Nigeria To Sign African Free Trade Agreement.
Nigeria will sign the Continental Africa Free Trade Area Agreement in March
as part of efforts to prioritise trade as a significant instrument for reform
in the country.
President Muhammad Buhari said on Saturday at the opening of the 39th Kaduna
International Trade Fair that the agreement would promote regional trade.
|Nigerian President Muhammadu Buhari|
“One of the important initiatives of our government is the Industrial Policy
and Competitiveness Advisory Council, which is a partnership of the government
with the private sector meant to solve difficult problems militating against
industrialization,” he said.
“Right now, the intra African trade is less than 15%; other regions of the
world are well over 50%, so we want to move that of intra Africa to about 30%
so as to grow”.
The President said that, “other policies being pursued will promote export
by establishing special economic growth zones where Nigeria and International
businesses would have the required infrastructure”.
He also promised to make Nigeria among the most safest and attractive
investment destinations in the world.
The President, who was represented by the Minister of Trade and Investment,
Mr Okechukwu Enelamah, said the administration “is prioritising the industrial
sector by focusing on rebuilding infrastructure.
He mentioned that the theme of the fair, ‘Promoting Commerce, Industry and
Agriculture for International Competitiveness’ was in line with the economic
recovery and growth plan of the country.
Mrs Iyalode Lawson, President, National Association of Chambers of Commerce,
Mines and Industry, said the theme underscored the riding interest in the
competitiveness of locally produced goods and services.