Effective transport system to help Nigeria attain $100bn export by 2030 ― Stakeholders

Stakeholders in the Nigerian transportation sector have agreed that efficient transportation system is a key element that would guarantee the attainment of the dream of generating $100 billion by 2030 through African Continental Free Trade Area (ACFTA).

They also agreed that growing the capacity of the transportation sector can potentially boost the economy by nearly $5bn per annum.

At the ongoing workshop on ‘Nigeria – the Transportation Hub for Africa as part of the AfCFTA Nigeria Strategy Workshop Series II’ organised by the National Action Committee on the AfCFTA Minister of State, Federal Ministry of Trade and Investment, Ambassador Mariam Katagum, said: “for a country well-endowed in agricultural and natural resources, and efficient inter-modal transport infrastructure is a critical success requirement, as the ability of our companies to attract international business depends on time and cost to deliver goods during transit.”

Katakum, who observed that Nigeria must maximise the opportunities in the AfCFTA market for economic growth and job creation, added: “we must promote local content across every segment of the logistics value chain.

“Some obvious opportunities include patronising our locally manufactured automobiles and parts, increasing fleet ownership especially in the maritime space and growing our local share of logistics and transit-related services.”

In his presentation, Director Trade at Federal Ministry of Industry Trade and Investment, Aliyu Abubakar observed that to maximise her share of benefits in the AfCFTA, Nigeria would leverage existing capacities across agriculture, industry and services, sustain the drive to improve competitiveness and drive export expansion and diversification with a vision to grow the value of Nigeria’s export to US$100bn per annum by 2030.

ALSO READ: Gombe lawmakers impeach speaker, swear-in Luggerewo, other leaders

On the economic potential of the transportation sector, Ms Funmi Folorunsho, the Private Sector AfCFTA Champion for Transportation and Secretary-General, African Ship-owners Association, said: “Growing the capacity of the transportation sector can potentially boost Nigeria’s economy by nearly $5bn per annum.”

Minister of Aviation, Hadi Sirika, said beyond preparations for the start of trade under AfCFTA in January 2021.

“Nigeria is investing massively in the Aviation sector in order to increase connectivity, facilitate trade and establish Nigeria as the aviation hub on the continent.”

He added that the target is to raise the aviation sector’s contribution to GDP to 5 per cent by 2023.

On the Federal Government’s efforts at improving the road infrastructure, Babatunde Raji Fashola, Minister of Works and Housing, represented by Director, Highway Planning, Engr. Uzo, said: “roads connecting Nigeria to the rest of the continent are currently being worked on as Nigeria seeks to increase our interconnectivity across Africa.”

NIGERIAN TRIBUNE