Nigeria has been urged to commit itself to the Africa Trade liberation recently signed by 44 member states during the 2018 Extraordinary Summit of African Union Heads Of State and Government in Kigali, Rwanda.
C News Correspondent, Ifunanya Eze reports that Nigeria is one of the 5 member states yet to sign the declaration and agreement that plans to deepen and expand intra-Africa trade.
The reason given by Nigeria’s leadership was that it needs to consult with the business community before taking a position.
This is what brought about the meeting of stakeholders in the south-west business community, though poorly attended, participants exchanged views on the benefit of Nigeria becoming signatory to the agreement.
Participants identified the decay in Nigeria’s industrial sector as a major limitation, considering the vastness of its market. concerns over border regulation and substandard goods polarization was underscored.
The free trade agreement is expected to drive a single liberalized market for trade in goods and services across Africa.