President Buhari signs AfCFTA agreement that will positively impact the Agricultural Sector

Earlier in the week he promised to sign it during an AU summit. The President signed the agreement on Sunday at the opening of the 12th Extra Ordinary Session of the Assembly of African Union Heads of State and Government in Niamey, Niger Republic. Nigeria’s President Muhammadu Buhari signed the agreement for the African Continental Free Trade Area (AfCFTA) Sunday, fulfilling a promise he made earlier in the week. "Nigeria will sign the #AfCFTA Agreement at the upcoming Extraordinary Summit of the African Union in Niamey, Niger," the presidency tweeted late Tuesday. True to his word, the President signed the agreement on Sunday at the opening of the 12th Extra Ordinary Session of the Assembly of African Union Heads of State and Government in Niamey, Niger Republic. Benin's President Patrice Talon also signed the agreement, with both him and President Buhari receiving rapturous applause at the summit, AFP reported. Africa's economy could rise to top Nigeria says to sign Africa free trade pact AfCFTA now live, but cautious optimism advised Africa to decide on free-trade zone: what’s at stake? Fifty-four of the 55 African Union member countries signed onto the deal, with only Eritrea holding out. Nigeria had been a key backer of the plan to progressively reduce trade barriers on the continent since talks on the African Continental Free Trade Area got underway in 2002. However, it changed course shortly before the deal was signed last year following pressure from local unions and businesses that feared they would be uncompetitive if trade barriers are removed. Last week, a special government panel formed to study the potential impact of joining AfCFTA, recommended that President Buhari sign Nigeria up. Prince Adetokunbo Kayode, President of Abuja Chamber of Commerce and Industry (ACCI), commended the Federal Government on its decision to sign the AfCFTA agreement. “Nigeria signing the AfCFTA does not in any way expose it to any economic or social hazards…It [AfCFTA] has adequate and all necessary safeguards against smuggling, dumping and other risks or threats to the internal development of individual countries in the region,” he said. Mr Kayode, who is also the AU Trade Policy Ambassador and Vice President of the Pan African Chambers of Commerce and Industry (PACCI), said the Organised Private Sector (OPS) supports the agreement, and foresees its benefits to the Nigerian economy. “What is important to us in the OPS is the need to immediately log into the initiative,” he said. How does this impact the agricultural space? We should know that Nigeria is endowed with lands, human capital and the age demographics favors the young. We must take advantage of this agreement by increasing our exports within the continent. Let the Palm Oil, Onions, Cabbage, Cocoa starting growing and then our balance of trade within Africa will swell and it will impact positively on the masses and the generality of the citizens. We have a lot to benefit if all of us can generate one crop or vegetable for sales outside the shores of Nigeria. This administration promised and fulfilled it by giving us this gift and opportunity to show case what we are capable of doing. Let us make the best use of it. Nigeria has a lot to gain as regards this agreement. Youths wake up, women you have the strength and our man this challenge. And when we look back we shall have reason to thank God.

Yours in the garden Farm2Markt