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FG claims Nigeria Ready to Reap from AfCFTA Benefits
President Muhammadu Buhari has expressed Nigeria’s readiness to partner with African economic zones to benefit from the African Continental Free Trade Area (AfCFTA) agreement. Buhari gave the indication in Abuja, at the fifth African Union Symposium on Special Economic Zones (SEZs) and Green Industrialization, and the 7th edition of the African Economic Zones Organisation (AEZO) annual meeting.
AfCFTA is a free trade area encompassing most of Africa. It is an agreement that is expected to create the largest free trade area in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at $3.4 trillion. Buhari, who was represented by the Minister of Niger Delta Affairs, Mr. Umana Okon Umana, also urged the stakeholders to critically examine factors inhibiting the growth of free zones in Africa and come up with appropriate strategies to address identified challenges.