Buhari gives assurance AfCFTA treaty won’t affect manufacturers’ interest
on Wednesday from President Muhammadu Buhari that the African Continent Free
Trade Area (AfCFTA) treaty would not affect their interests.
and business community that proper safeguards would be put in place to block
reassurance when he hosted the leadership of the Lagos State Chamber of
Commerce and Industry (LCCI), led by its President Babatunde Ruwase, at the
State House in Abuja.
done in the next phase of AfCFTA negotiations
approach Nigeria took on the AfCFTA is just another example of our desire for
sustainable and inclusive growth.
geopolitical zones. We met farmers, commodity traders, manufacturers, bankers
and stock brokers. And we listened and made note of their views.
although the services sector was doing ok, other key job creating sectors such
as manufacturing and processing were still lagging behind.
that intra-African trade only accounts for 14 per cent of Africa’s total trade.
As a continent, our consumption is mostly of goods imported from outside the
opportunity and a threat. It is an opportunity as Nigerian manufacturers can
aggressively expand to meet the huge demand across the continent.
abuse the rules of origin to flood the market with imports from outside the
continent thereby destroying jobs here at home.
next phase of the negotiations is to ensure proper safeguards are put in place
to support African manufacturers. We shall continue to count on your support to
ensure this goal is achieved.”
gridlock still remains a challenge, he said that he was saddened that
businesses have had to suffer as a result of it.
Government was doing its best and working with the Lagos State Government to
bring an end to the problem.
his administration’s continued commitment to supporting the private sector to
flourish and create jobs across the country.
years, we have invested heavily in infrastructure development. We supported our
development banks to provide loans to traders and small enterprises.
support local content consumption. We also focused on enhancing ease of doing
business to facilitate investment.
alignment with the monetary authorities and this significantly contributed to
the successes we are seeing today.”
the CAMA bill and the Petroleum Industry Governance Bill (PIGB) as he urged the
President to sign them into law.
chief commended Federal Government’s effort in decongesting the gridlock,
saying the move had brought a partial relief.
to sustain the effort, stressing that the challenge is not over yet.
intervention to resolve the traffic gridlock around the Lagos ports in Apapa.
We have experienced partial decongestion of the roads but the problem is still
not over. We urge you to please sustain your interest in this matter to ensure
that it is fully resolved.”
prevail on the Central Bank of Nigeria (CBN) to deepen its consultations with
stakeholders before major monetary policy decisions are taken.
the signing of AfCFTA, saying it will promote continental economic integration
as well as the growth of member countries.
constitution of the National Action Committee (NAC) on the implementation of
the agreement, pointing out that the group would be looking forward to speedy
execution of programmes and projects that will foster the atmosphere for
competitiveness among Nigerian businesses.
signing the Africa Continental Free Trade Agreement (AfCFTA). We believe it
would promote continental economic integration and economic growth of member
the extensive consultation with the private sector which preceded the signing
of the agreement.
setting up of National Action Committee on the implementation of the AfCFTA. We
look forward to speedy execution of programmes and projects that will create
the environment to enhance the competitiveness of Nigerian businesses within
the context of the AfCFTA.”
President Buhari on the October 26, last year, sought for expeditious
consideration of the PIB.
Government properties in Lagos, among other issues.
President Yemi Osinbajo in his office on many occasions in the past four years.