" Nigeria is more ready than any other African country. We have laid a solid foundation for this day to come. We are the largest economy in Africa, with the largest population, the largest market and we are a very resource-rich country. And in addition, we have not yet exploited our mineral resources. The African oil giant cannot afford to miss this economic zone, " says Professor Ken Ife, micro-economist analyst.
Despite the optimism displayed by the Nigerian, it should be recalled that Abuja had hesitated before ratifying the agreement, believing that the CFTA would favor the most competitive states to the detriment of the most developed economies. In addition, several local companies feared that their business would collapse due to the influx of goods from China or Europe via African neighbors.
Entered into force on January 1 , the African Continental Free Trade Area will have to connect 1.3 billion people within a trade bloc worth $ 3400 billion.
A common market to which 54 countries have already given their agreement and 34 have ratified the CFTA. An opportunity for one of the continent's leading economies.