Nigeria to grow its export by 15% through continental trade bloc - AfCFTA

ABUJA - Nigeria’s President Muhammadu Buhari has revealed that the country willfully taps into the African Continental Free Trade Agreement (AfCFTA) to increase its exports by more than 15 percent in fishery, textile, leather, wood and papers, metals, electronics, vehicles, and transport equipment.

“Following the AfCFTA reform, Nigeria’s exports will increase significantly to other African sub-regions, outside West Africa, with most impressive expansions to countries such as Botswana, Cameroon, Egypt, Ethiopia, Kenya, Malawi, Morocco, Mozambique, Namibia, Rwanda, Tanzania, Uganda, and Zimbabwe”.

The head of state was speaking at the ninth African Shippers’ Day with the theme: “African Continental Free Trade Agreement: A Veritable Platform for African Shippers’ to Mainstream into Global Trade,” on Monday in Lagos.

President Buhari opined that “For AfCFTA to have a positive influence on long-term investment in productive capacities, African government must develop appropriate supporting policies, build the requisite infrastructure and ensure an educated workforce. We will need to actively promote productive employment and decent workplace, women’s empowerment, food security, and reduction in inequalities.”

On the issue of the cross-sector approach, the outgoing president stated that a cross-sectoral approach is needed to make AfCFTA possible to overcome the existing constraints to intra-African trade.

The Nigerian Government adopted the Phase II Protocols of the African Continental Free Trade Area ( AfCFTA) last year.

African leaders must also build the requisite infrastructure and also actively promote productive employment and a decent workplace, to explore the benefits of the African Continental Free Trade Agreement (AfCFTA).

GAROWE ONLINE