Forty-four African countries have signed an agreement establishing a free trade area seen as vital to the continent’s economic development, the head of the African Union said Wednesday.
The agreement establishing the CFTA (African Continental Free Trade Area) was signed by 44 countries,” said Moussa Faki Mahamat, chairperson of the AU commission. The creation of a free trade area — billed as the world’s largest — comes after two years of negotiations, and is one of the AU’s flagship projects for greater African integration.
The full list of countries which did not sign the agreement is not yet available, however Nigeria is a notable absentee after President Muhammadu Buhari pulled out of this week’s launch in Rwanda saying he needed more time for consultations at home.
Nigeria, one of Africa’s largest markets, hesitated after objections from business leaders and unions — a sign that getting the deal through scores of national parliaments may face several hurdles.
From Guardian
Baba no go school na, wetin he know wetin dey happen for world.
ReplyDeleteNai he sabi. afterall we be giant of africa
Your giant of Africa title is about your population, don't be too excited.
DeleteWhy do I have a feeling all you who scream and get excited about Nigeria being the giant of Africa have never travelled to other African countries?
We do you expect from a government that wishes it's country bad.
ReplyDeleteYour comment will be visible after approval
Nothing wrong with the move nigeria chose. Free trade means open market. Open market destroys infact industries and other business (due to competition threats). How else do you think China and the west grew their economies?
ReplyDeleteDon't mind these idiots bashing the president. Stella.. You need to understand what it means to have a free trade area and its implications. If we must have one, there needs to be consultations done and amendments(your own terms)if need be.. You can't just decide to have a FTA not with the fact that Nigeria is already a dumping site for manufacturers allover the world.. You now want to open it the more so harmful products and goods will keep coming into the country. He took the right step.. Let him consult with economist and experts first before signing to such.
DeleteSensible comment.
Delete*** infant industries
DeleteIt is this free trade that destroyed the textile industries in nigeria, not to mention other aspects of the economy. Your infant industries need and other industries/businesses need to be thoroughly protected from foreign threats. Usually countries that developed or have excess of produce not needed in their countries that clamour for free trade.
DeleteMaybe you people who have no idea what the dangers of free trade is should read up! There is a reason why Trump for instance made so much noise about NAFTA.
ANONYMOUS AS above
Nigeria should not join abeg, our companies will die and the country will be a dumping ground.
ReplyDeleteI think we have a lot of mop up to do at the economic level that we are now in Nigeria. No rash decision should be taken to avoid stories that touch the souls.
ReplyDelete