The African Continental Free Trade Agreement Policy will cripple the economy and leave more Nigerians unemployed, the Nigeria Labour Congress (NLC) has warned.
The agreement, it said, will expose the economy to unbridled foreign intervention, allowing many foreign companies to operate in the country without employing Nigerians.
The congress asked President Muhammadu Buhari not to sign the policy document by the Federal Ministry of Trade and Investment, saying it lacks the inputs of relevant stakeholders, including Organised Labour.
NLC President, Comrade Ayuba Wabba, in a statement argued proponents of the document were supposed to consult stakeholders, including Labour and the local business community because of its likely implication on the economy.
Wabba dismissed the policy document as extremely dangerous and radioactive neo-liberal policy initiative, warning it will have a creeping effect on the economy if it comes to effect.
He said: “This policy initiative, for instance, will make it possible for a foreign airline to directly do local scheduled flights without employing Nigerians.
“We are more worried by the probable outcome of this policy initiative if it is given life because of its crippling effect on the local businesses and attendant effects on jobs.
“We find it confounding at a time nations, including the United States are resorting to protectionism in defence of their local businesses and protection of jobs, we have the audacity to want to fling open our doors, windows and roof tops.”
He added: “We have no doubt that this policy initiative will spell the death knell of the Nigerian economy.
“Accordingly, we urge Mr. President not to sign this agreement either in Kigali or anywhere.
“We believe our national interest is at stake and nothing should be done to compromise this.”
Wabba explained further: “The African Continental Free Trade Agreement rather than unite Africa will only divide it the more.
“Rather than enrich Africa, it will only pauperise it the more. Those pulling the strings of this radioactive agreement are somewhere, well concealed and protected in the metropolis of the world. They have had this all thought-out and profits computed well ahead.
“There is no doubt we have need of foreign investment. But in our view, such investment should not be a poisoned chalice. So, once again, we urge Mr. President not to sign the agreement.”
