Nigeria has endorsed the Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their utilization to the Convention on Biological Diversity (CBD), a senior government official has said.
Hadiza Ibrahim Mailafia, Nigeria’s Minister of Environment said in Abuja that the Federal Executive Council, Nigeria’s highest law making body has given the approval that the country signs the protocol.
This brings the total number of signatures to 71 while Gabon had already ratified the protocol. The Nagoya Protocol was opened for signature in February 2011. The Protocol will enter into force 90 days after deposit of the 50th instrument of ratification.
Ahmed Djoghlaf, CBD Executive Secretary, said: “The signatures are yet another sign of the growing international commitment to this unique legal instrument. I urge all signatories to expedite the ratification process so as to allow the Nagoya Protocol to enter into force in 2012, as a contribution to the United Nations Decade on Biodiversity.
The entry into force of the Nagoya Protocol will provide greater legal certainty and transparency for both providers and users of genetic resources, creating a framework that promotes the use of genetic resources and associated traditional knowledge while strengthening the opportunities for fair and equitable sharing of benefits from their use.
Hence, the Protocol will create new incentives to conserve biodiversity, sustainably use its components, and further enhance the contribution of biodiversity to sustainable development and human well-being.
The Global Environment Facility (GEF) is providing financial support for the early entry into force and effective implementation of the Nagoya Protocol through a medium-sized project of US$ 1 million under which a series of awareness-raising and capacity-building activities are being executed by the Secretariat of the CBD.
In addition, the Nagoya Protocol Implementation Fund was established by the GEF with an initial financial contribution of US$ 12.5 million from Japan.