Buhari boasts: Nigeria is too big to blindly sign Africa’s free trade agreement endorsed by world’s best economists

82,088FansLike
2,966FollowersFollow
2,700SubscribersSubscribe
82,088FansLike
3,122FollowersFollow
2,700SubscribersSubscribe

‘‘Nigeria is too big and too diverse to blindly sign agreements without understanding the consequences of such actions,’’ President Muhammadu Buhari said, Friday, in Abuja.   

President Buhari made the declaration when he received representatives of the Lagos Chamber of Commerce and Industry (LCCI) led by its president, Mr Babatunde Ruwase, at the Presidential Villa.

The President used the occasion of his audience with members of the LCCI to shine more light on his decision to inaugurate a Presidential Committee Monday this week to assess the potential costs and impact of the agreement establishing the   African Continental Free Trade Area (AfCFTA) for Nigeria.

[read_more id="2" more="Read full article" less="Read less"]

‘‘Nigeria is still assessing the impact of this agreement on its backward integration and import substitution policies.

‘‘Specifically, the provisions on rules of origin and transhipment were matters of concern to us.

‘‘Already, some of the treaties we are party to have been significantly abused resulting in massive smuggling which has crippled many of our local industries and destroyed millions of jobs.

‘‘To avoid these past mistakes, we conducted vast consultations across the country in which the LCCI participated. The responses have been mixed,’’ the President said.

On the issue of the gridlock in Apapa, Lagos, President Buhari acknowledged that the situation was a major concern to all.

‘‘The work on Wharf road is in progress. We will continue to do our best to expedite the repair works at the Ijora Bridge without compromising quality.

‘‘We have also directed the Nigerian Railway Corporation to use their infrastructure in the ports to support the evacuation efforts, thereby further decongesting the area.

‘‘Be assured that the completion of these projects is a major priority of this administration,’’ he said. 

Earlier in his remarks, Ruwase while commending the Federal Government for the series of Executive Orders focused on promoting the ease of doing business in the country, stressed the need to improve the regulatory environment in the oil and gas industry.

He, therefore, appealed to the executive arm of the government to expeditiously consider the Petroleum Industry Bill through appropriate collaborative actions with the National Assembly.

The LCCI president also drew the attention of the President to the numerous abandoned Federal Government properties in Lagos and the economic waste it represents.

He urged the Federal Government to either return the property to Lagos State government which is the original owner of the land; or give them out on lease to the private sector.

[/read_more]

Femi Adesina
Femi Adesina, a Nigerian journalist, is the special adviser on media and publicity to Nigerian President, Muhammadu Buhari. This is an official statement from him. The headline might have been adjusted.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

TRENDING

Nobel Peace Prize winning Prime Minister of Ethiopia Abiy Ahmed under fire for ethnic cleansing and human rights abuses

Ethiopian Prime Minister Abiy Ahmed was awarded the 2019 Nobel Peace Prize for “his efforts to achieve peace and international cooperation.” However, he has recently become the subject of intense scrutiny after multiple reports have found him responsible for leading violent ethnic cleansing in the Tigray Region.In the entire history of the Nobel Peace Prize, which has been around for well over a century, the...

Stay connected

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

error: Alert: Content is protected !!
Share
Tweet
Reddit
Pocket
Share
More