The AfCTA was signed by President Muhammadu Buhari on Sunday.
The Senate on Thursday asked the federal government to enlighten the Nigerian business community on how to leverage on the immense benefits of the African Continental Free Trade Area agreement.The agreement was signed several months after Mr Buhari initially refused to sign. About 52 other African countries had already signed by then.
The Senate Leader, Abdullahi Yahaya, said “it is one thing to sign a free trade agreement and another thing to yield opportunities from the agreement”. “Yes, we are the largest country but we are the largest consuming economy because we fail to take advantage of the trade agreement that we sign with other countries,” he said.“We have not attracted enough attention to utilise the raw materials we have. If we are not careful, we will end up as a raw material supplier to industries set to in Benin Republic,” he said.Kola Balogun explained the need to improve Nigeria’s infrastructure.
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