Buhari canvasses single market to create jobs, reduce poverty

PRESIDENT Muhammadu Buhari Monday canvassed for the speedy establishment of a single, unified market in Africa to increase trade, create more jobs and reduce poverty.

The President made the call while presenting Nigeria’s position in favour of the Report on the establishment of a Continental Free Trade Area (CFTA) and related issues presented by President Mahamadou Issoufou of Niger Republic, during the 30thordinary Session of the Assembly of Heads of State and Government in Addis Ababa, Ethiopia.

According to President Buhari, “It is Nigeria’s position that as African leaders and principal architects of our Union, we must now speed up action to conclude the negotiations and establish the CFTA.”

Noting that the continent has missed the timeline set by the African Union (AU) in January 2012 to establish the CFTA in 2017, he said African leaders still had the opportunity to set it up by March 2018.

A statement by Senior Special Assistant on Media and Publicity, Garba Shehu yesterday quoted President Buhari as justifying Nigeria’s vote for the CFTA. The President said:

“In a rapidly changing global economy, with much uncertainty, we believe that the establishment of a CFTA would provide Africa with tremendous opportunity to achieve significant growth driven by intra-african trade.”

According to him, while the stakes in setting up CFTA are no doubt very high, the benefits are wide-ranging and significant.

“The primary objective is economic namely, for trade in goods and services on the continent. A single, unified market would lead to a comprehensive and mutually beneficial trade agreement amongst African Union Member States.