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Federal Govt Urged To Sign Africa Continental Free Trade Agreement

The Nigerian Government has been urged to sign the Africa Continental Free Trade Agreement (AfCFTA) that seeks to promote inter-African trade and economic development. Speaking at the AFREXIMBANK Annual General Meeting in Abuja, South African President, Cyril Ramaphosa who charged Nigeria to also sign the agreement said South Africa would soon ratify the agreement that has already been signed by 44 of the 54 African Nations.

 

President Ramaphosa said the AfCFTA signifies a new dawn for Africa that would help harness its diverse resources to ensure regional economic integration, alleviate poverty and reduce inequalities. Minister of Finance, Kemi Adeosun said Nigeria is completing the consultation process with relevant stakeholders on the agreement to ensure that it is done properly. Our Correspondent, Raliat Adenekan reports that President Afreximbank, Dr Benedict Oramah noted that the AfCFTA will raise Africa’s trade by 52% and lead to the elimination of 90% of tariffs by 2022.

Photo Credit: 
guardian.ng

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