Building a Smart Deal for Nigeria in the AfCFTA Negotiations: Issues, Processes and Policy Directions
- 222 Downloads
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.
KeywordsAfCFTA Stakeholders consultation Organized Private Sector Nigeria
- Ademola, T. (2018). “Nigeria in the negotiation of African Continental Free Trade Agreement” draft copy 16th July 2018.Google Scholar
- African Continental Free Trade Area: Policy and Negotiation Options for Trade in Goods, United Nations, New York and Geneva, 2016.Google Scholar
- Agreement on the African Continental Free Trade Area (AfCFTA): State-of-play and update on stakeholder consultations- Presentation to the Nigerian Governors Forum.Google Scholar
- 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.Google Scholar
- 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.Google Scholar
- The Green Book- “Raising a People who will Build a New Nigeria”. (2017).Google Scholar
- 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.Google Scholar