AfCFTA is the first step in the implementation of AU Agenda 2063: The “Vision” for an integrated, prosperous and peaceful Africa. The Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, broke the news when he briefed State House reporters along with the Minister of Foreign Affairs, Geoffrey Onyeama, on the outcome of the meeting. The meeting was presided over by Vice-President Yemi Osinbajo at the Council Chamber of the Presidential Villa in Abuja. Enelamah said President Muhammadu Buhari would sign the agreement on AfCFTA during the Extraordinary Meeting of African Union Heads of State and Governments on March 21. Enelamah said: “What we did today was to secure approval for the stage we are now. “First, the Heads of State and Governments of the African Union (AU), in January 2012, made a decision in Addis Ababa to establish CFTA just as an economic policy for regional integration. Of course, in that process, we have got to a point where they set some deadlines. “At meetings they had sometime in 2016 and 2017, they wanted the framework agreement to be in place at the end of 2017 but they postponed it, that the Heads of State will like to sign an agreement on March 21, 2018. “So, that framework agreement is now scheduled to be signed in Kigali on March 21 by the African Heads of State and Government.’’ The minister listed the benefits of the AfCFTA, saying it would expand market access for Nigeria’s exporters of goods and services, spur growth and boost job creation. He said the agreement would also “eliminate barriers against Nigeria’s products and provide a Dispute Settlement Mechanism for stopping the hostile and discriminatory treatment directed against Nigerian natural and corporate business persons in other African countries. Enelamah added: “Establish rules-based trade governance in intra-African trade to invoke trade remedies, such as safeguards, anti-dumping and countervailing duties against unfair trade practices, including dumping, trans-shipment of concealed origin of products.’’ According to him, Nigeria will also express interest to host the secretariat of AfCFTA due to the fact that Nigeria played an important role in the matter. Also, the Minister of Water Resources Suleiman Adamu said FEC approved the variation of the Jare Earth Dam from N3 billion to N11 billion with a mandate to complete the project within 36 months. NAN reports that the contract for the dam project, located in Bakori Local Government Area of Katsina State, was first awarded in 2006 at the cost of N3 billion, but was later abandoned.]]>

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