Agreement, 2010, President Muhammadu Buhari on Monday, at the State House, Abuja, signed the Instrument of Accession to the International Cocoa Agreement, 2010.
This was revealed in a statement by Garba Shehu, Senior Special Assistant to the President on Media and Publicity, stating that following the execution of the instrument of accession, Nigeria now undertakes to abide faithfully 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 statement read.
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.”
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