Federal Government has said that the proposed launching of African single trade market would not affect Nigerian economy as adequate measures were being put in place to protect the economy.
The Chief Negotiator for Continent Free Trade Area (CFTA), Amb. Chiedu Osakwe, stated this in Abuja on Thursday night at a joint news conference on the outcome of the just concluded African Union Summit in Addis Ababa, Ethiopia.
The news conference had in attendance, Foreign Affairs Minister Geoffrey Onyeama, his Aviation counterpart, Sen Hadi Sirika, and Acting Chairman Economic and Financial Crimes Commission (EFCC), Ibrahim Magu
President Muhammadu Buhari had at the AU Head of States and Government Summit pushed for the establishment of the market which was adopted by the summit.
Osakwe said that as the scheme is set to be launched in March 4, Nigeria is bracing up to ensure that it does not become a dumping ground for counterfeit and substandard products.
He stressed that the measures would ensure that the initiative instead of adversely affecting the economy would rather increase trade within the continent, create more jobs and reduce poverty.
He said that consultation had already begun with all the stakeholders including the organised private sectors made up of manufacturers and other relevant bodies.