Presidency now listening to OPS, cancels Rwandan trip to avoid ACFTA deal
The change of mind of the Presidency on signing of the framework agreement for establishing the African Continental Free Trade Area (ACFTA) treaty became clearer on Sunday following the cancelation of the planned attendance of President Muhammadu Buhari to Kigali, Rwanda on Wednesday, March 21.
Business Hilights had last week Thursday, published a story on the clear opposition of several interest groups against signing the deal in Rwanda this week. (http://businesshilights.com.ng/dont-sign-african-continental-free-trade-area-treaty-man-aon-tell-fg/).
Though the Federal Executive Council (FEC) presided over by Vice-President Yemi Osinbajo had approved the signing of the agreement last Wednesday while Buhari was on a visit to Yobe State, the Nigerian government is tactically holding on its vote as a way of listening to the outcries of Organised Private Sector (OPS) operators.
OPS led by the leadership of the Manufacturers’ Association of Nigeria (MAN) had voiced opposition to the deal, saying if signed; the Nigerian market will be exposed to influx of goods produced in the country and in the process cause deadly shocks on the ailing industrial sector which is yet to recover from the recession.
However, the presidency had smartly observed that calling off the visit was not unconnected with an administrative error committed by government in not fully carrying out enough consultation before the FEC jumped to announce readiness to sign the ACFTA framework agreement for establishing the African Continental Free Trade Area.
Apart from MAN, the Airlines Operators of Nigeria (AON) also kicked against the continental deal on grounds of possible loss of destinations to much stronger and better structured African airlines.
The development was put to rest following a statement issued Sunday by the spokesman of the Ministry of Foreign Affairs, Tope Elias-Fatile, explaining the cancellation of the presidential trip.
The statement made it clear that“President Muhammadu Buhari has cancelled his trip to Kigali, Rwanda to attend an Extra-Ordinary Summit of the African Union on Tuesday, March 21, to sign the framework agreement for establishing the African Continental Free Trade Area”.
“This is to allow more time for input from Nigerian stakeholders,” he wrote.
Stakeholders including the Nigeria Labour Congress (NLC) had kicked against the signing of the agreement.
Business Hilights recalls that the Minister of Trade and Investment, Dr Okechukwu Enelamah, had told State House correspondents at the end of last week’s FEC meeting that with the approval, President Buhari was expected to sign the agreement during the extraordinary meeting of African Union Heads of State and Government holding on March 21 in Kigali, Rwanda.
Enelamah recalled that Heads of State and Governments of AU had in January 2012 decided to establish ACFTA as an economic policy for regional integration.
