President of the Senate, Dr. Ahmad Lawan, has said for the African Continental Free Trade Agreement (AfCFTA) to yield expected results, the pact must be backed by requisite legal frameworks, right policies, and robust implementation.
Lawan made this known when he received a visiting delegation from the African Continental Free Trade Area Secretariat, led by its newly elected Secretary-General, Wamkele Keabetswe Mene, on Tuesday in Abuja.
The Senate President, who was represented by the Deputy Senate Leader, Senator Ajayi Boroffice, said the intention of Nigeria’s decision to sign the agreement on July 7, 2019, during the 12th Extra-Ordinary Summit of Heads of State and Government, in Niamey, was to benefit Africans on the continent and beyond.
According to Lawan, aside facing the challenges of unemployment, and underemployment, which have been a trigger for both regular and irregular migrations, the economies of African countries have been characterised by low productivity, reduced efficiency, and the problem of limited resources.
He, therefore, described the 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.”