Why we won’t sign free trade agreement — Buhari

President Muhammadu Buhari said Nigeria has been reluctant to
sign the Economic Partnership Agreement (EPA) among ECOWAS
countries to protect her economy, especially the industries and
small businesses currently providing jobs for majority
Nigerians.

He said signing the agreement would expose industries and small
businesses to external pressures and competitions, which could lead
to closures and job losses.

The president said this at the Aso Rock Presidential Villa
yesterday, while receiving a letter of credence from the head of
delegation of the European Union to Nigeria, Ketil Iversen
Karlsen.

He said, “We are not enthusiastic about signing the EPA because
of our largely youthful population. We are still struggling to
provide jobs for them, and we want our youths to be kept busy.

“Presently, our industries cannot compete with the more
efficient and highly technologically driven industries in Europe.
We have to protect our industries and our youths.”

Commending the EU for its support for the rehabilitation of the
northeast, Buhari said Nigerian economy was being repositioned to
attract more investments that would create jobs.

Karlsen said the EU would continue to support Buhari’s
administration in the key priorities it listed; security, economy
and the fight against corruption.
He said the EPA was designed to accommodate and protect some
economies that would find it difficult to compete.

“We are hopeful that there will be a signature on the
agreement,’’ he stated.

Buhari also received letters of credence from the Ambassador of
Italy, Dr. Stefano Pontesilli and the Ambassador of Spain, Mr
Marcelino Cabanas Ansorena.

President Muhammadu Buhari said Nigeria has been reluctant to
sign the Economic Partnership Agreement (EPA) among ECOWAS
countries to protect her economy, especially the industries and
small businesses currently providing jobs for majority
Nigerians.

He said signing the agreement would expose industries and small
businesses to external pressures and competitions, which could lead
to closures and job losses.

The president said this at the Aso Rock Presidential Villa
yesterday, while receiving a letter of credence from the head of
delegation of the European Union to Nigeria, Ketil Iversen
Karlsen.

He said, “We are not enthusiastic about signing the EPA because
of our largely youthful population. We are still struggling to
provide jobs for them, and we want our youths to be kept busy.

“Presently, our industries cannot compete with the more
efficient and highly technologically driven industries in Europe.
We have to protect our industries and our youths.”

Commending the EU for its support for the rehabilitation of the
northeast, Buhari said Nigerian economy was being repositioned to
attract more investments that would create jobs.

Karlsen said the EU would continue to support Buhari’s
administration in the key priorities it listed; security, economy
and the fight against corruption.
He said the EPA was designed to accommodate and protect some
economies that would find it difficult to compete.

“We are hopeful that there will be a signature on the
agreement,’’ he stated.

Buhari also received letters of credence from the Ambassador of
Italy, Dr. Stefano Pontesilli and the Ambassador of Spain, Mr
Marcelino Cabanas Ansorena.