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African Continental Free Trade. Why Did We Abstain? - Politics - Nairaland

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African Continental Free Trade. Why Did We Abstain? by AloyalNigerian(m): 5:48pm On Jul 03, 2018
I still don't really understand why we didn't sign that thing. Are there any disadvantages I'm not seeing?

Please let me know. Thanks.
Re: African Continental Free Trade. Why Did We Abstain? by Nobody: 6:42pm On Jul 03, 2018
Lots of disadvantages, our manufacturing sector will die. Why? the cost of production in most African countries is cheaper than in Nigeria due to high cost of power etc. Making it cheaper to produce in let's say Ghana and move freely to Nigeria. The manufacturing sector in Nigeria is focused more on the domestic market and once you take away this market, the sector will practically collapse because it cannot compete internationally. This is mainly because of the operating environmental challenges in Nigeria. So maybe the government realised this and decided to hold on in order to review the whole thing once again.
There are attractions for a free trade zone but the economics are quite against us...
Re: African Continental Free Trade. Why Did We Abstain? by AloyalNigerian(m): 9:53pm On Jul 04, 2018
Thanks bro
Re: African Continental Free Trade. Why Did We Abstain? by RZArecta2(m): 10:10pm On Jul 04, 2018
Buhari, your idíot lesbian goat of a president doesn't like anything that will benefit the ordinary Nigerian man. The fóol signed the Europe/West Africa trade agreement shortly after assuming power and he also signed a similar trade agreement with the Americans recently. Those two deals are heavily skewered against us as a country and resurgent manufacturing hub and the only way we could have balanced things out was this AU agreement. Op, those mind the BMC zombies telling you the AU agreement wouldn't benefit us, let's forget about West Africa since we have that region on a lockdown already. How many African economies can really challenge ours in the manufacturing sector once we really put our minds to it ? Informally, we're thriving already at least as far as central Africa b with my little investigation. I'm talking about our small scale manufacturers from the SE. Like I said, Buhari doesn't like anything that will benefit Nigeria and this AU agreement would have benefited us immensely whether any zombie or his idíot master likes it or not cool
Re: African Continental Free Trade. Why Did We Abstain? by Horus(m): 3:23pm On Jun 12, 2019

https://www.youtube.com/watch?v=8mzV8ZjR_II

African free trade zone comes into force

The historic African free-trade zone came into force on Thursday, as the African Union celebrated making one more step toward creating a continent-wide market of 1.2 billion people worth $2.5 trillion.*

"This is a historic milestone!" tweeted Albert Muchanga, AU commissioner for trade and industry.

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