We are still consulting on Africa trade pact – Osinbajo

Vice President Yemi Osinbajo has assured of Nigeria’s continued interest in joining the African Union Continental Free Trade Agreement (CFTA).  Osinbajo stated this yesterday at the opening of the international arbitration, mediation and negotiation programme organised by the International Dispute Resolution Institute (IDRI) and the United Nations Commission on Trade Law (UNCITRAL) in Abuja. The […]

Vice President Yemi Osinbajo has assured of Nigeria’s continued interest in joining the African Union Continental Free Trade Agreement (CFTA). 

Osinbajo stated this yesterday at the opening of the international arbitration, mediation and negotiation programme organised by the International Dispute Resolution Institute (IDRI) and the United Nations Commission on Trade Law (UNCITRAL) in Abuja.

The VP, who was represented by the Secretary to the Government of the Federation (SGF), Boss Mustapha, said the Federal Government is still engaging domestic stakeholders on the free trade agreement. 

“We understand that it came as a surprise to Africa and even the world when Nigeria did not sign the agreement initially. You Can be rest assured that multiple stakeholders as Nigeria are very interested in taking the right steps towards deepening intra-Africa trade,” he said.

He said the agreement represents “a new dawn for the African continent” by turning the continent into a modern, full-fledged single market. 

He said the government is committed to delivering on its plan to make the economy more sustainable and competitive through the Economic Recovery and Growth Plan (ERGP) and creating the right business environment and enhancing the ease of doing business in the country.

In her speech, the Secretary General of UNCITRAL, Anna Joublin-Bret, said the organisation will continue to encourage Nigeria’s participation in its work of modernising and harmonising rules of international business.

Also speaking, the Director of Regional Centre for International Commercial Arbitration, Wilfred Ikatari, said the centre decided to collaborate with the organisers of the event because of its role in the promotion of international arbitration in the West African subregion, coordination of activities and assistance to existing arbitration organisations in the region, among others.