Nigeria: Authorities’ commitment to the African Continental Free Trade Area (AfCFTA)
The Nigerian government has taken a significant step in its commitment to the African Continental Free Trade Area (AfCFTA) with the launch of the Guided Trade Initiative (GTI). The ceremony, held last Tuesday at the Lagos Port Complex Apapa, witnessed the first shipment of Nigerian exports to five African countries.
Represented by the Secretary to the Federal Government, Senator George Akume, President Tinubu emphasized the importance of the AfCFTA for Africa’s industrialization and prosperity.
“Today, we embark on a journey that will ignite the flame of opportunities, foster economic ties, and pave the way for progress and shared prosperity for our great nation and the entire African continent”, he stated.
The National Coordinator of the Nigerian AfCFTA Office, Mr. Olusegun Awolowo, reiterated that trade is the only sustainable path to prosperity. He confirmed that Nigeria has met all the requirements for the Guided Trade Initiative and symbolically kicked off trade under the preferential trade agreement with the shipment of containers from Nigeria’s Apapa ports.
The initial exports, destined for Cameroon, Kenya, Algeria, Uganda, and Egypt, include a variety of products such as bags, ceramics, textiles, cables, smart cards, clinkers, black soap, native starch, and shea butter.
Local media quoted Mr. Awolowo on Wednesday, who stated that the launch marks the transition from planning to the active establishment of businesses capable of trading and succeeding under the AfCFTA, heralding a new era of trade and prosperity for Nigeria.
According to him, the journey to this milestone involved numerous stakeholder engagements and collaboration between the public and private sectors to develop a vision and framework for Nigeria’s participation in the AfCFTA, ensuring the success of businesses trading under the agreement.
