The Market Traders Association of Nigeria (MATAN) has praised the Nigerian Government’s role in the inauguration of the secretariat for the African Continental Free Trade Agreement (AfCFTA) in Ghana.
This was disclosed by the President of MATAN, Alhaji Jamilu Abbas, in a statement in Abuja, on Sunday.
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He said:
- “The leading role played by Nigeria in ensuring the smooth take-off of the AfCFTA was impressive and commendable.”
He added that Nigeria had a leading role to play in the implementation of the AfCFTA, as many countries in Africa looked up to Nigeria leading the pact due to its size as the most populous and largest economy in Africa.
MATAN advised Nigerian manufacturers and SMEs to take advantage of the agreement to boost Nigeria’s trade leverage in the continent, and also urged for harmonization of laws to prevent trade dispute with members of the agreement.
READ: AfCFTA to boost Africa’s economy to $29 trillion by 2050 – FDC Report
What you should know
- Nairametrics reported in December 2020 that Nigeria became the 34th African country to fully ratify and submit its Instrument of Ratification of the African Continental Free Trade Area (AfCFTA).
- Mr. Bismarck Rewane, Chief Executive of Financial Derivatives Company Limited said the African Continental Free Trade Area would create the desired impetus to stimulate the economic growth of Nigeria in 2021.
- Wamkele Mene, Secretary-General of the AfCFTA Secretariat, revealed that the full implementation of the African Continental Free Trade Area (AfCFTA) would be a long journey as Africa needs the right equipment for customs authorities at the border to facilitate the fast and efficient trade, which goes into effect on January 1.
READ: Customs revenue rises by N200 billion to hit N1.5 trillion in 2020