SAN FRANCISCO, May 22, (THEWILL) – The House of Representatives Wednesday kicked against the proposed Economic Partnership Agreement (EPA) between the European Union (EU) and West African countries. It consequently directed its Committees on Treaties and African, Caribbean and Pacific Group of states (ACP) to review the proposed partnership.
The Speaker, Aminu Waziri Tambuwal, had at the plenary said he had “reservations” over the proposed economic deal which will open economies of the West African region to free trade with the European Union.
October 1 is the deadline for signing of the EPA with the European Union.
Tambuwal’s declaration was sequel to the passage of a motion sponsored by Hon. Micah Umoh (Akwa Ibom/PDP) on the need for the country’s legislature to be involved in the negotiation processes leading to a possible agreement.
While leading debate on the motion, Umoh submitted that: “If Nigeria endorses the new European Union Economic Partnership Agreement, we will inadvertently transfer job opportunities of our children to their children and we will become dumping ground of their goods to the total annihilation of our industries and manufacturing systems which is meant to create jobs for our people.”
He noted that “The deadline of October 1 for signing of this EPA with European Union if consummated will undermine the rising status of Nigeria as an economic power and will undermine the strategic advantage of our youthful population which remains a strong resource if given opportunity.
After a unanimous adoption of the motion, Tambuwal directed the House Committees to invite the National Planning Commission (NPC); Ministry of Industry, Trade and Investment and other relevant local stakeholders for a briefing on where things stand and to know Nigeria’s position on the contentious proposed economic deal.
It will be recalled that early this year, West African leaders failed to agree to the deal after Nigeria voiced concerns, endangering a decade of talks over a deal. The region has consistently resisted lifting tariff barriers over fears they could crush nascent industries unable to cope with European imports.
Under the EPA, the European Union would immediately offer the 15-member ECOWAS and non-member state Mauritania full access to its markets. In return, ECOWAS would gradually open up 75 percent of its markets – with their 300 million consumers – to Europe over a 20-year period.
Technical negotiations wrapped up in February with the European Union offering a 6.5 billion euro (5.37 billion pounds) package over the next five years to help ECOWAS shoulder the costs of integrating into the global economy.
SAINT MUGAGA, ABUJA
