06 November 2020 by MATHEW AYOOLA
As part of efforts to ensure economic transformation of Nigeria, the Federal Government has commenced preparations for the country’s engagement in the African Continental Free Trade Area, AfCFTA, scheduled to kick off in January, 2021.
The Permanent Secretary, Ministry of Industry, Trade and Investment, Doctor Nasir Sani-Gwarzo stated this in Abuja at a two day Training on Effective Management and Competency Based Leadership in AfCFTA organized for Staff of Investment Promotion Department of the Ministry.
Doctor Sani-Gwarzo who was represented by the Director, Investment Promotion Department in the Ministry, Mrs Oluwakemi Arodudu said AfCFTA would facilitate the movement of persons and labour , competition, intellectual property and Investment among African countries.
The Permanent Secretary described Nigeria’s population as a target worldwide in the African Continental Free Trade Area hence the need for the Ministry of Industry, Trade and Investment to be part of the implementation from the beginning
According to him, to prevent Nigeria from becoming the dumping ground for goods produced from other African countries, stakeholders must effectively deliberate from the country’s engagement in AfCFTA.
In a message, the Secretary, National Action Committee on the African Continental Free Trade Area, AfCFTA, Mr Francis Anatogu said all Ministries, Agencies, Departments and stakeholders would be effectively sensitized before the take off of the AfCFTA in January next year.
He said necessary measures were being put in place to enable Nigeria maximize the benefits of the AfCFTA.
Earlier, the President , Nigeria Entrepreneurs Forum, Mr Sidney Inegbedion said African Continental Free Trade Area would comprise of one unified market of 1.5 billion consumers with combine GDP of about 300 billion dollars.
According to Mr Inegbedion, it is expected to be the largest free trade area in the world and would attract multilateral trade and Investment in a wide area of endeavours, creating a source of countless new economic opportunities be for African businesses.