x

Nigeria Commits to Join Second Phase of AfCFTA’s Guided Trade Initiative

By Daniel Edu

Segun Awolowo, the Executive Secretary of the National Working Committee of the African Continental Free Trade Area (AfCFTA) for Nigeria, has confirmed the country’s readiness to participate in the second phase of the Guided Trade Initiative (GTI).

The AfCFTA’s Guided Trade Initiative is a solution-focused approach aimed at facilitating trade between interested member states. It seeks to connect businesses and products for import and export, streamlining trade processes.

Awolowo, in a statement released by the Head of Strategic Communications Directorate of the National Working Committee, highlighted Nigeria’s commitment to the AfCFTA as pivotal to boosting the nation’s economic growth. He emphasized that the alliance would broaden Nigeria’s economic goals and objectives.

The statement outlined, “We achieved a significant milestone in the first phase of the GTI. This successful pilot project has led to positive developmental changes, capacity-building initiatives, and economic growth by influencing trade between Nigeria and other AfCFTA member states.”

Awolowo also mentioned that Nigeria’s renewed administration is focused on addressing trade-related challenges, such as enhancing logistics and transportation infrastructure, simplifying customs procedures, and strengthening trade-related institutions.

He added, “The checklist received from Ghana after the completion of the first phase requires the fulfillment of certain obligations, which Nigeria has begun to actively pursue.”

In response, Mohammed Ali, Director of Trade in Goods and Competition, acknowledged Nigeria’s significance in the AfCFTA journey. He stated, “The AfCFTA is a significant journey with Nigeria, the biggest economy in Africa, as a major player.”

The Permanent Secretary of Nigeria’s Ministry of Industry, Trade, and Investment, Dr. Evelyn Ngige, represented by Suleman Audu, highlighted that the GTI will integrate Micro, Small & Medium Enterprises (MSMEs) into larger supply chains, enabling their growth and participation in bigger markets.

John Nwajumogu, Special Adviser to the President on Industry, Trade, and Investment, acknowledged the ambitious nature of the initiative while expressing confidence in overcoming the associated complexities.

Nigeria’s participation in the AfCFTA’s Guided Trade Initiative signifies the nation’s commitment to enhancing its trade relations and economic prospects within the African continent.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Insecurity: The fuss and force of self-defence

By Zainab Suleiman OkinoWhen the Director-General of the Department...

WRAPA Conducts Workshop For Women Journalists In Sokoto

By Muhammad Ibrahim, Sokoto The workshop with the theme "The...

Benue Killings: Philanthropist Ugboho Sues For Unity Among Stakeholders to End Carnage 

By Isaac Kertyo, MakurdiWorried over the renewed attacks on...

Northern CAN mourns Pope Francis, hails his global legacy of peace, humility 

*Says Late Pontiff championed values of love, tolerance, JusticeBy...

Construction Begins on Gorau Township Road in Goronyo LGA

By Muhammad Ibrahim, Sokoto "I am pleased to announce the...

APC National Chairman Ganduje Inaugurates France Chapter, Drums Supports For Tinubu  

By Jabiru Hassan. The National Chairman of the All Progressives...

ACF attributes Nigeria’s problems to monstrous corruption, nepotism, bad leadership

By Achadu Gabriel, Kaduna Arewa Consultative Forum (ACF) has expressed...

Exposed! Real Reasons Boko Haram was form, how it was formed -Rev. Dikwa 

*The revelation was contained in a letter submitted to...
spot_img

Related Articles

Popular Categories

spot_imgspot_img