President Muhammadu Buhari has agreed to sign the African Continental Free Trade Agreement(AfCFTA).
According to the presidency, Nigeria will sign the agreement at the upcoming Extraordinary Summit of the African Union in Niamey, Niger.
The extraordinary summit is expected to hold on July 7, according to information African Union’s website.
Nigeria had abstained from signing the agreement initially, saying it was weighing the effects it will have on its economy.
According to President Buhari, For the AfCFTA to succeed, the government must develop policies that promote African production, among other benefits. In a recent tweet, Buhari said Africa needs not only a trade policy but also a continental manufacturing agenda.”
“Our vision for intra-African trade is for the free movement of ‘made in Africa goods.’ That is, goods and services made locally with dominant African content in terms of raw materials and value addition,” he said.