Adedapo Adesanya
By Adedapo Adesanya
President Muhammadu Buhari has said Nigeria is targeting the African market with plans to drive exports in fishery, textile, leather, wood and papers, metals, electronics, vehicles and transport equipment.
He gave this in the context of the plans for the maritime sector regarding the African Continental Free Trade Agreement (AfCFTA).
Speaking at the ninth African Shippers’ Day on Monday, themed African Continental Free Trade Agreement: A Veritable Platform for African Shippers’ to Mainstream into Global Trade, he charged other African countries to build the requisite infrastructure so it can contribute to the continent’s growth.
He also said there was a need to actively promote productive employment and a decent workplace to explore the benefits of the agreement.
Represented by the Minister of State for Transportation, Mr Ademola Adegoroye, he noted that long-term investment in productive capacity, including infrastructure, would make AfCFTA successful.
“For AfCFTA to have a positive influence on long-term investment in productive capacities, African government must develop appropriate supporting policies, build the requisite infrastructure and ensure an educated workforce.
“We will need to actively promote productive employment and decent workplace, women’s empowerment, food security and reduction in inequalities,” the President said.
Mr Buhari added that Nigeria’s exports would also benefit by a 15 per cent boost and increase trade with other sub-regions.
“Specifically, Nigeria’s exports to the rest of Africa will increase by more than 15 per cent in fishery, textile, leather, wood and papers, metals, electronics, vehicles and transport equipment and machinery.
“Following the AfCFTA reform, Nigeria’s exports will increase significantly to other African sub-regions, outside West Africa, with most impressive expansions to countries such as Botswana, Cameroon, Egypt, Ethiopia, Kenya, Malawi, Morocco, Mozambique, Namibia, Rwanda, Tanzania, Uganda and Zimbabwe,” the Nigerian leader stated.
The President also stated that a cross-sectoral approach is needed to make AfCFTA possible to overcome the existing constraints to intra-African trade.
“That is why the Nigerian government have intensified efforts aimed at identifying new opportunities for diversification and value chain development under the AfCFTA, and complementary actions considered necessary to overcome the existing constraints to intra-African trade.
“This, we will achieve through cross-sectoral approach, considering not just trade, but also closely related areas such as agriculture, industry, macroeconomic management and infrastructure development,” said President Buhari.
