Why I Employ Delay Tactics In Signing Treaties – Buhari

* inaugurates committee to assess AfCFTA risks

President Muhammadu Buhari on Monday said he takes into
consideration the impact bilateral treaties will have on Nigeria
before appending his signature.

He made the remark while inaugurating the nation’s Committee for
Impact and Readiness Assessment of the African Continental Free
Trade Area.

He said Nigeria will henceforth take its time to break away from
the past practice, where treaties were signed without making the
needed positive gains for the country.

“We are determined to break away from the past practice of
committing Nigeria to treaties without a definite implementation
plan to actualise the expected benefit while mitigating the
risks.

“We cannot go back to the days of signing agreements without
understanding and planning for the consequences of such actions and
our country being the worst for it.

“A few months ago, I directed a nationwide stakeholders’
engagement on the Africa Free Trade Continental Area Agreement to
understand the true impact of this agreement on Nigeria and
Nigerians, considering the existing domestic and regional policies
as it relates to trade.

“From the consultation, the key issues raised by stakeholders
were abuse of rules of origin, smuggling arising from difficulties
in border controls, unqualified impact of legacy preferential trade
agreements, low capacity and capability of local businesses to
conduct international trade, costly finance, insufficient energy
and transport logistics infrastructure but our Economic Recovery
and Growth Plan is addressing these issues,” he said.

While giving terms of reference, Buhari charged the committee to
concentrate on the issues raised during the nationwide
consultations in order to find lasting solutions to them.

He said: “Your task as members of the impact and readiness
assessment of the African continental free trade area committee is
to address the issues raised during the stakeholders’ consultations
on the Africa Continental free trade Agreement. You are expected to
develop short, medium and long-term measures that will address any
challenges arising therefrom.”