Academy asks FG to address challenges of participating in AfCFTA

Registrar of the National Association of Government Approved Freight Forwarders (NAGAFF), Francis Omotosho, has urged the Federal Government to address issues militating against Nigeria’s participation in the African Continental Free Trade Agreement (AfCFTA).

 Omotosho stated this at a one-day workshop organised by the Lagos State Council of the Nigeria Union of Journalists (NUJ) recently in Lagos, with the theme: African Continental Free Trade Agreement (AfCFTA) Challenges For Nigerian Businesses.

 According to Omotosho, the AfCFTA had come to stay, but unfortunately, the country has been facing several challenges, hence the government should do the needful to enable the country to benefit maximally from the initiative.

 “Lack of commitment to eradicating existing trade barriers, inadequate trade infrastructure, inconsistency in trade agreement issues with cross border payment and other issues should be urgently addressed,” he said.

 He, however, said for Nigerian businesses to key into the framework and concept of AfCFTA and benefit equitably, Nigerians needed access to Information Communication Technology (ICT) facilities and Internet connectivity.

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 “Nigeria needs adequate training on the concept, needs access to capital, loans, access to the multimodal, reliable transportation system, adequate security and integrated single African Customs platform, among others.

  “There should be one acceptable and single African trade currency, 24-hour operations at land border posts, airports and seaports in Nigeria and others should be adopted for the country to benefit maximally from the AfCFTA,” he said.

  Omotosho noted that if well implemented, a robust participation in AfCFTA would boost economic growth, as well as improve the quality and quantity of goods available for the country.

 Speaking, Lagos State Governor, Babajide Sanwo-Olu, pointed out that the state had set up a committee that named coconut, fish and vegetables to be traded on the AfCFTA platform.

 Sanwo-Olu, who was represented by Deputy Director in the Ministry of Trade, Commerce and Cooperatives, Mrs Omolabake Bashiru, said the state was also venturing into fashion.

 “We have a fashion hub in Ikeja and we are establishing one in Yaba. We are preparing people in this sector for AfCFTA. For the Small and Medium Enterprises, there is a business clinic where they will be trained on packaging and other areas, but unfortunately, we are yet to have a policy on AfCFTA, but the process is ongoing,” she stated.

 Earlier, former President of NAGAFF and Chairman of the occasion, Eugene Nweke, pointed out that Nigeria has the largest market on the continent should position itself adequately, so as not to be at a disadvantaged position.

 “If we position ourselves properly for the AfCFTA, it will help reduce poverty, especially among women, increase trade and boost the country’s economic development,” he said.

 On his part, Chairman of Lagos Council of NUJ, Adeleye Ajayi, noted that successful implementation of the AfCFTA would demonstrate to the world that Africa was emerging as a leader in global trade.

 He said the AfCFTA has the potential of increasing employment opportunities, income and help to expand opportunities for Africans.

 “In its implementation, there should be careful monitoring of impacts on skilled and unskilled workers, women and men in all countries and sectors to ensure the full benefits of the agreement. Also, achieving the full potential of AfCFTA will depend on putting in place significant policy reforms and trade facilitation measures,” he said.