Buhari lauded for signing AfCFTA
Posted on July 10, 2019 by Editor in Africa, Business, General News, News
President of Nigeria, Muhammadu Buhari.
The Buhari Media Organization (BMO) has commended President Muhammadu Buhari for signing the African Continental Free Trade Agreement (AfCFTA) after exhaustive consultation with relevant stakeholders in the country.
BMO made this known in a statement issued in Abuja on Tuesday and signed by its Chairman, Niyi Akinsiju and Secretary, Cassidy Madueke.
AfCFTA is a trade agreement with the goal of creating a single continental market followed by free movement of goods, people and an African single currency union.
According to the group, Buhari has enabled a convergence of opinions among diverse stakeholders on the necessity of the AfCFTA.
It stated that If properly operationalised, the agreement will benefit Nigeria in numerous ways being the largest economy in Africa as well as the continent's biggest market.
"Nigeria is as important to the AfCFTA as the United Kingdom is to the European Union (EU). Being the largest market and largest economy in Africa, the free trade agreement will open the borders of 51 subscribing countries to the agreement to product and services originating from Nigeria.
"We also note the sense of patriotism with which President Buhari has continued to engage the realisation of the African Continental Free Trade Agreement.
"Especially in relation to obvious concerns over dumping and smuggling of third party countries' products and services masquerading as emanating from AfCFTA participating countries," it said.
According to the group, BMO vigorously supports Buhari's advocacy on fair trade in the bid to discourage other participating African countries from using their jurisdiction as points of illegal access to Nigeria's huge market to the detriment of the country's domestic manufacturers and service providers.
"Buhari has declared that he desires free trade in the goods produced by Africans in Africa.
"The president has insisted on the application of the 'rules of origin' to ensure that only products that are manufactured with over 80 percent of raw materials sourced within the continent qualify for trade within the African Continental Free Trade Agreement.
"Without doubt, the AfCFTA holds a lot of promise for Nigerians. These include access to a single market of more than 1.2 billion people, increased industrial and manufacturing capacities and rapid job creation," it said.
The group urged Nigerians to lock-in into the huge potentials offered by the African Continental Free Trade Agreement for development networking opportunities across the African continent.
However, BMO has lauded the recent success recorded by security operatives in cracking high profile cases in the country are proofs of better coordination and cooperation among the security agencies.
The group attributed the rescue of the Daura District Head, Musa Usman and the arrest of his abductors as well as the arrest of those behind the murder of former Chief of Defence staff Air Chief Retired Marshal Alex Badeh, to the achievements recorded by security agencies.
"This is further proof that the capacity of security agencies, especially that of the police has improved tremendously.
"We have all seen how the police, within one week, rescued the District Head from the claws of his abductors after two months in captivity, and also paraded the people who killed the former CDS along the Abuja-Keffi highway in December last year.
"It is also commendable the manner that Alhaji Usman who is the father-in-law of President Buhari's Aide De Camp (ADC), Col. Mohammed Abubakar was rescued by a police team after a two-hour gun battle in Kano," it said.
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