The Federal Government has inaugurated a Central Coordination Committee (CCC) to oversee a holistic implementation of the African Continental Free Trade Area (AfCFTA) in a manner that would foster economic growth for Nigeria and regional trade integration for the continent.
Speaking on Tuesday in Abuja while inaugurating the Committee, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole said, “We have the leadership of Manufacturers Association of Nigeria, we have NECA leadership represented here, and other key organized private sector.
“It is both a privilege and a significant moment to gather here today, united by a shared purpose, to inaugurate a Committee that will drive Nigeria’s strategic implementation of the African Continental Free Trade Area Agreement (AfCFTA).
“AfCFTA is one of the most transformative trade and economic initiatives in Africa’s history. It represents more than a trade agreement.
“It is a bold vision of integration, prosperity, and inclusive growth across our continent with a market value of 1.4 billion people, and a combined GDP of 3.4 trillion dollars.”
The Minister explained that AfCFTA offers Nigeria, and indeed the whole of Africa, an unprecedented opportunity to reposition itself in the global economy. The work ahead of us is both urgent and essential. The world is watching how Africa rises, and Nigeria must lead by example,” she stated.
Oduwole reaffirmed that this Agreement is a pivotal step towards establishing a single continental market for goods and services with goals that include facilitating investment and trade, promoting sustainable and inclusive development, advancing gender equality and structural transformation, enhancing competitiveness, and stimulating industrial development across African economies.
“To achieve these goals, the Agreement has been structured around several protocols. The first protocol, phase one, trading goods, trading services, and business development procedures.
“Phase two protocols: investment, intellectual property rights, competition policy, digital trade, and women and youth in trade. AfCFTA is an institutional structure and framework. The implementation of AfCFTA is structured around key institutions defined in part three, article nine.”
The Minister noted that the Central Coordinating Committee is designed to streamline national coordination efforts across ministries, agencies, and stakeholders to accelerate Nigeria’s implementation activities, “ensuring we can keep pace with Continental development to promote the holistic domestication of AfCFTA protocols, embedding them meaningfully into our national frameworks.
“I have no doubt that by working together through this Coordinated platform, Nigeria is better positioned to harness the full benefits of the Agreement, not just on paper, but in real, measurable outcomes for our economy and for our people. We want to harmonize our efforts so we think from the same angle and we speak with one voice,” she stated..
Speaking on behalf of the Committee, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Kelvin Oye, commended the federal government’s efforts in the implementation of AfCFTA.
He promised the committee would work as a team to deliver on its mandate.
The Committee is made up of 17 members drawn from both the private and public sectors.
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