ADDRESS BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT OF THE
FEDERAL REPUBLIC OF NIGERIA, AT THE INAUGURATION OF THE NATIONAL ACTION COMMITTEE FOR THE IMPLEMENTATION OF MTHE AFRICA
CONTINENTAL FREE TRADE AREA AGREEMENT (AfCFTA) , FRIDAY 20 DECEMBER 2019
PROTOCOLS:
It is my pleasure to
welcome and address you the Members of the National Action Committee for the
Implementation of the African Continental Free Trade Area Agreement on the
occasion of your Inauguration.
2. As you also know, Trade is pivotal to
job creation, growth and health of the economy. It is also a key enabler for
regional and global integration.
3. The
African Continental Free Trade Area Agreement is an important part of the
African Union- 2063 Agenda to promote economic and social integration on the
continent.
4. We are
very hopeful of creating a single African market for “Made -in- Africa” goods
and services. This trade, together with free movement of people and capital
will result in faster integration of African economies.
5. As a
government, we must ensure that Nigeria’s position remains that, such
integration must be rules-based with built-in safeguards, against injurious
practices.
6. Nigeria’s
approach to the African Continental Free Trade Area Agreement has been very
measured and consistent. Our logic was simple, as Africa’s largest economy and
most populous nation, we cannot afford to get it wrong.
7. We
consulted all key stakeholders. We also conducted a rigorous impact and
readiness evaluation. It was after these consultations and studies, and
satisfactory reports that I signed the African Continental Free Trade Area
Agreement on behalf of Nigeria in July this year.
8. We know
the benefits and understand the challenges. It is clear that for us to fully
benefit from this agreement, we must have an implementation programme that
reflects our national trade objectives and development plans.
9. This
therefore requires aligning, restructuring existing development projects,
programme and initiatives. Where there are gaps, we must address them. Accordingly we have established the National
Action Committee on AfCFTA.
10. As a
Committee, your mandate is to support the efforts of Ministries, Departments
and Agencies of government, stakeholder associations and businesses to realize
the benefits of the AfCFTA, while putting measures to address any threats that
may arise. All parties must work together and not allow any loopholes that
might prove injurious to the Nigerian economy.
11. I have
directed all key Ministers and Senior Government officials to provide maximum
support to your Committee.
12. For us as a
government, our expectation from this agreement is job creation for our youth,
increased production of our local raw materials and ultimately, exporting
quality Made in Africa goods.
13. You are to
submit quarterly reports on your progress, and I look forward to receiving your
first report in March 2020.
14. It is now
my pleasure to inaugurate the National Action Committee on the African
Continental Free Trade Agreement.
15. Congratulations and best of luck on your national assignment.
16. Thank you
and God bless the Federal Republic of Nigeria.
