A group, Nigeria Awake Group (NIWAG), has called on Federal Government to urgently reverse its decision to take part in the proposed African Continental Free Trade Agreement (AfCFTA) signed by 27 African Union member states in Kigali, Rwanda, describing the forum as an instrument of neo-colonialism.
NIWAG gave the advice on Sunday in a statement signed by its national coordinator, Mr Banjo Aladesanmi, saying the agreement which was aimed at restricting trade barriers between the different pillars of the African Economic Community was a deliberate attempt at promoting imperialism and insecurity.
The group with membership strength of over 70,000 across the country, therefore, urged President Muhammdu Buhari, Minister for Trade and Investment, Otunba Niyi Adebayo, and the Minister for Foreign Affairs, Geoffrey Onyeama, as well as leadership of the Manufacturers Association of Nigeria, (MAN) to critically assess the economic and security implications of the agreement before the final implementation.
“On our part as stakeholders of over 70,000 members across the country, we urged President Muhammdu Buhari, Minister for Trade and Investment, Otunba Niyi Adebayo, and the Minister for Foreign Affairs, Geoffrey Onyeama, as well as leadership of the Manufacturers Association of Nigeria (MAN) to critically assess the economic and security implications of the agreement before the final implementation,” NIWAG said.
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The group said findings showed that AfCFTA was another instrument introduced by developed nations of the world in order to continue to dominate the African economy conveniently, declaring that there was no comparative advantages derivable from it than subjecting the country local investors in particular and African continent in general to hardship and perpetual closure of business operation.
“At the moment, some developed nations are already constructing large plants and warehouses across neighbouring countries, where they planned to be dumping products and moving them across African nations, including Nigeria. We want to categorically state that AfCFTA is signed by African countries but to be of much benefits to developed nations.
“This will cause a serious setback for our industrialists because Nigerian markets would have been flooded with goods both legal and illegal items produced and sponsored by developed nations and channelled through any Africa member states for sale,” the group said.
“If other African countries are bringing goods to Nigeria considering our large population, where do we take our goods to, considering their small sizes and population?” it queried.
“Apart from the economic disadvantages on the Nigerian economy, AfCFTA will also promote insecurity because member- nations shall have the immunity of free movement of persons and goods across Nigerians border thereby aiding and abetting insurgency.
“By the time they succeeded in disrupting the relative peace we are enjoying through the smuggling of arms and ammunition with other goods into the nation resulting into massive death and destabilisation of our socio-economic activities, they shall offer to support us financially and take over our political sphere,” NIWAG further said.