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Business

AfCFTA: Nigeria submits Instruments of Ratification, becoming the 34th State Party

Nigeria has submitted its Instruments of Ratification of the AfCFTA, becoming the 34th African country fully do so.

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AfCFTA: Nigeria submits Instruments of Ratification

Nigeria became the 34th African country to fully ratify and submit its Instrument of Ratification of the African Continental Free Trade Area (AfCFTA).

This was disclosed in a statement by the Ministry of Foreign Affairs on Saturday.

READ: A new MSME Academy is now available for all Africa’s Micro, Small and Medium Enterprises in Nigeria

READ: Finance Bill: No plans to increase tax ‚ÄĒ FG

The African Continental Free Trade Area (AfCFTA) is expected to open up Nigerian businesses to a market of over 1.2 billion people and a GDP of $2.5 trillion.

The Ministry of Foreign Affairs said in a statement that, “Amb. Richard Adejola, Head of the Nigerian Mission to the African Union, deposited the Instrument of Ratification of the Agreement Establishing the AfCFTA with the African Union legal depository, today, 5th December, 2020.”

READ: Ratification, border opening and stakeholders’ views, as AfCFTA is set to commence January 2021

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The instrument of ratification was received by Amb. Albert Muchanga, AU Commissioner for Trade and Industry, representing the AUC Chairperson.

Amb. Muchanga while commenting on Nigeria’s submission of its instrument of ratification said: Another great day for the AfCFTA with Nigeria becoming the 34th AfricanCFTA State Party! Very pleased to have received the instrument of ratification today from H.E. Richards Adejola, Head of Mission and Permanent Representative of Nigeria to the African Union”

READ: Afreximbank announces $3 million COVID-19 response grant for African countries

What you should know

  • Nairametrics reported last month that The Federal Government announced that it has ratified Nigeria‚Äôs membership to the African Continental Free Trade Area (AfCFTA), ahead of the December 5, 2020 deadline.
  • The agreement goes into effect from the 1st of January 2021.

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Business

Lagos State seeks investors in aquatic and livestock agriculture value chain

The Commissioner revealed that the scheme was in line with the State’s five-year strategic agriculture roadmap.

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Lagos State begins recruitment for Agripreneurship programme, Sanwo-Olu confirms Abisola Olusanya as new Agriculture commissioner

The Lagos State Government announced it is seeking private sector collaboration for Agriculture sector value chain development in livestock feed mills, fisheries and red meat.

This was disclosed by the State Commissioner for Agriculture, Ms Abisola Olusanya, in a statement on Sunday in Lagos.

The Commissioner revealed that the scheme was in line with the State’s five-year strategic agriculture roadmap, as the State identified the 3 main sectors for value chain disruption.

READ: Lagos goes tough on illegal conversion of land use, enforcement begins in Ikeja GRA, Lekki, others

She also added that investment in the sectors would also develop jobs for the industry and boost the State’s GDP growth, through Private Sector collaboration as Lagos residents consume over N5 trillion worth of food annually.

‚ÄúThe objective is to stimulate and encourage more public-private partnerships in the three value chains,‚ÄĚ she said.

“When you consider this pool of transactions happening in Lagos, it shows that we are the market. For instance, we demand over 400,000 metric tons of fish on an annual basis.

“But our fishermen and our aquaculture farmers are only able to produce just about 174,000 metric tons with deficit of 200,000 metric tons,” she added.

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READ: CBN invests over N120 billion on 320,000 farmers across CTG within four years

She also disclosed that the state has 9,000 artisanal fishermen, and bringing more youths into the space will increase the level of fish and seafood being harnessed from our water bodies. Looking at the transactional value on an annual basis, the fisheries sector is worth well over N120billion according to her.

In case you missed it: Nigeria exported agricultural products worth N321.5 billion in 2020, representing a 19.16% increase when compared to N269.8 billion recorded in 2019 and a 6.27% increase compared to N302.28 billion recorded in 2018.

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#DigitalSkillsTraining: FG announces conclusion of selection process

Only successful applicants that are contacted by the Ministry are to report at the training venue.

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President Buhari to address Nigerians on Lekki toll plaza shootings after investigation , Youth Investment Fund:  Ministry of Finance and CBN to launch provision of funds- Minister, Federal Ministry of Youth and Sports launch DEEL initiative

The Federal Government through the Ministry of Youth and Sports disclosed that the selection process for the upcoming Digital Skills Training has been concluded for the #DigitalSkillsTraining from April 11th to 30th, 2021.

This was disclosed in a statement by the Ministry of Youth and Sport on Sunday evening.

“The Federal Ministry of Youth and Sports Development wishes to inform the general public and all Nigerian Youths that the selection process has been concluded for successful applicants for the #DigitalSkillsTraining scheduled for April 11 to 30, 2021,” the statement said.

The Ministry added that only successful applicants that were contacted by the Ministry are to report at the training venue. Those who were not successful but arrive at the training would not be admitted.

Upcoming #DigitalSkillsTraining Programmes of the Ministry will be widely publicized on youthandsport.gov.ng , on : noya.ng and on the Ministry‚Äôs social media handles,” the statement added.

What you should know 

Recall that Nairametrics reported in November 2020, that the Ministry of Youths and Sports Development announced it will scale up its digital skills training to cover 500,000 youths across the country after securing funding under the COVID-19 stimulus budget.

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