ISDS Case Map
Nigeria
EU’s Deputy Head of Delegation noted that the EU will not hesitate to withdraw the free access to European market enjoyed by the resenting countries: Nigeria, the Gambia and Mauritania.
Nigeria is to establish a free trade zone with Kenya, South Africa and Egypt. The four countries have already worked out modalities for establishing the zone.
Social Action has asked the federal government to not to sign the Economic Partnership Agreement with the European Union. Ghana and Ivory Coast have also resisted the EPA
A report authored by Social Action, a social development organisation, indicates that Nigeria stands to loose up to $1.3 trillion in forms of customs duties, taxation and other revenue sources throughout the 10 year implementation period of Economic Partnership Agreement (EPA).
Any attempt to encourage cheap EU imports will not only retard local production, it may also be counter-productive to the country’s industrialisation plans.
The European Union has asked Nigeria to sign the Economic Partnership Agreement with attractive offers including a €6.5bn (about N1.4tn) Development Programme.
The Manufacturers Association of Nigeria (MAN) has admonished the federal government to withhold its endorsement of the ECOWAS-EU economic partnership agreement.
Considering the mismatch of the two regions (Europe-ECOWAS) the Manufacturers Association of Nigeria and Associated Trade Unions raised concerns over the negative impact of the agreement on Nigeria’s industrialisation programme.
House of Representatives call for caution in the implementation of the EPA between EU and Nigeria.
The negative effects of opening up 75 percent of ECOWAS markets, with its 300 million consumers, to Europe over a 20-year period, are legion and cut across all facets of the economic life of Africa.
