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We can’t sign agreements without understanding the terms, conditions – Buhari

Published

6 years ago

October 26, 2018

President Muhammadu Buhari says Nigeria is “ too big and too diverse to blindly sign agreements ” without understanding the consequences of such actions .
The President made the declaration when he received representatives of the Lagos Chamber of Commerce and Industry , led by its president , Mr . Babatunde Ruwase , at the Presidential Villa , Abuja, on Friday.

Buhari used the occasion of his audience with members of the LCCI to explain his decision to inaugurate a Presidential Committee to assess the potential costs and impact of the agreement establishing the African Continental Free Trade Area for Nigeria .

According to him , Nigeria is still assessing the impact of this agreement on its backward integration and import substitution policies .

He said : “ Specifically , the provisions on rules of origin and trans shipment were matters of concern to us .

“ Already , some of the treaties we are party to have been significantly abused , resulting in massive smuggling which has crippled many of our local industries and destroyed millions of jobs .

“ To avoid these past mistakes , we conducted vast consultations across the country in which the LCCI participated . The responses have been mixed . ’’

( NAN )