President Muhammadu Buhari,
Thursday in Abuja explained why he refused to sign Economic Partnership Agreement
(EPA) among ECOWAS countries.
He said this was because of the
need to protect the economy, especially the industries and small businesses
that currently provide jobs for majority Nigerians.
Buhari spoke while receiving a
Letter of Credence from the Head of Delegation of the European Union to
Nigeria, Ketil Iversen Karlsen, at the State House, Abuja.
The President noted that the
signing of the agreement will expose the industries and small businesses to
external pressures and competitions, which could lead to closures and job
losses.
“We are not enthusiastic about
signing the EPA because of our largely youthful population. We are still
struggling to provide jobs for them, and we want our youths to be kept busy.
“Presently, our industries cannot
compete with the more efficient and highly technologically driven industries in
Europe. We have to protect our industries and our youths,’’ he said.
Buhari, who commended the EU for
its support for the rehabilitation of the North East, noted that the Nigerian
economy was already being repositioned to attract more investments that will
create jobs.
President Buhari said his
administration will continually promote the culture of honesty and integrity in
service, which will guarantee a better future for the youth.
“Our insistence on probity is to
encourage people to be accountable, and accept honesty as a lifestyle so as to
secure the future of our youths,’’ he said.
The President said more than 60
percent of Nigerians fall into the age category of youths and deserve to
inherit a stable and prosperous country that they can be proud of, adding that
the government will work assiduously to prevent waste and the depletion of
resources by corrupt Nigerians.
In his remarks, Karlsen said the
EU will continue to support President Buhari’s administration in the key
priorities it listed; security, economy and the fight against corruption.
He said the EPA was designed to
accommodate and protect some economies that would find it difficult to compete.
“We are hopeful that there will
be a signature on the agreement,’’ he added.
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