martineverest:
British economy is saturated..same as Europe...the Brazilian economy surpassed that of England and still growing.if the right things are done, Nigerias economy could surpass that of UK...that's the potential I'm talking about

What do you mean? Nigeria's economy could surpass UK's ? In case you don't know or you forget, UK is a combination of four countries i.e England, Scotland, Ireland and Wales. Please try to have an indepth knowledge of globalization before you quote me again if you have to. Good day!

Naanlong01:

What do you mean? Nigeria's economy could surpass UK's ? In case you don't know or you forget, UK is a combination of four countries i.e England, Scotland, Ireland and Wales. Please try to have an indepth knowledge of globalization before you quote me again if you have to. Good day!

Ireland isn't in UK...northern Ireland is

u think the economy of Scotland, northern Ireland. and Wales are large compared to that of England?....FYI, France's economy is just about #100m less than that ok UK and Germany economy is £1billion more than that of UK

olujastro:

If the statement from the Chinese Ambassador to Kenya is of any consolation to you, be my guest. I'm not surprised as you have to defend your country.
We all know how China denied in similar situations before taking over Sri Lanka and Djibouti seaports after they defaulted on their loans.

Has kenya defaulted on its loans ??

naijaguy123456:

52 out of the continent’s 55 countries have signed the free trade agreement with the exception of Benin, Eritrea, and Nigeria due to concerns raised by local businesses. Nigeria’s failure to sign the agreement was due to concerns raised by its manufacturing association which says the AfCFTA would have a negative impact on its members.


Nigeria will regret this big time. There is so much to gain from being a partner to this agreement.

The pact aims to boost intra-African trade by making Africa a single market of 1.2 billion people and a cumulative GDP over $3.4 trillion. The UN Economic Commission for Africa (UNECA) estimates that the implementation of the agreement could increase intra-African trade by 52% by 2022 (compared with trade levels in 2010) and double the share of intra-African trade (currently around 13% of Africa’s exports) by the start of the next decade.

Copied

you are still among the people licking UN ass after they cajoled us in many wrong ways? I don't like Buhari's style of leadership but that was the best thing he has ever done. forget that useless data. the whole Africa Continent's economy is not up to Germany's. That agreement is parasitic in many ways.

one of the best economic decisions made so far, it won't favour Nig at all

Acidosis:
I think I'm with Buhari on this. You need to see the way African presidents run to Beijing to lick the feet of Xi Jinping. It is a shameless thing to see over 50 clueless nations depend on a single nation for its development (in the name of bilateral relationships). This sham agreement seems like a Chinese sponsored deal. China is currently responsible for the construction of 99.9% of railways across the entire continent, from Kenya to Malawi, Congo, etc. By handling all railway projects, the goal is to connect all 52+ nations, and Xi will do aything to push Chinese products through these railways. They sell their goods, we get infrastructure that are bound to decay in no time. Of course, they know we can't maintain what we can't build.


Buhari must have learnt some lessons after the currency swap nonsense barely six months into his administration. I'm hoping he's not making another mistake with the ongoing Islamic deals. Buhari will most likely abandon his brain when religion becomes a part of the discussion.

Watsup baba...you're absolutely spot on...but I'm still opinionated about the fact that we need infrastructure at this critical time and all we needed to do is to have a strong negotiation team. The Chinese, I believe are more concerned about with sales, better standard of living for Africans.

Africans are helpless and overwhelmed...

Please school me on the yuan/naira swap deal?
Has it failed ní?

hisgrace090:



And we will have more than 50 countries to dump ours too.

Think of it.

What is yours please??

You've not even achieved self sufficiency in anything on your own first, is it when there are more products coming in from more stable economies with stable power and less production cost you want to achieve self sufficiency?

If we sign, Nobody will ever produce in Nigeria again, they'll just set up at the nearest convenient country and come n dump here since there'll be little or no tariff

olujastro:

China is very smart.
They give countries loan with opaque conditions of taking over their major access points.
China is taking over Djibouti seaport, Zambian airport and State media. Mombasa seaport is next if the Kenyan govt defaults in paying the loan used to build the Mombasa-Nairobi standard gauge rail line.
With these, China will import into Africa free of charge and use the AfcFTA to reach the rest of Africa by rail. Don't forget that the AU headquarters in Addis Ababa which was gifted by China is suspected to be a spy means for China on African leaders during their meetings.
China is behind this AfcFTA but African leaders are to dumb to understand anything.
Kudos to PMB on this one.

I love your analysis... Absolutely spot on.. You are well vast in international politics and Trade policies...seems you are into Human relations&international studies

What is the import duty on goods outside the Agreement? Anybody know?

9jaRealist:
Meanwhile, this GUARANTEES that when foreign investors are seeking out a "beach-head" or "gateway" to access the rest of Africa, they will NEVER even look at Nigeria at all...

It never get bigger than Nigeria in africa, Nigeria is 20% of the whole african population, it is Nigeria and Africa, they'll have no choice but to do both, SW nigeria only covers the rest of west africa for potential FMCG consumers

All we need do is look inwards, and set our ways right, we re enough to buy our own product and grow our industries, after that we can now open our doors to the rest of africa

Why did China block whatsapp and other social media apps, if we do that today, we have enough active internet users to run our own social media apps, and trust me, other african countries will use these services bec it doesn't get bigger than nigeria in entertainment, our stars easily sell out their stadium

naijaguy123456:

52 out of the continent’s 55 countries have signed the free trade agreement with the exception of Benin, Eritrea, and Nigeria due to concerns raised by local businesses. Nigeria’s failure to sign the agreement was due to concerns raised by its manufacturing association which says the AfCFTA would have a negative impact on its members.


Nigeria will regret this big time. There is so much to gain from being a partner to this agreement.

The pact aims to boost intra-African trade by making Africa a single market of 1.2 billion people and a cumulative GDP over $3.4 trillion. The UN Economic Commission for Africa (UNECA) estimates that the implementation of the agreement could increase intra-African trade by 52% by 2022 (compared with trade levels in 2010) and double the share of intra-African trade (currently around 13% of Africa’s exports) by the start of the next decade.

Copied

Bro this is no longer something to argue about as we hv been through this on nairaland a million times....we(as nigerians) stand to loose not gain if we entred that agreement. We don't produce anything we import so no matter wht they(other industrialised countries) will tell u its jst for their own interest. They need to access our markets as we r truly a giant in terms of population(more costumers for them) but we won't get anything cuz we don't produce anything. The small money we get from crude oil will find its way out nd we r left with nothing!

Its harmful to us , its not that hard to comprehend man.

komodapson:



I love your analysis... Absolutely spot on.. You are well vast in international politics and Trade policies...seems you are into Human relations&international studies

Thanks.
No, I'm an engineer by profession. I just read random stuff often, ranging from political, economic to social issues, infrastructure, technology, etc.

hisgrace090:



And we will have more than 50 countries to dump ours too.

Think of it.

But the thing is... wht will u dump?? U don't produce anything u hv no factories unless u mean we should import and sell to them. In that case who do u think benefits?? China will be in one corner laughing at our mumuness!

Please people should learn trade before jst talking.... its very simple to understand. Someone gains while the other looses nd in this case we r not gaining until we industrialise nd we r yet to get there so we need to pause on that agreement till we hv the industries to compete with the outsiders.

dnt mind my silly question.so u mean importing is actualy a good way to improve this economy and create wealth?

musicwriter:


That's very easy. All you need do is check out how Germany (biggest economy in Europe) benefit from the EU. If anybody is saying countries like Gambia, Senegal, Zimbabwe, Mozambique, Ghana, Burkina Faso, etc would out-compete Nigeria in a liberalized open market, that person need to visit a psychiatrist.

You have a point but I think Germany benefits from the EU because they have the best automobile industries and products in Europe. They have something serious to sell. Nigeria has nothing serious to sell and this is what we are saying!

erico2k2:

Di you take the Onne port as a case study? re-evaluate ur response, please.

Just that Onne is inland. Asides that my take remains the same. I stand to be corrected though.

https://www.youtube.com/watch?v=8mzV8ZjR_II

African free trade zone comes into force

zoedew:

Just that Onne is inland. Asides that my take remains the same. I stand to be corrected though.

Read this
http://nigerianports.gov.ng/onne/

erico2k2:

Read this
http://nigerianports.gov.ng/onne/

Thanks to you!

Someone who is infamous for being senseless on this forum calling another person senseless. Lmao.

Wonders!

martineverest:
the guy is right ..u are the dull person here.

Nigeria isn't signing cos we are the major target here.......our government isn't as senseless as u are

Pistotita:
Naija is always the giant of Africa any day. No Nigeria, No Africa. South Africa is just struggling to compete with us, and Ghana will always call us bigger brother. I understand the plight of the guys cautioning govt from jumping into this. Let them beg us well well. Then, we put our terms on the table. Is this not what Britain suppose to do initially instead of now facing Brexit? Just my personal opinion talking from a guy who is far off and does not know the details of the agreement. Perhaps if I have the details, I can do better than this.


God bless Naija!

u don try reach jawe.. 3gbosa