FG working for good of Nigeria on Africa free trade agreement, says minister

The Minister of Industry, Trade and Investment, Okechukwu Enelamah, has said that the Federal Government is working in the interests of the Nigerians on the African Continental Free Trade Area (CFTA) agreement that it has refused to sign.

President Muhammadu Buhari had pulled out of the signing of the continental free trade agreement on March 21, 2018, saying that he needed more time for consultations back home.

On Tuesday, March 27, President Buhari presided over a meeting where widened consultations on the agreement were made with industry groups from agriculture, eCommerce, manufacturing, and many others.

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), as well as government agencies like the Nigerian Office for Trade Negotiations and the Nigeria Custom Services made contributions during the meeting.

After the consultation meeting, Enelamah said, "We're going to work collaboratively for the good of Nigeria. We're all Team Nigeria and all playing to win. This work must continue."

Nigeria, South Africa object to CFTA

44 African presidents agreed to form a $3 trillion continental free-trade zone encompassing 1.2 billion people when they signed the agreement last week, with South African president, Cyril Ramaphosa, also pulling out with Buhari.

In reaction to their decision to pull out, AU Commissioner for Trade and Industry, Albert Muchanga, said he expects the countries to iron out their reservations and sign the agreement during the next summit in July 2018.