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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