FG Directs MDAs to Clear Barriers to AfCFTA Implementation

James Emejo in Abuja

The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, yesterday called on regulatory agencies of government to focus on streamlining border processes, reducing trade barriers, and implementing harmonised standards and regulations ahead of the full implementation of the African Continental Free Trade Area Agreement (AfCFTA).

Speaking at the opening of the Onboarding Business/Exporters Workshop on AfCFTA- Guided Trade Initiative (GTI) which was organised by the Nigerian Export Promotion Council (NEPC) and the AfCFTA Coordinating Office in Abuja, the minister said through investment in modern trade infrastructure including transportation networks and digital platforms, Nigeria could create an enabling environment for businesses to thrive and compete globally.

Adebayo, pointed out that remained an integral part of the AfCFTA, which aims to facilitate and enhance trade activities by providing businesses and exporters with the necessary tools, knowledge, and support – and recognises the critical role that the private sector plays in driving economic development as well as empowering enterprises of all sizes to fully capitalise on the benefits offered by the continental trade initiative.

He identified value addition and industrialisation, skills development and capacity building as well as trade facilitation and logistics as three priority aspects that would guide Nigerian businesses under the AfCFTA as the country accelerate the implementation of the historic trade deal.
He said, “Today, as we inaugurate the onboarding process for businesses and exporters onto the GTI, we mark a significant milestone.
“This initiative will act as a compass, guiding businesses through the intricate landscape of trade, enabling them to navigate the challenges and seize the opportunities that lie ahead.
“Through GTI, we intend to bridge the information gap, streamline processes, foster collaboration, and unlock the full potential of intra-African trade.  I stand here today with a vision of a united Africa, bound by the spirit of cooperation, innovation, and shared prosperity.

“The AfCFTA presents an extraordinary opportunity to harness our collective strengths, leverage our abundant resources, and create an integrated market that will drive sustainable economic development for our continent. To the businesses and exporters joining the GTI, I commend your foresight and determination.”
In his remarks, Executive Director/Chief Executive, NEPC, Dr. Ezra Yakusak, said the workshop jointly organised by the council and the AfCFTA Coordinating Office, couldn’t have come at a better time in view of the declaration by the Heads of State and Government of the Year 2023 as the year for the acceleration of AfCFTA implementation.

He said the programme was aimed at enlightening, educating, networking and test-running the agreement on select companies from Nigeria, stressing that the key objective was to kick-start the process of preparing Nigerian exporters/businesses for onboarding to the GTI.
Yakusak, noted that NEPC as the apex organisation for the development and promotion of non-oil export was strategically positioned to assist in providing the right platform for Nigerian companies to gain access to major markets, especially in Africa in line with the objectives of AfCFTA.
He noted that of the top 10 importers of Nigerian products, no African/ECOWAS country made it to the top 10 list.

According to him, Nigeria’s export to Africa excluding ECOWAS for the year 2022 stood at $450 Million.
A total of 58 different products were exported to 20 non-ECOWAS Countries and this was carried out by 144 Nigerian companies.
He said, “It is my pleasure to inform you that the NEPC with the supervision of the Ministry of Industry Trade and Investment and collaboration of other stakeholders are working tirelessly to change this trajectory, especially in the wake of the AfCFTA.
“The Cairo, Lomé, Nairobi Export Trade Houses and the proposed one coming up in Johannesburg and the spearheading of Nigeria’s participation in trade fairs, solo exhibitions, trade missions among others are initiatives aimed at boosting non-oil export with our African neighbour and by implication promotion economic integration within Africa.

“This collaborative effort with the AfCFTA Coordinating Office and other organisations, both public and private are targeted at encouraging intra-Africa trade as well as increasing our presence and market share within the African continent.”

On his part, Executive Secretary, National Action Committee on AfCFTA, Mr. Segun Awolowo, described the GTI programme as an important milestone in Nigeria’s economic history as “we embark on a transformative journey towards harnessing the immense potentials of this ground-breaking initiative.”

He emphasised the urgency with which the country must galvanise efforts to fastrack the implementation to achieve the laudable objectives of AfCFTA for Nigerians and indeed Africans.

He said, “We understand from experience that to accelerate implementation, we need robust collaborations with critical stakeholders and we must collectively prioritise collaboration over competition.

“Accordingly, in line with our mandated coordination role, we are reaching out and seeking synergies with all stakeholders as we move forward to deliver on an accelerated AfCFTA Implementation.”