AfCTA: Nigeria Should Not Bring Its Domestic Problems to AU, Says Obasanjo

Former President Olusegun Obasanjo has said the African Free
Continental Trade Area (AfCTA) agreement will not be hindered by
Nigeria’s reluctance to sign up to the process.

Obasanjo spoke in Addis Ababa, Ethiopia, during the opening
session of the stakeholders’ dialogue on continental trade and
strengthening the implementation of the AfCTA.

The dialogue, according to TheCable, was organised by the
African Union Commission (AUC) and the Coalition for Dialogue on
Africa (CoDA).

The former president was reacting to concerns raised by one of
the discussants, on the need for stakeholders to look into the
implications of AfCTA without Nigeria, the continent’s biggest
economy.

He said Nigeria should resolve its “domestic problems” and not
bring such to the AU.

Nigeria, Benin and Eritrea are the only countries on the
continent yet to sign the AfCTA agreement.

The agreement has, however, achieved the minimum number of
ratification, 22 countries, needed for its implementation.

Obasanjo, who recalled that Nigeria took over the processes
leading to the AfCTA agreement from Egypt, wondered why it suddenly
halted signing the agreement.

“It is nobody’s fault if your country cannot resolve its
domestic problem,” Obasanjo said.

“If you (Nigeria) is not signing the agreement, it is
unfortunate. AfCTA will go on without Nigeria. You will recall that
this is the first time since 1976 that Nigeria is not at the table
of a major continental process. Nigeria should settle its problem
at home and not bring it to the AU.”

Obasanjo also said feelers from the AfCTA remain positive,
adding that meetings would be extended to other stakeholders,
including Africa’s central banks, customs and security
agencies.

He said the removal of trade barriers does not mean the removal
of other statutory agencies at various national border posts.

He, however, commended the issuance of visas at the point of
entry by some African countries, saying the gesture was a positive
step in the direction towards the movement of people across the
continent.

AfCFTA is a trade agreement between 49 AU member states, with
the goal of creating a single market followed by free movement and
a single-currency union.

The AfCTA is expected to help African countries eliminate high
tariffs and enhance intra-African trade.

The Gambia was the 22nd country to ratify the agreement, a year
after it was first introduced while Nigeria, Africa’s largest
economy, has not reached a decision on its participation in the
agreement.

President Muhammadu Buhari had backed out saying the country he
could not sign agreements without understanding the terms.

“Already, some of the treaties we are party to have been
significantly abused, resulting in massive smuggling which has
crippled many of our local industries and destroyed millions of
jobs,” Buhari had said.

“To avoid these past mistakes, we conducted vast consultations
across the country in which the LCCI participated. The responses
have been mixed.”

Subscribe ToNairalaw News!