Key highlights
- GTI will facilitate business-to-business linkages, enabling Nigerian businesses to identify potential partners and suppliers in other African countries.
- FG says it intends to bridge the information gap, streamline processes, foster collaboration, and unlock the full potential of intra-African trade.
- Trade Minister urges Nigerian exporters to seize this opportunity to explore new markets, expand their networks, and capitalise on the diverse consumer base that Africa offers.
The Nigerian Government on Thursday inaugurated a scheme which would enable Nigerian exporters to gain more visibility, and collaboration and boost intra- African trade.
The scheme was inaugurated by the Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo in Abuja.
Adebayo also noted that Guided Trade Initiative is an integral part of the African Continental Free Trade Agreement (AfCFTA).
GTI
Trade Minister, Adeniyi Adebayo stressed that the launch of the Guided Trade Initiative (GTI ) would provide an enabling environment that would guarantee the unlocking of intra-African trade potential.
Inaugurating the onboarding process for businesses and exporters via the Guided Trade Initiative (GTI), he said it would act as a compass, guiding businesses through the intricate landscape of trade, enabling them to navigate the challenges and seize the opportunities that lie ahead, adding:
- “Through GTI, we intend to bridge the information gap, streamline processes, foster collaboration, and unlock the full potential of intra-African trade.”
AfCFTA
Adebayo further revealed that the Guided Trade Initiative is an integral part of the African Continental Free Trade Agreement (AfCFTA), with the aim of facilitating and enhancing trade activities, by providing businesses and exporters with the necessary tools, knowledge and support, as the statement added that:
- “ Value addition and industrialisation, skills development and capacity building and trade facilitation and logistics are key areas of focus that would guide businesses under AfCFTA.
- “AfCFTA presents an extraordinary opportunity to harness our collective strengths, leverage our abundant resources and create an integrated market that will drive sustainable economic development for our continent.
Why Businesses should join
Adebayo commended businesses and exporters joining the GTI for their foresight and determination, adding that by embracing this initiative, Nigerian businesses demonstrate their commitment to growth and their willingness to adapt to a new era of trade.
- “I encourage you to seize this opportunity to explore new markets, expand your networks, and capitalise on the diverse consumer base that Africa offers.
- “We recognise that the road to success is not without challenges.
- “I assure you that the government remains steadfast in its commitment to providing an enabling environment for businesses to thrive.
- “We will continue to implement policies that foster ease of doing business, improve infrastructure, enhance trade facilitation mechanisms, and promote innovation and technology adoption’’.
He urged the private sector and businesses to engage with government entities, industry associations and fellow entrepreneurs to share best practices, address bottlenecks and collectively overcome hurdles that impede trade, noting that AfCFTA represents a step towards breaking barriers and building bridges, fostering social integration and nurturing a sense of African pride.
- “As we embark on this momentous journey together, let us remain committed to the principles that underpin the AfCFTA—fairness, inclusivity, sustainability and shared benefits.
- “Let us embrace the spirit of collaboration, innovation and entrepreneurship that will drive our economic transformation and elevate Africa to new heights,’’ the minister said.
Facilitation
The Executive Secretary of National Action Committee on AfCFTA, Mr Olusegun Awolowo, stated that through GTI, Nigeria will revolutionise the way we trade, shifting from traditional methods to more efficient and technology-driven processes.
- “By embracing digitization, automation and best-in-class trade facilitation practices, we will position Nigeria at the forefront of the global trade landscape.
- “Further, the GTI will provide a platform for Nigerian businesses to network and collaborate with other businesses in the African market.
- “The GTI will facilitate business-to-business linkages, enabling Nigerian businesses to identify potential partners and suppliers in other African countries.
- “This will foster innovation and knowledge transfer, leading to the development of new products and services and the expansion of existing markets.”