After over eight months of waiting, President Muhammadu Buhariwill today unveil Nigeria’s position on the Africa Continental Free Trade Area AFCFTA, agreement, as he receives reports of the Presidential Committee set up to study and make recommendations on Nigeria’s position
The President had inaugurated the committee on the 22nd of October, 2019, to carry out the “Impact and Readiness Assessment of the Africa Continental Free Trade Area, as well as to address risks associated with signing the AFCFTA agreement.
President Buhari, while setting up the committee, charged them to study the key issues raised by stakeholders, which included among others, “Abuse of rules of origin, Smuggling arising from difficulties in border controls and Un-quantified impacts of legacy preferential trade agreements;
Others include, Low capacity and capabilities of local business to conduct international trade, Cost of finance, Insufficient energy; and Transport logistics infrastructure, to mention a few.
Details later ….
Tony Ailemen, Abuja
