Nigeria has officially joined the African Continental Free Trade Area (AfCFTA) Protocol, with the signing by President Muhammadu Buhari of the Agreement on Sunday, July 7 2019 in Niamey, Niger Republic.
A statement by the President’s Special Adviser on Media and Publicity, Mr Femi Adesina in Abuja on Sunday, said the president appended his signature to the treaty at the opening of the African Union (AU) Summit at exactly 10: 47 am, local time.
With the signing by Nigeria and Benin Republic 54 Countries have signed the Agreement out of Africa’s 55 Countries to sign the Free Trade Agreement leaving only Eritrea as the only Country yet to sign.
In his remarks shortly after signing the agreement, the Nigerian President declared that Nigeria’s commitment to trade and African integration had never been in doubt.
He told the Summit that Nigeria would work expeditiously with the ratification of the AfCFTA.
Buhari said: ‘‘Nigeria wishes to emphasize that free trade must also be fair trade.
‘‘As African leaders, our attention should now focus on implementing the AfCFTA in a way that develops our economies and creates jobs for our young, dynamic and hard working population.
‘‘I wish to assure you, that Nigeria shall sustain its strong leadership role in Africa, in the implementation of the AfCFTA.
”We shall also continue to engage, constructively with all African countries to build the Africa that we want.”
Also, at the the 12th Extraordinary Summit of the African Union on Launch of the Operational Phase of the AfCFTA. Ghana won the bid to host the secretariat of the African Continental Free Trade Area (AfCTA).
This makes Ghana’s capital, Accra the Commercial Capital of African Free Trade.
It should be noted that Nigeria had earlier shown a very strong interest in hosting the Continental Tree Trade Area Secretariat.
African Continental Free Trade Area (AfCTA). Agreement is expected to significantly boost inter-African trade.
African Continental Free Trade Area (AfCTA). Now moves into the operational phase.