• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Why AfDB is confident that Nigeria will sign the ACFTA soon

Charles Abuede by Charles Abuede
June 16, 2019
in Business News, Politics
Infrastructure Credit Guarantee Company, InfraCredit, InfraCredit secures $15 million from AfDB, African Development Bank
Share on FacebookShare on TwitterShare on Linkedin

The African Development Bank (AfDB) is confident that the continent’s largest country, Nigeria, will soon sign the Africa Continental Free Trade Agreement (ACFTA).

Speaking with newsmen on Sunday, the AfDB’s Director of Industrial and Trade Development, Dr. Abdu Mukthar, said that for the agreement to be really worthwhile, Africa’s largest country has to be part of it. He, however, stressed that he thinks the Nigerian Government is finalising discussions with key relevant stakeholders.

“I understand the Nigeria government has been making consultations with the private sector, manufacturers association and so on. I have been talking to some of these people in Nigeria and I think the reason why they have been skeptical is that they don’t understand what is in it for them. So, what we could also do as a bank to provide that support to the Nigerian private sector is to organise a session for them.”

RelatedStories

Independence day – Women, wealth, and the call for financial freedom 

Nigeria slips to 66th position in 2025 Global Startup Ecosystem Index  

May 31, 2025
Developing countries may likely bear the brunt of OPEC’s oil production cuts – IEA

Nigeria, Ivory Coast, and Mozambique set for 10 offshore drilling projects by 2027 

May 5, 2025

Boosting Rate of Trade: He further stressed that the bank was executing lot of projects in Nigeria, saying that Nigeria is an important member of the bank. He urged Nigerian entrepreneurs and business owners on the continent to seize the opportunities and advantages from the bank, to ensure that they trade within Africa and also meet up with the Europeans and Latin Americans by increasing our rate of trade.

According to Mukhtar;

“Nigeria should see it as their own bank, come to us whenever they have good projects that they want financing, especially on the private sector side.

“People think the AFDB only work with government but the key message I will like you to pass on is that we do a lot of private sector business as well and we will like to work more with the private sector business and support their expansion.”

Aim of the ACFTA: The free trade agreement, which was adopted on March 21, 2018, seeks to create a single market for goods and services as well as enable the movement of persons with the aim of deepening economic integration on the continent. Presently, only 22 countries (excluding Nigeria) have signed to the agreement.

Free trade agreements are aimed at bringing down trading barriers, specifically tariffs and import quotas, thus, encouraging free movement of goods and services among member countries.

Bottom line: Analysts are of the opinion that should Nigeria sign this agreement, it will lead to the influx of foreign goods and services in the country, thus making Nigeria a dumping ground. They also believe that a potential signing of the deal would promote economic and trade integration across the continent.


Follow us for Breaking News and Market Intelligence.
Tags: African Continental Free Trade AgreementAfrican Development Bank (AfDB)Free Trade agreementNigeriaNigerian Business News
Charles Abuede

Charles Abuede

Charles Abuede is a graduate of Economics and Statistics from the University of Benin. He has worked as a business correspondent at Voidant Wireless Service (Pryde TV) and Entrepreneurs.ng. He is currently a Research Analyst at Nairametrics. You can reach him on Charles.abuede@nairametrics.com or @CharlesAbuede on LinkedIn and @AbuedeCharles on twitter.

Related Posts

Independence day – Women, wealth, and the call for financial freedom 
Sectors

Nigeria slips to 66th position in 2025 Global Startup Ecosystem Index  

May 31, 2025
Developing countries may likely bear the brunt of OPEC’s oil production cuts – IEA
Energy

Nigeria, Ivory Coast, and Mozambique set for 10 offshore drilling projects by 2027 

May 5, 2025
Nigeria pledges support for BRICS to drive global finance reforms and multilateral cooperation among partners 
Economy

Nigeria pledges support for BRICS to drive global finance reforms and multilateral cooperation among partners 

April 30, 2025
UK,Rwanda
"Japa"

Japa: UK deports immigration offenders and failed asylum seekers to Nigeria and Ghana 

April 27, 2025
IMF Projects 3% economic growth rate for Nigeria in 2025 
Economy

IMF to FG: Stay vigilant, trade tensions may hurt Nigeria’s earnings 

April 23, 2025
Cost of cooking pot of Jollof Rice in Nigeria rises by 13.7% to N12,373
Economy

A pot of jollof rice now costs N25,486 in Nigeria, up by19% in 6 Months

April 23, 2025
Next Post
Nigeria's oil reserves dropped

Why Nigeria's crude oil reserves dropped to 36.97 billion barrels

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • NITDA signs agreement with Japanese consortium to build Abuja startup hub  
  • Oyo Govt approves N63.4 billion to renovate Government House 
  • NDLEA to establish full-scale drug control operations at Benin Airport 

Follow us on social media:

Recent News

NITDA signs agreement with Japanese consortium to build Abuja startup hub  

NITDA signs agreement with Japanese consortium to build Abuja startup hub  

June 18, 2025
Oyo State to upgrade primary health centers to 24 hours medical centers

Oyo Govt approves N63.4 billion to renovate Government House 

June 18, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics