Audio By Carbonatix
The continent’s biggest economy, Nigeria announced on Wednesday that it would sign the Africa free trade agreement at the coming African Union summit.
Nigeria was one of the last countries that had not committed to signing the deal and its decision to join the bloc will significantly bolster its clout.
The African Continental Free Trade Agreement (AfCFTA) aims to eliminate tariffs between member states, creating a market of 1.2 billion people with a combined GDP of more than $2.2 trillion.
Nigeria was one of the last countries that had not committed to signing the deal and its decision to join the bloc will significantly bolster its clout.
The African Continental Free Trade Agreement (AfCFTA) aims to eliminate tariffs between member states, creating a market of 1.2 billion people with a combined GDP of more than $2.2 trillion.
Apart from Nigeria, only Eritrea and Benin have chosen not to join the zone. President Muhammadu Buhari had expressed concern it could allow neighbouring countries to inundate Nigeria with low-priced goods, and confound efforts to encourage moribund local manufacturing and expand farming.
But a panel set up to assess the impact of joining the bloc recommended last week the president “should consider joining.”
“Our position is very simple, we support free trade as long as it is fair and conducted on an equitable basis,” the Twitter feed quoted Buhari as saying.
It added Nigeria would sign onto the deal at an upcoming African Union summit in Niamey, Niger. The agreement with the other signatories came into force on May 30.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Techiman hosts historic launch of GJA Bono East Chapter: Regional pact for balanced journalism
39 minutes -
Kasoa: Boy, 6, drowns in open water tank while retrieving football
59 minutes -
Five-year-old boy dies after getting caught in ski travelator
3 hours -
‘This is an abuse of trust’- PUWU-TUC slams gov’t over ECG privatisation plans
3 hours -
Children should be protected from home fires – GNFS
3 hours -
Volta Regional Minister urges unity, respect for Chief Imam’s ruling after Ho central mosque shooting
4 hours -
$214M in gold-for-reserves programme not a loss, Parliament’s economy chair insists it’s a transactional cost
4 hours -
Elegant homes estate unveils ultra-modern sports complex in Katamanso
4 hours -
ECG can be salvaged without private investors -TUC Deputy Secretary-General
4 hours -
Two pilots killed after mid-air helicopter collision in New Jersey
5 hours -
2025 in Review: Fire, power and the weight of return (January – March)
5 hours -
Washington DC NPP chairman signals bid for USA chairmanship
5 hours -
Sheikh Ali Muniru remains Volta regional Imam, says National chief Imam
5 hours -
GoldBod CEO accuses Minority of hypocrisy over Gold-for-Reserves losses
6 hours -
Sammy Gyamfi to address alleged losses under gold for reserves programme on Jan 5
6 hours
