Africa Free Trade Deal - Once Again, Buhari Disappoints Obasanjo
Former President Olusegun Obasanjo is among those who believe it is dumb of Nigeria not to sign the continental free trade agreement, CFTA.
So, Obasanjo attended the Africa CEO Forum in Abidjan on Tuesday and while participating in a panel discussion titled: “When Leaders Make History” decried the failure of President Muhammadu Buhari to sign the CFTA.
He said he hopes Buhari will change his mind soon enough.
“That President Buhari didn’t sign the free trade agreement in Kigali is disappointing; I hope he signs it before it is too late,” Obasanjo said.
He added: “Egypt started the discussion on the formation of the Organisation of African Unity but didn’t conclude it and Nigeria took over. Nigeria was also central to the discussion of the free trade agreement, but I am surprised that the country withdrew from signing.”
The CFTA treaty is one of the flagship projects of the African Union Agenda 2063 and is aimed at creating a single continental market for goods and services, with free movement of business persons, investments and a single currency.
Also, the agreement commits countries to removing tariffs on 90% of goods and to liberalise services, while items identified as sensitive, which make up the balance 10%, will also be phased out later as tariff-free.
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