The presidential committee on the impact assessment of the African Continental Free Trade Area AFCFTA has has submitted its report which recommended that Nigeria should sign up on the free trade deal as proposed by the African Union.
Presenting the report, chairman of the committee, Mr. Desmond Obadiah, said Nigeria should consider signing the agreement. He said the committee which was constituted last year, reviewed over 200 submissions from various stakeholders, before recommending for the signing of the treaty. Responding, the president said the government will look into the recommendations of the panel.
Nigeria is yet to sign the Agreement following the insistence of President Muhammadu Buhari for wide consultations on the merits and demerits of the continental free trade deal.
Presenting the report to the President on Thursday at the state House, Abuja, Co- Chairman of the committee Desmond Guobadia said though the free trade agreement is not without major risks and undesirable impact, it provides immense opportunities for Nigeria’s manufacturing and services companies to expand in Africa.
The African Union Heads of State had on March 21st 2018, adopted the phase one agreement on the African Continental Free Trade Area (AFCFTA) at its 10th Extraordinary summit in Kigali, Rwanda.