AfCFTA: Does Nigeria run a significant risk with structural issues?

In an interview published by Vanguard on February 7, the general manager and chief executive officer, Vitafoam Nigeria Plc, Taiwo Adeniyi, identified major structural concerns with Nigeria harnessing the African Continental Free Trade Area (AfCFTA) open economy benefits. He said that the influx of similar products would stimulate price war with the Nigerian market due to her structural inadequacy.

Considering the intensified competition that an open economy would demand, he also warned that the competition for Nigerian companies is at a loose end because of the high costs of production compared to other international companies. He corroborated his argument by highlighting Nigeria’s seemingly eternal problem of an epileptic power supply…..

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