By Charles Nwaoguji
Federal government has said it will ratify the African Continental Free Trade Agreement (AFCFTA) to boost Nigeria economy.
The minister of Trade, Industry and Investment, Mr. Adeniyi Adebayosaid government decision to ratify AFCFTA would strengthen Nigeria’s position at during negotiations in the outstanding areas such as Services and investment.
Adebayo, said who spoke to Journalists recently, said that with this decision to ratify the Agreement, Nigerian companies must be ready and be prepared to be a part of the AFCFTA.
“Notably this ratification now gives us the status of a State Party to the Agreement which also gives us a leverage to be an effective player in the scheme of things,” he added.
Also, speaking the Director General of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Ambassador Ayo Olukanni said that this is good news and a reflection of our commitment to be part of this historic Trade and economic Agreement fully.
Olukanni noted that on their part in NACCIMA as part of strategic planning and readiness we have been closely working with various stakeholders such as Afriexem bank the UNECA, regarding operational issues areas such as effectiveness of the Pan African Payment and Settlement system.
He said, “The NACCIMA Dialogue Series on the AFCFTA which we have been running for sometime will continue to be actively pursued and we will do so through the new normal virtual means.”
“This is to prepare our members for an understanding of the fine details of the Agreement to ensure that they can be able to fully harness it’s benefits as trading takes off.
We are indeed committed to the goal of ensuring that Nigerian companies become an effective player in the AFCFTA and we are ready to work with all stakeholders including the National Action Committee on AFCTA as well,” he stated.