To enhance Nigeria’s role in the African Continental Free Trade Area (AfCFTA), the federal government has inaugurated a committee dedicated to ensuring its seamless implementation and economic impact.
Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, who presided over the inauguration in Abuja, described AfCFTA as a transformative initiative that goes beyond trade, fostering regional integration and sustainable growth.
She noted that the committee includes key stakeholders from the public and private sectors to drive Nigeria’s AfCFTA agenda effectively.
Highlighting the agreement’s significance, Oduwole stated that AfCFTA provides an unprecedented platform for Africa to reposition itself within the global economy, given its vast market and $3.4 trillion GDP.
She pointed out that Nigeria’s proactive stance on AfCFTA has earned international recognition, emphasizing that Africa’s success depends on Nigeria’s leadership in trade facilitation and policy execution.
The AfCFTA, signed in 2018 and enforced in 2019, aims to establish a single market across Africa, facilitating trade, investment, and economic development.
The agreement is being implemented in phases, with initial steps focusing on trade services and business operations, followed by broader policies addressing investment, intellectual property, and digital trade.
The minister reiterated President Tinubu’s directive for a well-coordinated approach to AfCFTA execution, urging stakeholders to remain accountable and committed to achieving measurable progress.
NEPC Director-General, Mrs. Nonye Ayeni, reaffirmed the committee’s dedication to ensuring AfCFTA’s success, while Special Adviser to the Minister, Mrs. Patience Okala, stressed that the initiative is key to job creation and economic expansion across the continent.