African continental free trade area (CFTA) and the Nigerian economy: Should Nigeria Join?
The Nigerian action of declining to sign the agreement for creating the biggest regional free trade area in the world may not be justified. The creation of the African Continental Free Trade Area was a welcome development in the continent but Nigeria, which is the largest economy and most populous country in the region, decided to withdraw from signing the agreement. This study uses data employs a descriptive analysis of data sourced from the annual reports of the Central Bank of Nigeria and finds that Nigeria can benefit more than any other country in the region. Hence, joining the Continental Free Trade Area will be a good decision if the objective of the government is to improve the productivity of the private sector as well as the welfare of the people. However, the major obstacles to doing business in Nigeria, must be address. These issues are the poor electricity supply, difficulty in accessing finance, corruption, tax rates and transport.
Adamu Jibrilla. African continental free trade area (CFTA) and the Nigerian economy: Should Nigeria Join?. International Journal of Humanities and Social Science Research, Volume 4, Issue 6, 2018, Pages 146-149