– As Nigeria targets $3.4trillion African market
Vincent Toritseju
Lagos — FIVE years after the inauguration of the Nigeria AfCFTA Coordination Office, President Bola Ahmed Tinubu yesterday launched the first shipment of Nigerian export to five African countries under the Guided Trade Initiative, GTI.
Speaking at the ceremony, President Tinubu also said that the agreement would ignite the flame of opportunity, foster economic ties and pave the way for progress and shared prosperity for our great nation, in the entire African continent.
According to the President, the AfCFTA is not just an agreement but a trade agreement that bound to build Africa’s industrialization and the prosperity for Africans.
He said: ‘Today, we embark on a journey that would ignite the flame of opportunity, foster economic ties and pave the way for progress and shared prosperity for our great nation, in the entire African continent. We gather here in Lagos, seeking that this being at the forefront of Africa’s economic and trade acceleration, is a testament to Nigeria’s enduring leadership in regional and continental integration.
‘‘From the Lagos action plan of 1980 to the Abuja treaty of 1991, the meeting has never wavered. This historical lineage is the foundation upon which the organization stands today. This is not just a trade agreement, it is a bond built for Africa’s industrialisation, and the prosperity of our people.
“We have encountered challenges and tackled them headlong in the interest of our people, as a collective survival. Commitment to this agreement is unwavering because we understand that the making of wealth is not an option, it is a necessity. It would not be easy, but we are ready to confront these challenges head on, with common determination.
“We would create an environment that supports businesses, innovations and fosters collectiveness. With our partners, we would ensure that the benefits of the organization are equally distributed and no one is left behind. Companies that are pioneering this have been known to believe in the potential of products made in Nigeria, and the immense opportunities that the organization presents.
“These businesses have made history in taking this bold step to set precedence for others to follow. Their journey is our journey. In this new age of tightened competitiveness, complacency is not an option. It is inherently competitive for requiring innovation, efficiency and a relentless drive to excel. Nigeria is ready to compete and win.
“The entrepreneurial spirit would help leverage opportunities presented by the organization. The renewed agenda strategy centres on providing opportunities for our people. Taking advantage of AfCFTA is a critical component, and strategy.
“We are committed to ensuring that every Nigerian business, small and medium size enterprises, to large corporations can benefit from thus agreement. It will continue to provide every necessary support to facilitate the effective implementation of “After”, for domestic, regional and continental values. Let us reaffirm our commitment to making ‘After a success. Let us cease this moment of opportunity, and a shared sense of purpose as we embark on this journey together. We would work tirelessly to ensure that every Nigerian benefits from this historic agreement. The journey to prosperity has just begun. The launch of the organization is taking a significant step forward. This strategy will fertilize increase, intra-African bread, economic diversification and sustainable development.
“It would open new markets for products, ensure competitiveness, and create jobs for people. Together, we can build a prosperous Africa where every nation has a fir share in its growth and development.
“An Africa where every citizen has access to opportunities to unlock his full potential. We can make this happen in our lifetime. It is our duty to make this happen.
Similarly, National Coordinator of the Nigeria’s AfCFTA Office, Mr. Olusegun Awolowo said that trade was the only and most sustainable path to prosperity.
Awolowo also said Nigeria has fully fulfilled all the requirements for accession to the Guided Trade Initiative, GTI, adding that the stakeholders stand as witnesses to the official flag-off of trade under the preferential trading arrangement with this symbolic shipment of some containers from Apapa ports.
According to Awolowo, the first set of exports from Nigeria have been consigned to Cameroon, Kenya, Algeria, Uganda and Egypt with exports like bags, ceramics textiles, cables, smart cards Clinkers Black soap, Native starch and Shea butter.
Awolowo said: “I am particularly delighted to welcome you all to this historic occasion of the Nigeria Launch and Inaugural Shipment under the AfCFTA Guided Trade Initiative (GTI). Today marks the culmination of efforts which began a little over 5 years ago with the official signing of the AfCFTA Agreement in Niamey, Niger.
“Consequently, the National Action Committee on AfCFTA was tasked with the mandate to actualize a vision for African trade where there is free movement of ‘made in Africa’ goods and services across the African continent.
‘‘Trade leverages the immense resource endowments of the continent to deepen our industrialization, create opportunities for the engagement of our teeming youthful population, facilitating more inclusive economic growth. I have always believed that the only and most sustainable path to prosperity is through trade.
Today I say Nigeria and indeed African countries must export their way out of poverty, unemployment and economic depression. Today, having fully fulfilled all the requirements for accession to the Guided Trade Initiative we stand as witnesses to the official flag-off of trade under this preferential trading arrangement with this symbolic shipment of a container from Apapa ports.
“With this official launch we transition from planning for trade under the agreement to actively enabling our businesses to trade and win. It sets the stage for a new era of trade and prosperity for our country under the African Continental Free Trade Area (AfCFTA).
“Our journey to this day, though long, has been one characterized by extensive stakeholder engagements and collaboration between the public sector and the private sector. Both sectors worked to articulate and develop the vision and framework for our national participation that will assure the success of businesses that will trade under the agreement.
“Success in our national positioning under the AfCFTA would provide a fillip to our aspirations for the industrialization and diversification of our economy, attracting the much-needed participation and investment capital to drive development on key goals under the Renewed Hope
“The initiative requires the collaborative participation of a multitude of stakeholders across several sectors and levels of engagement to ensure the goal is achieved.
“Our partnership with you is intricately linked to our successful implementation of the agreement and your active support through the various sector work streams ensured the readiness interventions and our national AfCFTA strategy adequately represented the aspirations of your membership.
To the members of the diplomatic corps, particularly the ambassadors of Cameroon, Kenya, Algeria, Uganda and Egypt where our first set of goods will be exported to, I say thank you! Your support has been crucial in us achieving this feat.
AfCFTA is the largest free trade area in the world, both by area and by the number of countries, comprising 55 countries with a population of 1.3 billion and combined GDP of about $3.4 trillion.
“In view of this we must seize this opportunity by growing Nigeria’s production and productivity, building an army of exporters to be unleashed into the AfCFTA.
“As we embark on this journey, let us remain resolute in our collective effort to make AfCFTA a success. Today’s launch is just the beginning. We are committed to building a robust framework that supports trade, fosters innovation, and drives economic prosperity across Nigeria and Africa at large. I assure you; we will harness the potential of AfCFTA to create a prosperous and integrated Africa. As I often say, Everything Africa needs for Africa is in Africa.
In his comments, the Comptroller General of the Nigeria Customs Service, Mr. Adewale Adeniyi said that the agency was fully equipped to fulfill its role as Designated Competent Authority DCA through the training of its officers in collaboration with the World Customs Organization, WCO.
He said: ‘‘We firmly believe that Nigeria’s participation in the AfCFA will open new opportunities for businesses and economic growth while reshaping intra-African relations.
