AFRICAN CONTINENTAL FREE TRADE AREA AND THE NIGERIAN ECONOMY: Matters Arising
- Akpan H. Ekpo
- Oba Efayena
- ( paper pages. 323 - 340 )
Abstract
Although the theoretical case for adopting the African Continental
Free Trade Agreement (AfCFTA) is firmly established, there are
matters arising for Nigeria to participate effectively. This paper
considers such matters and posits that there is the need to address
the multiple exchange rates regime, hard and soft infrastructure,
review the existing trade policies as well as the matter of re-exporting from neighboring countries, among others. In addition,
management of the economy must ensure that economic
fundamentals such as the rate of inflation, growth of GDP,
unemployment and lending rates are moving in the right direction.
The need to build a strong domestic economy is important for
Nigeria to benefit from the AfCFTA. In the final analysis, what is
essential is fair trade among member countries.
Citation
Akpan H. Ekpo, Oba Efayena.
2021.
"AFRICAN CONTINENTAL FREE TRADE AREA AND THE NIGERIAN ECONOMY: Matters Arising"
The Nigerian Journal of Economic and Social Studies,
63 (3): 323 - 340.
JEL Classification
F13, F15
