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President Muhammadu Buhari on Sunday cancelled his trip to Kigali for the signing of the Continental Free Trade Agreement, CFTA earlier scheduled for the 21st of March.
The Foreign Affairs Ministry had explained on Sunday in a statement that the President needs to make wider consultations before committing Nigeria’s signatory to a commitment that has the capacity to consolidate Nigeria’ position as the largest economy in the continent.
Expectedly, Nigeria most analysts said would be biggest beneficiary from the CFTA pact, given its position as Africa’s largest economy with more presence in intra-African trade, which has overall Gross Domestic Product,GDP size of $3.4 trillion.
Tiwatope Elias-Fatile,the ministry spokesperson confirme this development in statement on Sunday pointing out that President Buhari was suppose to attend the launch schedule for March 21, 2018.
The statement said, “President Muhammadu Buhari cancels trip to Kigali, Rwanda, for the launch of the African Continental Free Trade Area (AfCFTA) scheduled for March 21, 2018.
” It would be recalled that the Federal Executive Council had, at its meeting on Wednesday March 14, 2018, approved for President.
“Muhammadu Buhari to sign the African Continental Free Trade Area (AfCFTA) Treaty to be launched on March 21, 2018 at the Extraordinary Summit of the African Union in Kigali, Rwanda.
” However, President will no longer be travelling to Kigali for the event because certain key stakeholders in Nigeria indicated that they had not been consulted, for which reason they had some concerns on the provisions of the treaty.
“Consequently, President’s decision is to allow time for broader consultations on the issue”.
LAIDE AKINBOADE-ORIERE & HARRISON EDEH, ABUJA
