ARCAN COMMENDS PRESIDENT BUHARI FOR SIGNING THE FREE TRADE AGREEMENT
- We are confident that the economies of scale arising from the agreement will bring about sustained growth and more prosperity to Nigeria as the largest economy in Africa.
Former Nigerian ambassadors are happy with the bold step taken by President Mohammadu Buhari as he signs the African Continental free trade agreement (AfCTA), the action reaffirms Nigeria’s long-standing and abiding commitment to African Unity, free trade and continental economic integration as encapsulated in the 1980 Lagos Plan of Action for the Economic Development of Africa and the African Economic Community Treaty of 1991.
Ambassador Shinkaiye said
ARCAN expects economic operators in Nigeria, especially the manufacturing sector to use the new window of opportunities created by the agreement to increase productivity and expand the export market outlets for Made-in-Nigeria goods.We also remain confident that the economies of scale arising from the agreement will bring about sustained growth and more prosperity to Nigeria as the largest economy in Africa, he said.
Former Nigerian Ambassadors under the aegis of Association of Retired Career Ambassadors of Nigeria (ARCAN) have congratulated President Muhammadu Buhari for signing the African Continental Free Trade Area Agreement (AfCTA). In a letter signed by Ambassador John K. Shinkaiye, ARCAN said it fully “welcomed this important foreign policy decision taken after due consultations with all stakeholders in the country, in recognition of the promotion and protection of Nigeria’s national interests.
The AfCFTA was signed by Buhari at the 12th Extra-ordinary Summit of the African Union in Niamey, Niger Republic on 7 July 2019. Nigeria has been under considerable pressure to sign the agreement before now, but Buhari had insisted that Nigeria would sign after due consultation.
