For fear of losing traffic and associated industry advantages, the Airline Operators of Nigeria (AON) has called on the Federal Government not to sign the African Continental Free Trade Area treaty (ACFTA).
The continental deal which is expected to facilitate a single market of more than one billion people from the 54 member states of the African Union (AU), is scheduled for signing by African heads of state in Kigali, Rwanda on March 21 and 22, 2018.
Besides, Chief executive of the Manufacturers’ Association of Nigeria (MAN), Chief Frank Jacobs cautioned against the signing, saying it will unnecessarily open the nation’s borders to influx of goods and services that are already produced in Nigeria, saying it will cause shocks in industrial productivity.
Explaining why it is not to the nation’s advantage to sign the ACFTA, Chairman of AON, Capt. Nogie Meggison, said the country was not ready to handle the level of unfair competition that the full implementation of the SAATM or the signing of the AfCFTA would bring upon the country, and that both treaties would be counter-productive.
Business Hilights recalls that AfCFTA, coming on the heels of the recently signed Single African Air Transport Market in January, had the potential of impacting the Nigerian economy negatively.
According to him, “Nigeria cannot be said to be ready to handle the level of unfair competition that the full implementation of the SAATM or the signing of the AfCFTA would bring upon the country, and that both treaties would be counter-productive”.
“Those pushing for the SAATM/AfCFTA programme were targeting Nigeria’s large population, economy and the young population, who travel extensively around the world, to the detriment of the country.
The presidency is yet to make any reply to the clarion calls against signing the treaty in Rwanda later this month.
