konga Ad Campaign konga Ad Campaign konga Ad Campaign
ADVERTISEMENT
  • The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Wednesday, June 29, 2022
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
African Union [Photo: Wikipedia]

African Union [Photo: Wikipedia]

MAN supports Buhari on refusal to sign African trade agreement

byPress Release
March 21, 2018
2 min read

The Manufacturers Association of Nigeria (MAN) ‎on Wednesday strongly supported the move by the federal government on its refusal to sign the agreement establishing the African Continental Free Trade Area (AfCFTA).

The association frowned at the contents of the agreement, noting that it will lead to gross unemployment in the country as most manufacturing companies in the country will be made to die a quicker death.

The Association President, Frank Jacobs said his association would not support federal government’s adoption and ratification of the agreement establishing the African Continental Free Trade Area (AfCFTA) until issues of market access and enforcement of rules of origin are addressed.

According to MAN, the agitation from the private sector was a result of lack of consultation and inclusion of inputs of key stakeholders before Nigeria’s position was presented at the meetings of the African Union-Technical Working Group on CFTA in the build-up to AfCFTA negotiation by Nigeria.

The AfCTA is expected to create a trade bloc of 1.2 billion people with a combined gross domestic product (GDP) of more than $2 trillion. The agreement commits countries to removing tariffs on 90 per cent of goods and to liberalise services.

Addressing journalists yesterday, Mr. Jacobs explained that the issues of market access that allows only 10 per cent of products to be protected as well as government’s enforcement mechanism in the area of enforcement of rules of origin need to be clearly defined before local producers can support the agreement.

Noting that MAN is not oblivious of the benefits inherent in installing a continental trade agreement like AfCFTA that could improve intra-African trade and enhance economic growth and sustainable development, Mr. Jacobs said that Nigeria’s national interest should however be the primary consideration in the decision to sign-on to such an arrangement.

In his recommendations, Mr. Jacobs urged the government to set in motion a process that will enable all stakeholders on the international trade value chain in Nigeria to quickly review the text of the draft AfCFTA agreement and come up with comments on areas that are not in the best interest of the Nigerian economy and sectors.

“Government should, as matter of urgency, convene a special meeting of the relevant stakeholders, including experts on trade policy to consider tariff lines rates along the line of efficiency, sectoral and sub-sectoral preferences that would be most beneficial to Nigerian businesses under the AfCFTA dispensation as well as reconsider the national position on EPA vis-a-vis the AfCFTA especially on tariff lines of products on the sensitive/exclusion list, with a view to ensuring that the EU-EPA is not reintroduced through the AfCFTA’s back door.

“Review presentations and prepare a detailed submission for the Government on ways and means of participating in the AfCFTA in a manner that our national interest and that of the budding manufacturing sector are effectively protected”, he added.

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket


CITIZEN-FM AD


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: Call Willie - +2348098788999






PT Mag Campaign AD

Previous Post

Bill Gates visits Nigeria

Next Post

OAU hands over own students to police

Press Release

Press Release

More News

Buhari appoints two Deputy Commissioners for NAICOM

NAICOM revokes licences of Standard Alliance, Niger Insurance

June 28, 2022
File: Motorists for long Fuel queues at NNPC Petrol station at CBD Abuja.

Fuel Scarcity: Abuja deliveries up nearly 100% after govt freight offer — Regulator

June 28, 2022
Russian President, Vladmir Putin

Russia defaults on foreign debt for first time since 1918

June 27, 2022
G7 leaders during #G7Summit2022 in Germany [PHOTO: TW @DDNewslive]

G7 leaders unveil $600 billion plan to rival China’s infrastructure initiative in developing countries

June 27, 2022
top stocks to watch this week

PZ Cussons, GTCO, Africa Prudential top stocks to watch this week

June 27, 2022
Naira Notes

Naira gains at official market

June 25, 2022
Next Post
Confusion as OAU management forces students out of hostels

OAU hands over own students to police

Farmers/Herders conflict: Jigawa community gives herders one month to quit settlement

Farmers/Herders conflict: Jigawa community gives herders one month to quit settlement

Read All Comment

Search

AUN-PT Ad




Access Bank Ad







Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,899,066 other subscribers.

Advertisement




netherland biz school Advert



ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • #PandoraPapers
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • AUN-PT Data Hub
  • Opinion
  • The Membership Club
  • DONATE
  • About Us
  • Advert Rates
  • PT Hausa
  • Dubawa NG
  • Careers
  • Contact Us
  • Digital Store

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.