Acknowledging Nigeria’s market size despite continued downtime in the implementation of the African Continental Free Trade Area (AfCFTA) agreement, the AfCFTA secretariat has established that achieving the trade objectives is incomplete without Nigeria implementing the protocols.
Almost one year after the implementation of the AfCFTA commenced, Nigeria is yet to unveil guidelines and implementation strategy for the trade deal, raising concerns for the organised private sector.
The Secretary General, AfCFTA, Wamkele Mene, while speaking at the Africa Day of the Lagos International Trade Fair (LITF) themed, ‘Boosting intra-African trade’, noted that without Nigeria, the implementation of the AfCFTA would be incomplete.
Though he lauded the efforts of the Ministry of Industry, Trade and Investment, he said the potential of the AfCFTA market expansion is supported by market capacity to boost trade volumes and increase GDP growth per capita, while maintaining that market liberalisation will encourage SMEs to contribute to global supply chains.
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