FEC Ratifies Nigeria's Membership of AfCFTA Ahead of December 2020 Deadline

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Wednesday, November 11, 2020 / 05:59 PM / By Proshare Research  / Header Image Credit: Twitter; @NigeriaGov


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The Federal Executive Council (FEC) today Ratified Nigeria's membership of the African Continental Free Trade Area (AfCFTA), ahead of the December 5, 2020 deadline.

 

The AfCFTA Agreement comes into effect on the 1st of January 2021.

 

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The Honourable Minister of Industry, Trade and Investment states that AfCFTA creates a single continental market for goods and services, free movement of business persons and investments,  expands intra-African trade  & aims to enhance competitiveness for our  industries and MSMEs.

 

It will be recalled that President Muhammadu Buhari, had earlier in July 2019, on the sidelines of the 12th extraordinary session  African Union Heads of State and Governments Meeting in Niamey, Niger signed the African Continental Free Trade Agreement, on behalf of Nigeria.


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