Nigeria aims to look inwards to push outwards
By Jeph Ajobaju, Chief Copy Editor
Nigeria plans to export non-oil goods and services worth $43.2 billion every year, broken down as $1.2 billion by each of the 36 states, a lofty idea hinged on the African Continental Free Trade Agreement (AfCFTA).
AfCFTA National Action Committee (NAC) Secretary Francis Anatogu made the disclosure in Abuja at a joint news conference with the Nigeria Governors’ Forum (NGF) on the AfCFTA Subnational Strategy Workshop.
He said AfCFTA growth cannot be sustained without improving the capacity of the people in a way compatible with the comparative advantage of every state, per the News Agency of Nigeria (NAN).
Anatogu explained that the first objective of the implementation plan is to grow the export of each state to $1.2 billion with a focus on products where there is a competitive advantage.
He said the workshop would put Nigeria on course to make the AfCFTA goal a reality.
__________________________________________________________________
Related articles:
AfCFTA can grow African trade finance, experts say
AfCFTA primed to end poverty for 100m Africans
__________________________________________________________________
Looking inwards to push outwards
“Over the next three days, the NAC-AfCFTA will create a platform to engage and interact with State Technical Working Groups expected to be in attendance, Anatogu enthused.
“This is with the goal of reaching an understanding of tailoring their economic and development plans to include the requirements of the AfCFTA.
“There is need to ensure that the groups are aware of the support available from the Federal Government and lay the foundation for a single vision and strategy between federal and state governments, to push the AfCFTA agenda in Nigeria.”
AfCFTA seeks to promote export trade, deepen economic integration of the continent, create a single market for goods and services with free movement of Africans and investments among member countries from January 1, 2021.
It also seeks to eliminate 90 per cent of tariffs and reduce non-tariff barriers to enhance intra-African trade and form the foundation of the establishment of a continental customs union, thereby creating the largest single market in the world.
“For Nigeria,” Anatogu stressed, “the AfCFTA will re-energise our country’s aspirations for industrialisation and position Nigeria as the destination market for goods and services of the highest standards (finished or not) for the 1.2 billion consumers this agreement has brought to our door step.
“Traditionally, over 80 per cent of imports in Africa are sourced from Europe, Asia and the Americas.
“For us, with Nigeria being greatly blessed with both natural and human resources, the AfCFTA drive is about looking inwards to push outwards.”
