President Muhammadu Buhari has finally signed the African Continental Free Trade Area (AfCFTA) agreement.
Eye Naija understands that the President signed the AfCFTA at the 12th extraordinary session of the assembly of the union on AfCFTA, the first mid-year coordination meeting of the African Union (AU), as well as the regional economic communities (RECs) in Niamey, Niger Republic.
Eye Naija reports that the President signed the agreement at exactly 10:48 am on Sunday, July 7; a development that makes Nigeria the 53rd country on the continent to append its signature to the document.
AfCFTA is a trade agreement between AU member states with the goal of creating a single market followed by free movement and a single-currency union.
Eye Naija Recalls that President Buhari had said he delayed signing the agreement “to give room for extensive consultations with stakeholders”.
Pres. @MBuhari signs, on behalf of Nigeria, the Agreement Establishing the African Continental Free Trade Area (#AfCFTA), at the opening of the 12th Extraordinary Session of the Assembly of African Union Heads of State and Govt, in Niamey, Niger Republic, July 7, 2019 #AUSummit pic.twitter.com/Y9miko2GBP
— Presidency Nigeria (@NGRPresident) July 7, 2019
Buhari signed the deal one week after members of the Economic Community of West African States (ECOWAS) agreed to launch ECO, proposed single currency in the region.
The heads of the 15-member countries reached this decision at the 55th ordinary session of ECOWAS in Abuja, Nigeria’s capital.