Adeniyi Adebayo, Nigeria’s Minister of Industry, Trade and Investment, revealed that the implementation of the African Continental Free Trade Area would boost Nigeria’s export potential to African countries and globally to record levels in 2 years.
The Minister disclosed this at the Sub-national Engagement of National Action Committee on the African Continental Free Trade Area (AfCFTA), which took place in Asaba on Wednesday, according to the News Agency of Nigeria.
The minister revealed that the Federal Government was working to ensure that Nigeria meets the standards set by the AfCFTA, adding that this is the era of growth through global exports.
“We will safeguard the economy through export of goods and services to other countries and we will ensure that Nigeria takes the right steps to promote its economy so that we will be able to continue to provide services to Africa and improve our ranking in trade.
Resources abound in the states, we will be working with the states and local governments and we will be visiting all the 36 states to sensitise them on the benefits of AfCFTA,” Adebayo said.
Mr Francis Anatogu, Secretary of the National Action Committee on AfCFTA, said the visit to Delta was to start a process and to sensitise the government on implementation, value-addition and to make the state take advantage of the AfCFTA.
“We are working to scan the environment to find out where gaps exist so that we can take our complaints for resolution,” Anatogu said.
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Nairametrics reported last week that the African Development Bank (AfDB) stated that it will spend the sum of $2 billion in the next 3 years to support infrastructure development which will boost the African Continental Free Trade Area (AfCFTA).
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