Abstract
On Wednesday, 21 March 2018, in Kigali, Rwanda, 44 African countries endorsed the African Continental Free Trade Area (AfCFTA) and 9 other African Union member countries, including Nigeria and South Africa, delayed assent to the treaty. While member states were busy signing the treaty, there were calls from different quarters in Nigeria as to whether the country should sign or not sign the AfCFTA, particularly members of the Organized Private Sector (OPS), which claimed that they were not adequately consulted during the negotiating period. The government, on its part, refrained from signing the Agreement on the excuse that extensive consultations with the relevant stakeholders, including the trade groups, manufacturers and organized labour needed to be carried out. The need for an in-depth study on the impact on the Nigerian economy was re-echoed. In order to address stakeholders’ concerns, the Nigerian President established a “Presidential Committee on the AfCFTA” chaired by the Honourable Minister, Industry, Trade and Investment. The committee was charged with the responsibility of undertaking a stakeholders’ sensitization campaign on the AfCFTA with a view to deepening and widening consultations across the six geopolitical zones. The objective of this chapter is to document the issues and processes that Nigeria has undertaken, as well as recommend policy directions for Nigeria in its attempt to strike a smart deal in the ongoing AfCFTA negotiations.
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Notes
- 1.
Decision: Assembly/AU/Dec.394 (XVIII) and Declaration: Assembly/AU/Decl.1 XVIII.
- 2.
The Declaration launching the AfCFTA was signed by 43 AU members: Niger, Rwanda, Chad, Angola, Central African Republic, Comoros, Congo, Djibouti, Ghana, The Gambia, Gabon, Senegal, Kenya, Mozambique, Saharawi Republic, Sudan, Mauritania, Zimbabwe, Côte d’Ivoire, Seychelles, Algeria, Equatorial Guinea, Morocco, Swaziland, Tanzania, Tunisia, Burkina Faso, DRC Congo, Guinea, Liberia, Mali, Somalia, South Sudan, Uganda, Sao Tome and Principe, Togo, Malawi, Cameroun, Cape Verde, Libya, Madagascar, Egypt, Mauritius and Ethiopia.
- 3.
Nigeria, Sierre Leone, Guinée Bissau, Burundi and Eriteria.
- 4.
Tralac African Continental Free Trade Area FAQs, Question and Answer, Issue No 1. 2018.
- 5.
African Continental Free Trade Area: Policy and Negotiation Options for Trade-in-Goods, United Nations Conference on Trade and Development (UNCTAD), New York and Geneva, 2016, page 3.
- 6.
African Continental Free Trade Area – A Tralac Guide, 2018.
- 7.
Dr Sam Nzekwe, a former president, Association of National Accountants of Nigeria, writes Punch 14 August 2018, cited from bilaterals.org/?should-buhari-sign-the-african on 16 August 2018.
- 8.
Cited from www.worldbank.org/en/country/nigeria/overview# on 17 August 2018.
- 9.
The Report: Nigeria (2016) Oxford Business Group, 16.
- 10.
The World Bank in Nigeria (2017, April 1), cited from www.worldbank.org/en/country/nigeria/overview# on 17 August 2018.
- 11.
The Green Book—“Raising a people who will Build a New Nigeria” (2017).
- 12.
Fact Sheet on the African Continental Free Trade Area (AfCFTA) benefit for Africa and Nigeria cited from www.notn.gov.ng on 9 August 2018.
- 13.
Trade Department, Federal Ministry of Industry, Trade and Investment.
- 14.
The date in reference is August 2018.
- 15.
Mr Olalekan Ayodimeji (Vice President, Kwara Chamber of Commerce, Industry, Mines and Agriculture) urged President Muhammadu Buhari to sign the African Continental Free Trade Agreement.
- 16.
www.notn.gov.ng cited on 15 August 2018.
- 17.
The requests for inputs were called for submitted signed inputs to the Federal Government of Nigeria as follows: Association of Women Entrepreneurs (AWEP); National Association of Chambers of Commerce, Industry Mines and Agriculture (NACCIMMA); Federation of South-South Chambers of Commerce Industry Mines and Agriculture (Fossccima); Nigerian Association of Small and Medium Enterprises (NASMEs); Nigerian Agri-Business Group (NABG); Manufacturers Association of Nigeria (MAN); Digital Economy (Jumia); Nigerian Stock Exchange (NSE); Nigerian Economic Summit Group (NESG); Nigerian Institute of Advanced Legal Studies (NIALS); and Nigerian Pro-force Defence Company.
- 18.
Nigeria and Fear of AfCFTA, Nike Odularu, 2018, cited from LinkedIn on 11 September 2018.
- 19.
Olalekan Ayodemiji is the Vice President, Kwara Chamber of Commerce, Industry, Mines and Agriculture.
- 20.
Ibid.
- 21.
Adetokunbo Kayode, SAN, President, Abuja Chamber of Commerce and Industry.
- 22.
This recommendation was provided by the Kano AfCFTA stakeholder forum held in Kano, Nigeria, for the Northwest Geopolitical Zone on 2 May 2018.
References
Ademola, T. (2018). “Nigeria in the negotiation of African Continental Free Trade Agreement” draft copy 16th July 2018.
African Continental Free Trade Area: Policy and Negotiation Options for Trade in Goods, United Nations, New York and Geneva, 2016.
Agreement on the African Continental Free Trade Area (AfCFTA): State-of-play and update on stakeholder consultations- Presentation to the Nigerian Governors Forum.
Dr Sam Nzekwe, was a Former President, Association of National Accountants of Nigeria Writes Punch 14 August, 2018 cited from bilaterals.org/?should-buhari-sign-the-african on 16th August, 2018.
Fact Sheet on the African Continental Free Trade Area (AfCFTA) Benefit for Africa and Nigeria cited from www.notn.gov.ng on the 9th August 2018.
Lagos Chamber Position on the AfCFTA cited from www.chambertelegrapgh.com/2018/08/02/lagos-chamber-position-on-afcfta/
Nigeria Can Dominate African Market with AfCFTA cited from www.dailytrust.com.ng
Odularu, A. 2018 Nigeria and Fear of AfCFTA, Odularu, 2018 cited from LinkedIn on the 11th September 2018.
Oghayei, S. (2018). AfCFTA and Business Facilitation: A Pathway for Effective Implementation in ECOWAS. Regional Trade Advisor, COMSEC/EC (Hub & Spokes II), Article cited from Linkedin on the 11th Sept, 2018.
The Green Book- “Raising a People who will Build a New Nigeria”. (2017).
The World Bank in Nigeria. (2017, April 1), cited from www.worldbank.org/en/country/nigeria/overview# on 17th August, 2018.
Vanguard News Nigeria- FG Expresses Reservation on AfCFTA.
www.sunnewsonline.com/the-benefits-of-afcfta-for-nigeria-huge-osinbajo
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Ali, N.A. (2019). Building a Smart Deal for Nigeria in the AfCFTA Negotiations: Issues, Processes and Policy Directions. In: Odularu, G., Alege, P. (eds) Trade Facilitation Capacity Needs. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-030-05946-0_3
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