The Executive Director Nigerian Export Promotion Council (NEPC) Dr. Ezra Yakusak, has empahasised the need to fast-track the implementation to achieve the laudable objectives of AfCFTA for Nigerians and Africans.
This is just as the NEPC Executive Director disclosed the readiness of the country to join the Guided Trade Initiative (GTI) describing it as a solution-oriented approach that aims to facilitate trade between interested state parties by connecting businesses and products for export and import.
According to Yakusak, who was represented by the Deputy Director, NEPC and the State Head of NEPC, Architect Benedict Ndudi Itegbe, stated that enhancing trade between African countries will facilitate a structured approach to inter-African trade by addressing key challenges and trade barriers.
He said the council has started reaching out to stakeholders and seeking synergies with all stakeholders to move forward to deliver on an accelerated AfCFTA Implementation.
He said “The GTI will provide a platform for Nigerian businesses to network and collaborate with other businesses in the African market. The GTI will facilitate business-to-business linkages, enabling Nigerian businesses to identify potential partners and suppliers in other African countries.
“This will foster innovation and knowledge transfer, leading to the development of new products and services, and the expansion of existing markets.
“The benefits of joining the GTI are clear, and I urge all Nigerian businesses and exporters to take advantage of this historic opportunity. We must all be inspired by the profound wells of passion and nationalism.
“Nigeria’s participation in the GTI is a testament to our commitment to the success of the AfCFTA and our determination to play a leading role in the economic integration of Africa.
“The NEPC as the apex organization for the development and promotion of non-oil export is strategically positioned to assist in providing the right platform for Nigerian companies to gain access in major markets, especially in Africa in line with the objectives of AfCFTA.”
He, however, reiterated the Council’s readiness to deepen its engagements with Stakeholders and key into ideas and initiatives aimed at developing the non-oil export sector and diversifying our economy.
Speaking to the Deputy Director of Nigeria Policy and Strategy Department Nigeria Export Promotion Council, Ben Anani, said with the trade opportunities offered by AfCFTA, it is extremely important for SMEs to have a better understanding of market entry criteria in the regional markets.
He noted that key market access conditions like tariffs, non-tariff barriers and utilisation of preferences have increasingly been affected by bilateral trade agreements in most developing nations in the last ten years, saying Nigeria is no exemption.
He said the NEPC would continue to work to foster a private sector-driven economy through market-oriented export product development
The State Director Micro-, Small and Medium-sized Enterprises (MSMEs) Prince Tony Ikuomola, who hailed the NEPC initiative said the programme will go a long way to create awareness of small business entrepreneurs and to expose them to opportunities abound in the African continent in terms of exporting their products.
Ikuomola identified lack of financial support to export their product as one of the challenges confronting the exporters but said “the agency has put lots of things in place, and this government in particular has a lot for Small enterprises.
“We are putting a lot of things in place to guide against all these financial crisis which will soon be a thing of the past. We are coming up with a single-digit interest loan, we have partnerships with many banks, Sterling, IBTC and First bank.
“We are working on such facilities, it is a new idea that would start this year and we are looking towards setting up offices in the three Senatorial districts”
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