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Nigeria to sign African free trade agreement

President Muhammadu Buhari will sign the African Continental Free Trade Agreement (ACFTA).

ACFTA is to create a single continental market for goods and services, with free movement of business persons and investments. African government want the agreement to also pave the way for accelerating the establishment of the Continental Customs Union and the African customs union.

He is expected to append his signature to the deal during an African leaders’ summit in Kigali, Rwanda on March 21.

The Minister of Industry, Trade and Investments, Dr. Okechukwu Enelamah made this known at a briefing after the Federal Executive Council meeting held at the State House Abuja.

Dr. Enelamah explained that the agreement would expand market access for Nigeria’s exporters and boost job creation.

 

The Nigeria Labour Congress had said in a statement that the deal would incapacitate local technological advancement.

President of Congress, Ayuba Wabba argued that ACFTA would open Africa’s seaports, airports and other businesses to unbridled foreign interference.

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