Nigeria’s government has finally agreed to sign the African Continental Free Trade Agreement (AfCFTA), which aims to eliminate tariffs on goods among member states. This will be done at the upcoming African Union (AU) summit in Niamey, Niger this month.
The decision was made following the recommendations of the Presidential Committee on AfCFTA. The committee, which was set up to look into the likely impacts of joining the free trade deal, revealed that as long as the agreement is fair and conducted in an equitable basis, the country can sign.
Among the 55 AU nations, only Nigeria, Eritrea and Benin had chosen not to join the zone since it was launched in Kigali last year. However, President Muhammadu Buhari has expressed his willingness to permit bordering countries to come into Nigeria with low-priced goods, as well as increase efforts in encouraging infant local manufacturing companies, while expanding farming.
Read more at Reuters