Nigeria commits to signing AfCFTA
12 Jul 2018 - by
Nigerian president Muhammadu Buhari has committed to signing the African Continental Free Trade Area (AfCFTA) agreement in the near future.
Speaking at a media conference during a visit by president Cyril Ramaphosa to Abuja, Nigeria, yesterday, he said that the country had been hesitant in signing the agreement as it was trying to avoid hurting its young industries.
The AfCFTA, if implemented, could increase intra-Africa trade by half by 2022 according to a report by the African Export-Import Bank. So far, 44 countries have signed the agreement with South Africa becoming a signatory earlier this month.