According to him, the agreement had the capacity to hinder local entrepreneurship and encourage the dumping of finished goods in Nigeria. Obasanjo speaking in a video posted by NBS Rwanda at African trade agreement, criticised African presidents who refused to sign the trade agreement. He described their reason not to assent to the trade agreement as ‘mere flimsy excuse and criminal.’
He said: “ “I’m surprised that any African leader at this point in time will be talking about either not understanding the Continental free trade area or not to support what we’re going to sign. I see that as criminal. The signing and implementation of the African Continental Free Trade Area (AfCFTA) will enable a shift from dependence on assistance to increased trade.
The establishment of the Free Trade Area will result in the establishment of a market of over one billion two hundred million people, with a combined gross product of over three trillion dollars. That is where our salvation lies, trading amongst ourselves and consequently developing our economies. The agreement will inspire a change a perception of the continent by the rest of the world."
From Daily Post
*Can someone explain this Africa free trade ish and its implications on Nigeria?
Google is the answer. Commerce students oya come and tell us
ReplyDeleteWhy do we have thus mai-shanu as president pls? This man keeps truncating the economy of this country with his incompetence. 2019 should come very fast pls
ReplyDeleteFree trade is simply a system where countries allow goods & services to move without tariffs, custom duties or charges of any kind.
ReplyDeleteNigeria cannot allow itself to be railroaded into another free trade agreement when we still have commitment to free trade under WTO, UNCTAD, EU-ACP agreements.
Besides we trade 90% in Crude oil. What benefit will we derive from opening up to goods from others when there won't be much reciprocity?
Use your data plan to educate yourselves. This is the best decision this president has made for Nigeria. The terms have to be negotiated to benefit our country. We have the largest population and a target market. Remember what the us did with the EU on trade? Obasanjo doesn’t care about Nigeria!
ReplyDeleteGod bless you, leave Obasanjo to be playing to the gallery.
DeleteIn addition to Lala's arguement, think of it this way. Nigeria participating in that free trade thingy will make our country somewhat a dumping ground of all types of shitty stuff.
ReplyDeleteand when did ur country stopped being a dumping ground? You import toothpick from China and matches from India... Most of the electrical gadgets, including 90% of mobile phones in ur markets are substandard products from China
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