Story highlights Nigeria declines to sign Economic Partnership Agreement

Deal aims to bring West Africa-EU trade agreement

Lagos, Nigeria (CNN) While the UK prepares to leave one of the world's largest trading blocs, Africa's most populous country, Nigeria, is declining to join one in the first place.

Nigerian President Buhari is yet to sign the Economic Partnership Agreement (EPA), which aims to establish a free trade area between 16 West African countries (and Mauritania) and the European Union.

In a statement delivered in the Nigerian capital Abuja Thursday, the Nigerian president said he didn't sign to protect national industries and the country's youth population.

"Our industries cannot compete with the more efficient and highly technologically driven industries in Europe."

"We are not enthusiastic about signing the EPA because of our largely youthful population," he said.