African Continental Free Trade Agreement beneficial to Nigeria – NLC

Abuja –  The Nigeria Labour Congress (NLC), says the signing of the Continental Free Trade Agreement (CFTA) will be beneficial to Nigeria and Africa’s economies.

Mr Ayuba Wabba, the NLC President said this while speaking with newsmen on Monday in Abuja.

The News Agency of Nigeria (NAN) reports that in 2012, African heads of state resolved to establish CFTA treaty to create a single continental market for goods and services in member states.

The year 2017 was adopted as the deadline the treaty will become operational, however, consensus was not reached among member nations who requested for more time to continued consultations on the impacts on their economies.

It will be recalled that stakeholders including the NLC and the organised private sector have raised also concerns over the implications of the agreement for the country’s economy.

The NLC had said the agreement would lead to collapse of the country’s manufacturing sector and loss of jobs.

Wabba said that NLC was well guided when it raised alarm over Nigeria signing the agreement.

According to him, the decision by President Muhammadu Buhari is commendable as this will give room to ensure that Nigeria being Africa’s largest economy is not short changed in the deal.

Related Story:  Botswana pays Russia's Norilsk Nickel $45 mln to settle mine sale dispute

“The Africa Continental Free Trade Agreement actually meant to open up our borders for free trade between Africa countries with ease.

“We have looked at it and it is also for us to be competitive as it has to be situated within products that are actually produced in Africa.

“Not products that will be produced elsewhere and then African continent will become conduit pipe to actually dump those products. That has been our concerns.

“Secondly, we must protect our national interest, especially in the areas we have comparative advantage, agric products, issues of oil and gas; we must be able to protect our local market.

“There should be reciprocity in these trades. Not that we open our borders and at the end of the day, we don’t get the same reciprocity from other countries, ‘’he said.

He said that Nigeria’s president had directed that NLC, Manufacturers Association of Nigeria and other key stakeholders, should be consulted to air their views on the agreement.

Related Story:  N10bn payment to local contractors provided for in 2017 Budget – Accountant-General

Wabba however, said that in the consultation that took place a week ago, all stakeholders aired their views and had also submitted memorandum with some recommendations given.

He expressed optimism that the ongoing consultation on the agreement would be beneficial and safeguard Nigeria and Africa’s economies.

“So, let me clearly say that NLC was consulted because what I am sharing with you is not only NLC’s views, it’s the views of all the Trade Unions in Africa.

“We met in Lome under the auspices of International Trade Union Confederation and we came up with a position after studying the African Continental Free Trade Agreement.

“So, clearly speaking, we said let us also make sure that we are able to protect our markets because there’s a push somewhere and we thought we should be able to expose that push.

“But importantly, putting safeguards to make sure that Africa does not become a dumping ground for other countries.

“Because we have the population, we have what it takes and therefore we must work toward industrialisation of Africa,’’ he added.(NAN)

Leave a Reply

Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: 08033083361, 08094208271 and 092900705
Whatsapp: 08053069436
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838
https://twitter.com/sundiatapost/

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143
Dubai Office: PAU Management Suite, Level 23 - Boulevard Plaza Tower 2, Emaar Boulevard,
P. O. Box 124342, Dubai, UAE.
Tel: +971 4 4096849 | Fax: +971 4 409 6850
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
ACCREDITED MEMBER
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate