Obafemi Oredein

Special to Dow Jones Newswires

IBADAN, Nigeria--Nigerian President Muhammadu Buhari on Tuesday ratified the International Coffee Agreement 2007 after the cabinet approved Nigeria's membership of the International Coffee Organization, an official statement said Thursday.

The agreement will strengthen the ICO's role as a forum for intergovernmental consultations, facilitate international trade through increased transparency and access to relevant information, and promote a sustainable economy for the benefit of all stakeholders and particularly small-scale farmers in coffee-producing nations, the statement said.

"The agreement is an important instrument for development cooperation and will provide the legal framework for core activities undertaken by the organization in future," it said.

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(END) Dow Jones Newswires

08-19-21 1050ET