Buhari To Receive Africa Free Trade Area Deal Report In January
As you may already, Nigeria still sits on the fence about signing the Africa Continental Free Trade Area agreement.
To consider the possibility of signing it, President Muhammadu had set up a committee to understudy the deal and see what is in it for the country.
That committee - the Presidential Steering Committee on the African Continental Free Trade Area (AfCFTA) Impact and Readiness Assessment – has done its job and will present its recommendations to President Muhammadu Buhari by January 2019.
In case you have forgotten, the AfCFTA agreement seeks to remove all forms of restrictions to trade and investment flows within the African continent.
The committee was inaugurated on October 22, 2018 by President Buhari and given 12 weeks to conclude its assignment.
The committee, had while carrying out its assignment, held wide consultations with industry groups and stakeholders, including the Manufacturers Association of Nigeria, MAN.
While opinion is still divided in Nigeria on the merits and demerits as well as the timing of joining the AfCFTA, the committee commissioned a study to shed more light on the public debate on the issue.
As at December 2018, 49 countries have already signed the AfCFTA agreement and 13 countries have already ratified it. The agreement will become binding and implementation can begin once 22 states have ratified it.
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