NIGERIA’S INDUSTRIAL SECTOR IS TOO WEAK TO PARTICIPATE IN THE CONTINENTAL FREE TRADE AREA (CFTA)admin
NIGERIA’S INDUSTRIAL SECTOR IS TOO WEAK TO PARTICIPATE IN THE CONTINENTAL FREE TRADE AREA (CFTA)
The attention of the United Labour Congress of Nigeria has been drawn to the forward and backward movement by Nigeria in its effort to either join the CFTA or abandon it. ULC commends the President for putting a halt to its hurried signing and we berate the aides who wanted to rail road Nigeria into this very agreement that would have finally become the death knell of the fragile industrial sector.
Nigeria is not only an importer nation but also an economy with weak infrastructural base thereby increasing the cost of the products produced in Nigeria.
If signed, the CFTA will only encourage industrialized countries to use other African Nations to push their products to the Nigerian market thereby killing locally produced goods.
Also, we are shocked when at a time when other counties of the world including America are resorting to protectionism in defence of their local manufacturers, ours is trying to open the economy to be finally killed. We reject it in its entirety.
GENERAL SECRETARY ULC