Buhari Okays Panel to Implement AfCFTA

By Adedapo Adesanya

President Muhammadu Buhari has approved the formation of a National Action Committee (NAC) charged with the responsibility of implementing the African Continental Free Trade Area (AfCFTA) Agreement for Nigeria.

This came few weeks after the President signed the AfCFTA agreement in Niamey, Niger Republic. The pact was signed on July 7.

In a statement issued by the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, on Sunday, Business Post gathered that the committee would include representatives of Ministries and Agencies, selected stakeholder groups from the private sector and civil society organizations to coordinate the implementation of the agreement.

Mr Shehu further disclosed that the committee would engage various stakeholders on the economy for sensitisation on the opportunities and challenges of the AfCFTA, with preparedness plans for the Nigerian economy.

“The National Action Committee (NAC) will upon inauguration, undertake a process of engagement with stakeholders to sensitize them on the opportunities and challenges of the AfCFTA, with preparedness plans for the Nigerian economy.

“Upon ratification, Nigeria will domesticate the Agreement by incorporating it into existing laws or enacting new laws, as appropriate. The engagement shall shortly start with the National Assembly,” the presidential spokesman said.

Mr Shehu also added: “The work of the AfCFTA Presidential Committee was preceded by a nationwide sensitisation process directed by the President. The report and consultative process raised the bar in the engagement of government with stakeholders and set a standard for building support for strategic areas of public policy with clarity on concrete parameters for implementation action.”

According to him, the AfCFTA Agreement has two phases of negotiations.

“The Phase I negotiations culminated in the Agreement establishing the AfCFTA, the Protocol on Trade in Goods, Protocol on Trade in Services, and the Protocol on the Rules and Procedures on the Settlement of Disputes. These were adopted by the African Union Heads of States in Kigali on 21st March 2018.

“The Phase II negotiations are expected to commence in January 2020 and will cover competition, investment and intellectual property rights,” he stated.