18th July 2024
By Anozie Egole
The Federal Government has stated that it will ensure that Nigerian businesses maximise the benefits of the African Continental Free Trade Area.
President Bola Tinubu disclosed this on Tuesday while speaking at the launching ceremony of the Guided Trade Initiative under the African Continental Free Trade Area in Lagos.
According to Tinubu, who was represented at the event by the Secretary to the Government of the Federation, Senator George Akume, AfCFTA has the potential to transform the continent’s economic landscape.
The President stated that AfCFTA was not just a trade agreement but a bold vision for Africa’s industrialisation, equitable growth, and the prosperity of the people.
“It requires us to embrace the challenges ahead with enthusiasm and readiness to tackle them headlong in the interest of our stakeholders and collective survival.
“Our commitment to this agreement is underscored by our recognition of the fact that making AfCFTA work is not an option, but a compelling necessity,” he said.
The President noted that the successful implementation of AfCFTA would come with its challenges and Nigeria must confront those challenges with uncommon determination.
According to Tinubu, the strategy to be deployed will include the creation of an enabling environment that supports businesses, encourages innovation, and fosters competitiveness.
He added that there would also be close collaboration with continental partners in a manner that would ensure that the benefits of AfCFTA were equitably distributed and that no one was left behind.
“The companies that are pioneering this initiative today have demonstrated their belief in the potential of made-in-Nigeria products and the immense opportunities that AfCFTA presents.
“These trailblazing businesses have made history by taking this bold step, and they set a precedent for others to follow. Their success is our success, and their journey is our journey,” he expounded.
The President stated that trade has inherently become highly competitive and that the country cannot become complacent.
He remarked that the country must be prepared to be innovative, and efficient and must relentlessly strive to excel.
“Nigeria’s competitive edge is underscored by several factors, including strategic location, robust economic fundamentals, and a dynamic entrepreneurial spirit. We must therefore leverage the opportunities presented by AfCFTA.
further read @punchng
https://punchng.com/fg-to-maximise-benefits-of-afcfta/#google_vignette
