Legal framework, needed for AfCFTA to succeed, says Lawan

FOR the African Continental Free Trade Agreement (AfCFTA) to yield the expected results, it must be backed by requisite legal frameworks, right policies and robust implementation, Senate President, Ahmad Lawan, has said He spoke when the delegation from the African Continental Free Trade Area Secretariat, led by its new Secretary-General, Wamkele Keabetswe Mene, visited him in Abuja.

Represented by the Deputy Senate Leader, Prof Ajayi Boroffice, said Nigeria’s aim to sign the agreement was to benefit Africans. According to Lawan, aside facing the challenges of unemployment, and underemployment, which had led to migration, the economies of African countries had been characterised by low productivity, reduced efficiency, and limited resources.

He described AfCFTA as “a step in the right direction for the growth of African economies, through limited restrictions, leading to the stimulation of trade, commerce, and industry”.

“In signing the AfCFTA, and depositing the instrument with the African Union Commission, our countries made a statement on the determination of our collective economic fate.

This fate is in our hands, through requisite legal frameworks, right policies, and a robust implementation.

“The initial momentum from the signing of the agreement needs to be continued, for a greater continental impact, to benefit Africans, both on the continent and outside it,” he said.