- President Muhammadu Buhari has signed Instrument of Accession to the International Cocoa Agreement
- The agreement is expected to benefit Nigerian farmers
- It will also help the country’s export and importn arrangement with other countries
President Muhammadu Buhari on Monday in Abuja signed the Instrument of Accession to the International Cocoa Agreement, 2010.
Malam Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, who confirmed this in a statement in Abuja, said the signing of the Agreement followed its approval by the Federal Executive Council.
According to him, with the execution of the instrument of accession, Nigeria undertakes “faithfully to abide by all the stipulations therein contained” in the Agreement.
Shehu listed other benefits of the Agreement to include strengthening cooperation between exporting and importing member countries.
He said that the agreement was expected to improve their cocoa economies through active and better focused project development and strategies for capacity-building.
He said: “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.’’
It will be recalled that Yemi Kale, the statistician-general of the federation, said that Nigeria’s economy has not recovered from the 2016 recession.
Being a chief executive officer of the National Bureau of Statistics (NBS), Kale said that the rampant clashes between farmers and herdsmen had dragged down the Gross Domestic Product (GDP) in the first quarter of 2018.
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