₦airaland Forum

President Muhammadu Buhari has said Nigeria would not be in a haste to sign any treaty without verifying the impact it would have on the lives of citizens.

He made the remark on Monday at the presidential villa, Abuja, while inaugurating the Committee for Impact and Readiness Assessment of the African Continental Free Trade Area.

The president said Nigeria will henceforth take its time to breakaway from the past practice, where treaties were signed without making the needed positive gains for the country.

He said Nigeria will henceforth make a complete departure from the past when treaties were signed without thoroughly evaluating the clear benefits they could bring to the country.

“We are determined to breakaway form the past practice of committing Nigeria to treaties without a definite implementation plan to actualise the expected benefit while mitigating the risks. We cannot go back to the days of signing agreements without understanding and planning for the consequences of such actions and our country being the worst for it,” he said.

“Few months ago I directed a nationwide stakeholders’ engagement on the Africa Free Trade Continental Area Agreement to understand the true impact of this agreement on Nigeria and Nigerians, considering the existing domestic and regional policies as it relates to trade.

“From the consultation, the key issues raised by stakeholders were abuse of rules of origin, smuggling arising from difficulties in border controls, unqualified impact of legacy preferential trade agreements, low capacity and capability of local businesses to conduct international trade, costly finance, insufficient energy and transport logistics infrastructure but our Economic recovery and Growth Plan is addressing these issues,” he said.

Solution
Mr Buhari charged the committee to concentrate on the issues raised during the nationwide consultations in order to find lasting solutions to them.

“Your task as members of the Impact and Readiness Assessment of the African Continental Free Trade Area Committee is to address the issues raised during the stakeholders’ consultations on the Africa Continental free trade Agreement. You are expected to develop short, medium and long term measures that will address any challenges arising there from.”

The president said Nigeria’s vision for intra-African trade is for a free movement of made in Africa goods.



The Nigerian leader, who stressed that Nigeria is the largest economy in Africa, regretted that for too long, the country’s domestic productive capabilities were neglected in favour of imports.

He said the Economic Recovery and Growth Plan (ERGP) introduced by the current administration will help revive key job creating and import substitution sectors like agriculture, mining and manufacturing.

Term of Reference
Similarly, the minister of Industry, Trade and Investment, Okechukwu Enelamah, gave the terms of reference of the committee.

“Following consultations, the terms of reference of the Presidential Committee on the Africa Continental free Trade Area Impact Assessment and Readiness are; Assess the potential cost and impact of the Africa Continental free Trade Area AFCTA for Nigeria in relation to the benefits, identify the short, medium and long term measure to prepare Nigerian businesses for the take-off of AFCTA trading group and a backup plan that covers selected scenarios and view the trade remedy options to safeguard the Nigerian economy form predatory and failed trade practices.”

He said an updated trade policy is being prepared for Nigeria and the draft would be ready for review by the end of the year.

https://www.premiumtimesng.com/news/more-news/291975-well-only-sign-treaties-that-will-impact-the-lives-of-nigerians-buhari.html

baba revise!

bubu cannot comprehend the content, hence the urgent need to send him packing

DEAD ON ARRIVAL

WE WILL WE WILL what happens to
WE HAVE , I HAVE

Belluchii:
President Muhammadu Buhari has said Nigeria would not be in a haste to sign any treaty without verifying the impact it would have on the lives of citizens.

He made the remark on Monday at the presidential villa, Abuja, while inaugurating the Committee for Impact and Readiness Assessment of the African Continental Free Trade Area.

The president said Nigeria will henceforth take its time to breakaway from the past practice, where treaties were signed without making the needed positive gains for the country.

He said Nigeria will henceforth make a complete departure from the past when treaties were signed without thoroughly evaluating the clear benefits they could bring to the country.

“We are determined to breakaway form the past practice of committing Nigeria to treaties without a definite implementation plan to actualise the expected benefit while mitigating the risks. We cannot go back to the days of signing agreements without understanding and planning for the consequences of such actions and our country being the worst for it,” he said.

“Few months ago I directed a nationwide stakeholders’ engagement on the Africa Free Trade Continental Area Agreement to understand the true impact of this agreement on Nigeria and Nigerians, considering the existing domestic and regional policies as it relates to trade.

“From the consultation, the key issues raised by stakeholders were abuse of rules of origin, smuggling arising from difficulties in border controls, unqualified impact of legacy preferential trade agreements, low capacity and capability of local businesses to conduct international trade, costly finance, insufficient energy and transport logistics infrastructure but our Economic recovery and Growth Plan is addressing these issues,” he said.

Solution
Mr Buhari charged the committee to concentrate on the issues raised during the nationwide consultations in order to find lasting solutions to them.

“Your task as members of the Impact and Readiness Assessment of the African Continental Free Trade Area Committee is to address the issues raised during the stakeholders’ consultations on the Africa Continental free trade Agreement. You are expected to develop short, medium and long term measures that will address any challenges arising there from.”

The president said Nigeria’s vision for intra-African trade is for a free movement of made in Africa goods.



The Nigerian leader, who stressed that Nigeria is the largest economy in Africa, regretted that for too long, the country’s domestic productive capabilities were neglected in favour of imports.

He said the Economic Recovery and Growth Plan (ERGP) introduced by the current administration will help revive key job creating and import substitution sectors like agriculture, mining and manufacturing.

Term of Reference
Similarly, the minister of Industry, Trade and Investment, Okechukwu Enelamah, gave the terms of reference of the committee.

“Following consultations, the terms of reference of the Presidential Committee on the Africa Continental free Trade Area Impact Assessment and Readiness are; Assess the potential cost and impact of the Africa Continental free Trade Area AFCTA for Nigeria in relation to the benefits, identify the short, medium and long term measure to prepare Nigerian businesses for the take-off of AFCTA trading group and a backup plan that covers selected scenarios and view the trade remedy options to safeguard the Nigerian economy form predatory and failed trade practices.”

He said an updated trade policy is being prepared for Nigeria and the draft would be ready for review by the end of the year.

https://www.premiumtimesng.com/news/more-news/291975-well-only-sign-treaties-that-will-impact-the-lives-of-nigerians-buhari.html

Our fears have been captured in this list of disadvantages of us signing the treaty:
-Abuse of rules of origin(they will be made in China but the label will state that it's made in Congo),

-Smuggling arising from difficulties in border controls(Benin Republic is already showing us 'shege' in that regard)

-unqualified(unquantified) impact of legacy preferential trade agreements,

-low capacity and capability of local businesses to conduct international trade(why should be at a time we are clamoring for buy Naija to grow the naira?)

costly finance,

insufficient energy

transport logistics infrastructure
-Insecurity(some of these countries like Libya, Sudan etc are failed states and could be bringing arms into Nigeria)
As Nigeria currently stands,this treaty doesn't favor Nigeria . Most of the other African countries have low barriers of entry so they will become outposts or warehouses for Asian and European countries to dump goods that will be exported to Nigeria or smuggled to Nigeria by unpatriotic Nigerians in connivance with corrupt custom officials.
This is a listening president!God bless President Muhammadu Buhari.
God bless my fatherland Nigeria

Any Government that has the interest of the people and its country at heart is the government of the people...
PMB is working hard to ensure the progress of his people and the country....
PMB is doing everything in his power to ensure that country is set on the map and set on greater heights.
Keep up with the good work Sir

beegodson:
Any Government that has the interest of the people and its country at heart is the government of the people...
PMB is working hard to ensure the progress of his people and the country....
PMB is doing everything in his power to ensure that country is set on the map and set on greater heights.
Keep up with the good work Sir

PMB is a patriot to the core. To him,everything is Nigeria first.Following the scandal involving the Indian PM who bought 15 fighter jets through a third party while our own President left his office,cut out the middle men and bought directly from the US government made me very proud of my President. Opponents may fault him on speed but his loyalty to Nigeria is not in doubt.
They should ditch the agreement joor. Ordinary 15 ECOWAS trading bloc members are giving us problems,is it now when they are over 50 of them that we will have Peace?

saintjimos:
DEAD ON ARRIVAL


WE WILL WE WILL
what happens to

WE HAVE , I HAVE

but they have already done that now they HAVE sign a treaty with headsmen that will impact on the deaths of nigerians

treaties or no treaty, things must work sir..