Yemisi Izuora
The Manufacturers Association of Nigeria, MAN, has applauded the refusal of president Muhammadu Buhari’s to join other Africa leaders to endorse the African Continental Free Trade Area, AfCFTA due to be signed in Kigali, Rwanda today.
Oriental News Nigeria reports that the MAN had been in the vanguard of pushing that stakeholders input should be considered by federal government before endorsing the initiative.
At a media briefing in Lagos today, MAN president Frank Udemba Jacobs commended Buhari for canceling his Kigali trip for the signing of the framework agreement for the establishment of the African Continental Free Trade Area at the extra ordinary meeting of the African Union heads of states and government.
Most gratifying is that the president heeded the call of stakeholders especially the Manufacturers in Nigeria for a circumspective re-consideration of the decision to immediately sign the deal, Jacobs said, adding that the president took the right decision to allow time for adequate consultations among relevant stakeholders before the country endorses the agreement.
He however, recommended that government should immediately convene a special meeting of relevant stakeholders, including experts on trade policy to set in motion the process that will enable all stakeholders on the international trade value chain in Nigeria review the draft of the initiative and come up with recommendations.
The meeting should also consider tariff lines rates along the line of efficiency, sectoral and sub-sectoral preferences that will be most beneficial to Nigerian business among other considerations.