{"id":38275,"date":"2021-11-22T11:53:48","date_gmt":"2021-11-22T11:53:48","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=38275"},"modified":"2021-11-22T11:53:49","modified_gmt":"2021-11-22T11:53:49","slug":"afcfta-can-lift-millions-out-of-poverty","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/afcfta-can-lift-millions-out-of-poverty\/","title":{"rendered":"AfCFTA can lift millions out of poverty"},"content":{"rendered":"<p>Mr Captain John Okakpu, Managing Director of Abx World Limited, has said African Free Trade Area (AfCFTA) has the potential to lift millions of people out of poverty and end food insecurity on the Continent.<\/p>\n\n\n\n<p>But he reported that Nigeria has not been positioned as the \u2018real\u2019 stakeholder for agro-export under this agreement.<\/p>\n\n\n\n<p>Okakpu who dropped the hint over the weekend, stressed that Nigeria\u2019s participation and gain from AfCFTA\u2019s agricultural value chain depends on the effectiveness and implementation of government policies, especially in the agricultural sector.<\/p>\n\n\n\n<p>He said that AfCFTA will form a $3.4 trillion economic bloc, which Nigeria cannot afford to be out.<\/p>\n\n\n\n<p>Available reports show that trade between African nations in agricultural products as a percentage of Africa\u2019s total agricultural trade remains below 20 per cent, one of the lowest in any region.<\/p>\n\n\n\n<p>Total trade between African nations was only 2 per cent in the period 2015\u20132017, compared with 67 per cent in trade between European countries, 61 per cent in Asian countries, and 47 per cent in the Americas, according to UN trade agency UNCTAD.<\/p>\n\n\n\n<p>\u201cNow, AfCFTA intends to change the narrative. It has created the world\u2019s largest free trade area, representing the 1.2 billion consumer market, and mandates states to remove tariffs and non-tariffs in order to boost shipments and services between nations, and boost economic growth in doing so.<\/p>\n\n\n\n<p>\u201cIf you look at the trend, Africa exports agricultural products such as tomatoes, onions, vegetables, cocoa, coffee, cotton, yam tobacco and spices to the nations of the world to earn significant foreign exchange.<\/p>\n\n\n\n<p>But the continent imports important foods such as cereals, vegetable oils, dairy products and meat in large quantities.<\/p>\n\n\n\n<p>Now, our neighbouring countries have positioned themselves to benefit from AfCFTA by building robust logistics and cost-effective export systems. So, looking at it critically, our logistics cost cemented our losses on AfCFTA unless we address it now, \u201dOkakpu said.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.thisdaylive.com\/index.php\/2021\/11\/22\/afcfta-why-nigeria-may-lose-out-in-agro-export\/\">More=ThisDay=<\/a><\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-38275\" data-postid=\"38275\" class=\"themify_builder_content themify_builder_content-38275 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>Mr Captain John Okakpu, Managing Director of Abx World Limited, has said African Free Trade Area (AfCFTA) has the potential to lift millions of people out of poverty and end food insecurity on the Continent. But he reported that Nigeria has not been positioned as the \u2018real\u2019 stakeholder for agro-export under this agreement. Okakpu who [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":29921,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[134],"tags":[247],"class_list":["post-38275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-free-trade-zone","tag-afcfta","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AfCFTA can lift millions out of poverty - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/afcfta-can-lift-millions-out-of-poverty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfCFTA can lift millions out of poverty - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Mr Captain John Okakpu, Managing Director of Abx World Limited, has said African Free Trade Area (AfCFTA) has the potential to lift millions of people out of poverty and end food insecurity on the Continent. 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