Nigeria: Naccima Explains Apathy to Ratification of AFCTA

By Femi Adekoya

The National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) called on the Federal Government to ratify the African Free Trade Area Agreement (AfCFTA) citing that apathy to the treaty was after the NACCIMA, only 6% of the excluded products were identified on the 10% provided by the treaty safeguards.

Chief Negotiator and Director of Nigeria General, Nigerian Trade Negotiations Office (NOTN), Ambbadador Chiedu Osakwe acknowledged the concerns raised by saying that if market risks increase, the country has a provision on trade remedies or dumping, on the basis of which a party may claim certain rights for products sold at a price lower than that of a producer or importer in Nigeria.

Noting that Nigeria can not afford to isolate from the 1.2 billion common market At a press conference in Lagos yesterday, NACCIMA's national president, Iyalode Alaba Lawson, stated that NACCIMA's position is that our country should sign the AfCFTA.

has been closely and long involved in the vision of an African Free Trade Zone since the creation of the OAU.

Nigeria must be part of the AFCTA for many reasons that include the fact that it is a platform for our SMEs It has however stated that the badociation advises that, to shoot In full benefit of the FTA, the government needs to step up current efforts to eradicate non-trade and women's economic empowerment. – Tariff and regulatory barriers to international trade such as border delays, customs procedures and binding inspection, as well as the elimination of multiple licenses and taxes, saying that a situation where the Association also notes that the immediate impact of the AfCFTA could be the loss of revenue from import duties and taxes, which could prevent the federal government from implementing its current program. invest heavily in infrastructure and other spending activities, advising the government to redouble efforts with policies that will ensure that Nigerian products and services are ready for the African market in the most promptly.

We should sign the Agreement now and set up a Global Enforcement Committee to find out when it will finally take off, "she said

. Jani Ibrahim, Chairman of the Standing Committee of NACCIMA on AfCFTA, said that Nigeria has no continent other than the African continent and that, therefore, it can not be " We must not just cash in and insure most things if all else fails. "

Nigeria's accession to the agreement must, however, take into account all the concerns of the people. Stakeholders "take it seriously and take care of it quickly," he added.