1st June, 2018
The Nigeria Bar Association (NBA) has urged the Federal Government to endorse Africa Continental Free Trade Agreement (AFCFTA) to enable Nigeria reap economic benefits of intra African trade.
Mr Olamide Akpata, Chairman, NBA Section on Business Law (SBL),said that Nigeria’s endorsement of AFCFTA would greatly enhance legal practice in the country.
Akpata spoke with newsmen in Lagos on the forthcoming 12th Annual Business Conference of the NBA-SBL holding from June 27 to June 28 in Abuja.
He said that the conference, themed, “Bringing Down Barriers: The Law as a Vehicle for Intra-Africa Trade”, would facilitate views on AFCFTA and discuss possibilities of its effectiveness in the country.
“The economy will be greatly impacted by the AFCFTA as it would improve the lives of Nigerian citizens and take the legal profession continental.
“The dynamics of the legal profession will change and we lawyers would examine the opportunities available for us when the AFCFTA takes effect,” he said.
Nigeria and nine other African countries are yet to sign the AFCFTA agreement.
Earlier, Mr Olaseni Adio, member NBA SBL, said that a discussion on “Trading across Africa” at the conference would give Nigeria an opportunity to showcase its products across Africa.
“There would be a platform for the African Union (AU) to participate and discuss with representatives of the federal government on the concerns and fears raised by it.
“The benefits far outweighs the concerns and this is an opportunity to bring both parties to the table,” he said.
Adio, a Senior Advocate of Nigeria (SAN), said that the conference would be targeted at reviewing the country’s laws and regulations to enhance business.
He said legal practitioners should be well prepared to resolve disputes that would flow from intra African commerce and trade.
“The SBL has also undertaken to train 100 young lawyers on law practice in the AFCFTA during the conference,” he added.
Among the speakers expected at the conference President Paul Kagame of Rwanda and Ambassador Chiedu Osakwe, Nigeria’s Chief Trade Negotiator, among others.