The National Association of Nigerian Traders (NANTS) has called on the Trade Ministry to develop a synthesis that summarises all items negotiated on the African Continental Free Trade Area (AfCFTA) agreement to clarify implementation.
This was disclosed by the President of NANTS, Dr Ken Ukaoha, in a statement addressed to the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, on Tuesday in Abuja.
NANTS urged that since Nigeria agreed to ratify the deal which went into effect on the 1st of January, the FG should start a sensitisation programme for private stakeholders, citing that the trade office should also help with clarifying the implementation through a synthesis for all items.
Dr Ukaoha said,
- “For this reason, we request that you cause the Ministry, or the Nigeria Office for Trade Negotiations (NOTN), which has been responsible for AfCFTA negotiations so far, to develop a synthesis which summarises all items negotiated on AfCFTA.
- “Such articulated documentation that captures all the thematic issues should be produced and made available to all key stakeholders. It would help stakeholders to have a clear and up-to-date understanding of the subject, so that they can use same to engage in thorough and effective sensitisation of their members.”
Ukaoha added that the synthesis is reviewed in a tabular form which specifies the subject issues and Relevant Protocols of the agreement. He added that private sector stakeholders also have a job on educating members on outcomes, requirements and visions of the agreement.
NANTS urged that the synthesis should enable identification of actions and roles and also track the impact of the implementation of AfCFTA, which would enable the Ministry to be one step ahead for the amendment of the African free Trade Deal in 5 years.
- “This benefit is in addition to the improvement of stakeholder’s knowledge-base, which is very key to proper and effective implementation of the AfCFTA,” NANTS said.
What you should know
- Nairametrics reported last month that the National Association of Nigerian Traders (NANTS) urged the Nigerian Government to inaugurate a committee to look into the seizure of legitimate goods and containers by Customs during the border closure.
- The Market Traders Association of Nigeria (MATAN) praised the Nigerian Government for its role in the inauguration of the secretariat for the African Continental Free Trade Agreement (AfCFTA) in Ghana.
- 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.