President Tinubu Unveils-Strategic To Boost AfCFTA Trade-Proposal

President Tinubu Unveils-Strategic To Boost AfCFTA Trade-Proposal

President Bola Tinubu is set to visit Lagos on Tuesday, July 16, to unveil the Preferential Trade Initiative under the African Continental Free Trade Area (AfCFTA) Guided Trade Initiative (GTI).

The unveiling aligns with the vision of Africa’s founding fathers to unite the continent in shared prosperity and supports the administration’s renewed hope agenda.

In a statement by Senior Trade Policy and Law Expert /Lead Trade Enablement, Nigeria AfCFTA, Olusegun Olutayo, the launch, organized by the Nigeria AfCFTA coordination office on behalf of the government of the federal republic of Nigeria and the AfCFTA secretariat, will take place at Apapa Port, Lagos.

According to the national coordinator, Nigeria AfCFTA coordination office, Olusegun Awolowo, Nigeria signed the AfCFTA Agreement on 7 July 2019, becoming the 34th AfCFTA State Party.

Awolowo highlighted the country’s robust economy and its potential impact on value chains across the continent.

“Nigeria is ready to unleash an army of exporters into Africa,” he said.

He also emphasized the country’s preparedness to contribute to repositioning the continental market as a global trade hub.

The key objectives of the launch are to showcase Nigeria’s trading capabilities under the AfCFTA and demonstrate that businesses in Africa can take advantage of the GTI.

The event signifies the readiness of the AfCFTA secretariat to support private sector engagement and the implementation of the AfCFTA by member states.

The launch of Nigeria’s participation in the second phase of the GTI signals a new dawn for trading under the AfCFTA.

The statement noted that several Nigerian businesses are eager and prepared for export and shipment of indigenous products within the continent, targeting markets in Kenya, Cameroon, Uganda, Zambia, and Egypt.

The initiative aims to showcase Africa’s ability and readiness to trade under the AfCFTA framework.

Awolowo said: “Everything Africa needs for Africa is already in Africa.”

Expected dignitaries at the event include the President of the Federal Republic of Nigeria, Secretary to the Government of the Federation, secretary-general of the AfCFTA Secretariat, Minister of Trade, Industry and Investment of Nigeria, minister of finance and coordinating Minister of the Economy, other government officials, ministers responsible for trade, the diplomatic corps, international development partners, heads of businesses, and the press from across the continent.