President Goodluck Jonathan


By  Ahamefula Ogbu     

President Goodluck Jonathan has canvassed for the speedy implementation of the Continental Free Trade Zone, which he however doubted, given the delays that have attended the provision of its critical infrastructure for its take off, saying the 2017 target may not be realistic.

Speaking at a forum during the 18th ordinary session of the Assembly of Heads of State and Government of African Union (AU) in Addis Ababa, Ethiopia at the weekend, Jonathan told the United Nations Secretary General, Ban Ki-moon, that the period of the petrol subsidy removal protest was a tasking one for him, but added that it was a difficult decision he had to take to save Nigeria from future pains.

He also promised to take up oil spill compensation issues with Shell Petroleum Develop-ment Company (SPDC) with a view to amicably resolving it.
He called for the strengthening and the replication of Regional Economic Communities which has enhanced free movement of trade and services so as to increase the volume of trade among African countries which was a precursor to the continued economic growth.

Jonathan said in his opening speech at the AU summit that Africa should work harder to position their economies as the global economic shocks might not allow the African economy to record the projected 5 per cent growth in the Gross Domestic Product (GDP) by 2020.

According to him, regional and other economies in Africa should press for aggressive infrastructural build up through bodies already established for them as well as take on new initiatives to enhance trade and productivity.

He said that all efforts should be geared towards making the African economy self sustaining and stable.

“In the final analysis, my assessment of the progress towards the Continental Free Trade Area does not lead me to believe that 2017 is a realistic target for its take-off.  Several of the key enablers that I have already enumerated, not to mention other challenges and constraints, remain lacking. For this reason, I am not convinced that by 2017 these challenges would be overcome to enable the smooth take-off of a trade regime that caters to the needs of all our countries and RECs.

“For the time being, in our words and deeds, we can and must do more to realise the objectives of the Programme for Infrastructural Development in Africa (PIDA), the Accelerated Industrial Development of Africa (AIDA) Initiative, African Productive Capacity Initiative (APCI), as well as the Action Plan for Development of Science and Technology, among others. It is by implementing these plans that we can hasten the emplacement of a Continental Free Trade Area that would stand the test of time and deliver on its promise.

“Before I end my remarks, I would like to recommend that the proposed CFTA Action Plan and its programmed cluster of activities be regarded by the Assembly as guidelines to address the identified challenges and constraints.  The launching of the Continental Free Trade Area should follow at an appropriate and more realistic time.  Now is the time for the Assembly to give consideration to a multi-speed development of the CFTA to allow states to join at a pace that best suits their needs.  After all, in both the common markets of the European Community (EC) and Association of South East Asian Nations (ASEAN), members were not required to all join at the same time,” Jonathan said.

He commended the leadership of the AU which he said piloted its affairs at a challenging time like the one that saw several conflicts in Libya, Tunisia, Egypt and Cote d’Ivoire and called on the new AU Chairman, Mr. Boni Yayi, to build on what his predecessors left behind.
Jonathan particularly thanked the People’s Republic of China for donating and constructing the edifice which is housing the AU which he said symbolised friendship between Africa and China.

Jonathan said that to ensure that the right stimulus to African economic growth was cemented, there was need to give Africa voice in the global arena and warned that Continental Free Trade Area without adequate infrastructure might not unleash the expected opportunities.

“My optimism notwithstanding, I should caution against rigidity on a Continental Free Trade Area.  Our experience with setting free trade targets in West Africa, leads us to believe that the multi-faceted benefits of a Continental Free Trade Area cannot be achieved without adequate infrastructure policy, legal, socio-political and cross-border security frameworks.

“Of equal importance is the need for guaranteed and predictable sources of funding for the implementation of projects. Indeed, our best efforts can bear very little fruit unless there is partnership between the public and the private sectors at the international, continental and national levels.  

“I should add at this juncture, that a favourable international environment is also needed to complement our domestic efforts.  In this regard, I wish to call for greater political will and commitment to conclude the Doha trade negotiations to enable Africa benefit meaningfully from trade as the engine for development.  Other measures must include granting Africa greater voice, representation and participation in decision making in international financial and development institutions.  Besides, there is need for consistency, coherence and transparency in dealings with Africa.

“These lessons from our regional perspective are essential and germane for building a viable, fair and trouble-free Continental Free Trade Area. Above all, the total package of institutional and systemic enablers must all be in place.  These include the provision of adequate infrastructure, policy and regulatory frameworks, conducive social, political and economic environment, financial services and support to businessmen and women, locally and across borders. If addressed, these measures will assist in reducing the anticipated adjustment costs, as well as put less pressure on the compensatory system and ensure cost-effective governance architecture for the Continental Free Trade Area,” he advocated.

He further told Ki-moon: “The duration of the protest was challenging, but I am happy that it ended well,” and thanked him for the support the country had been getting from the world body.

Ki-moon commended his courage to remove the oil subsidy which he said was necessary to stimulate economic growth and commiserated with him over the lives lost in the terror attacks and pledged his cooperation to end the terror attacks.