Abuja Chamber Asks Buhari To Sign African Free Trade Agreement
Nigeria is still contemplating whether to sign the Africa Continental Free Trade Agreement or not.
As far as the stakeholders are concerned, they are still divided over signing the agreement as there appears to be no consensus as to whether this is a good deal for Nigeria.
The Nigeria Labour Congress, for instance has said not to sign.
Manufacturers Association of Nigeria, MAN said take a second look at the agreement and the Lagos Chamber of Commerce and Industry, LCCI said don’t sign.
But the the Abuja Chamber of Commerce and Industry, ACCI said Nigeria should go ahead and sign.
The ACCI said there were inherent benefits to the agreement which Nigeria won’t enjoy unless it signs the pact.
The President of the ACCI, Adetokunbo Kayode, says by opting out of the deal, businesses operating in Nigeria would not have access to the over 1.2 billion consumers on the continent.
The Federal Executive Council had on March 14 approved that Nigeria should sign the framework agreement for the establishment of the initiative.
But few days to the signing of the agreement, President Muhammadu Buhari opted out of the African Union meeting where the pact was to be endorsed by 55 African countries.
The President said he withheld his assent to enable the Federal Government to consult more on the possible impact on the economy.
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