Buhari not enthusiastic about trade agreements says nigerian industries cant compete

A recent news article!

According to reports, Nigerian President Muhammadu Buhari has expressed reservations about entering into trade agreements with other countries, citing concerns that Nigerian industries are not yet competitive enough to benefit from such agreements.

In a statement, the President's office said that Buhari believes that Nigeria's industries need to be strengthened and made more competitive before the country can benefit from trade agreements. The President reportedly made this comment during a meeting with the National Assembly Committee on Trade and Investment.

The President's concerns are likely rooted in the fact that Nigeria's economy is heavily dependent on oil exports, and the country's manufacturing sector is still developing. Many Nigerian industries, including textiles, food processing, and manufacturing, face challenges such as inadequate infrastructure, high energy costs, and a lack of skilled labor.

Buhari's stance is seen as a cautious approach to trade agreements, which could potentially benefit Nigeria's economy in the long run. However, it also raises concerns about the country's ability to compete with other nations that have more developed industries and trade infrastructure.

It will be interesting to see how this plays out in the coming months and years, as Nigeria continues to navigate the complexities of global trade and economic development.