Nigeria’s organized private sector agri-business entreprenures are now positioning to take advantage of the African Continental Free Trade Area (AfCFTA) to expand their market reach.
Under the auspices of the Nigerian Agribusiness Group (NABG), the group has visited the AfCTA Secretariate at the Ministry of Industry, Trade and Investment to make presentations on what it requires to make Nigeria’s agri-business compete effectively across Africa, particularly, the neighbouring countries of West Africa as well as Cameroun and Niger Republic.
Further meetings are expected to be held at the secretariat soon to further develop and equip both sides with implementation guide for Nigerian agri-business.
The agri-entrepreneures are also said to be gunning for incentives to enable them gain competitive advantage against other producers in the region.
The struggle is for the continent’s market worth $659 billion, in mostly manufacture goods and agricultural products.
Nigeria’s ministry of Industry and Trade says AfCFTA is aligned to the ministry’s twin national objectives of industrialization and export based diversification.
Aissata Koffi Yameogo, ECOWAS’ Programmes Officer in charge of implementing AfCFTA rules of origin in the continent, said that the implementation will expand market for the manufacturing industry to 1.3 billion West African citizens, without additional duties and fees.
“It will build production capacity in the region and develop the value chain, and increased export to other African states” she added.
By Victor Awodi
[…] “It must establish the necessary infrastructure, create needed awareness toward exploring the African Continental Free Trade Area (AfCFTA).” […]