World
AfCFTA Will Double Intra-Africa Trade Flows—Anatogu
By Adedapo Adesanya
The African Continental Free Trade Area (AfCFTA) will help to deepen economic integration in the continent, says the Senior Special Assistant to the President on Public Sector Matters and Secretary of the National Action Committee on AfCFTA, Mr Francis Anatogu, as part of a continued effort to drive implementation.
Mr Anatogu also said that AfCFTA’s goals will also improve and expand intra-Africa trade, enable rule-based engagement for facilitating dispute resolution and addressing injurious trade practices.
He made this known on Monday at a leadership stakeholders’ consultation on the theme ‘Defining the Trade in Service Strategy for AfCFTA’.
Mr Anatogu said the agreement will also serve as the foundation for the establishment of a continental Customs Union.
He expressed optimism that if effectively implemented, the AfCFTA will result in the elimination of tariffs on 90 per cent of tariff lines, adding that product-specific rules of origin will help to grow African content.
Mr Anatogu also stated that the pact would assist in the harmonisation of policies, regulations and standards, as well as lead to customs co-operation and mutual administrative assistance.
The AfCFTA, according to him will double intra-Africa trade flows, currently at 15 per cent as well as double Africa’s share of world trade from three per cent to six per cent over the next 10 years.
In a similar vein, Professor John Aremu said at the forum that while it is right for Nigeria to ratify the agreement, the constitution provides that such treaties entered into can only become beneficial to the nation if it has a place inside the Nigerian law to guarantee enforceability.
Mr Aremu, who is a Professor of International Economic Relations at Covenant University, urged stakeholders to facilitate the domestication of AfCFTA as enshrined in the constitution, in order to ensure utmost benefits accrues to Nigeria.
The academic who doubles as a consultant of ECOWAS Common Investment Market stated this during his presentation titled “Conceptual Issues in Africa Integration Emergence of AfCFTA, and Its Protocol”.
He said, “If AfCFTA cannot be domesticated into the national law, it cannot be deployed in defence of cases involving their violations before courts of law in the country, neither can they be used for the advocacy of rights within the country.
“Further to this, violators of AfCFTA provisions, whether they be institutions, companies or individuals cannot be held accountable, since the AfCFTA treaty has not been domesticated in the country”.
This he said can be supported by section 12(1) of the constitution of the Federal Republic of Nigeria, 1999, about Implementation of treaties which states that “no treaty between the federation and another country shall have the force of the law except to the extent to which any such treaty has been enacted into law by the National Assembly”.
He further said failure or lateness for Nigeria to domesticate AfCFTA will cause unreasonable hardship on other AU member states that intend to have commercial relationships with the country under the continental economic integration.
This he said will further discourage reading and affect the inflow of investments into Nigeria and also stunt the growth of the law in the country.
He also advocated the need for an upgrade of the overall quality of the nation’s physical infrastructure like roads, rail, port facilities, telecommunications, which are prerequisites to profitable intra-African trade
The professor also called for the use of an online information portal, single windows, digital documentation, Pan African Payment and Settlement System (PAPSS), electronic Certificates and signatures and automated processing of trade declaration which would help simplify, streamline and expedite trade-related procedures at the borders.
For Nigeria to fully benefit from AfCFTA, Professor Aremu said Nigeria must reduce the infrastructural deficit by building on ongoing efforts and also reduce other critical NBTs such as customs and other administrative requirements that directly affect the capacity of economies to trade merchandise within and outside their borders.
Other suggestions from Professor Aremu include improving trade facilitation commitments of the country as regards categories A, B, and C with WTO/TFA as a priority area for reforms while also ensuring a strong institutional and governance framework in the implementation of AfCFTA.
On commencement of AfCFTA, the Don said beyond boosting Intra-Africa trade, the larger market offered by AfCFTA is expected to trigger investment, leading to high productivity and addition to the continent’s value chain, providing more and better jobs and further enlarging the continental market.
Additionally, he said despite the high level of political momentum around AfCFTA, the ultimate success depends on African states not merely ratifying the treaty but repositioning themselves towards complying with demands in the AfCFTA.
He said while other continents have increased intra- trade among them, Africa still lags behind in trading within itself.
“Intra-Africa trade is about 12 per cent, compared to North America Free Trade Area (NAFTA) of 40 per cent and 63 per cent between economies of Western Europe and 30 per cent for ASEAN.
“There can never be any good reason why it is easier for us to trade with Asia, Europe and America, rather than with fellow Africans” Professor Aremu quoted former Ghanaian President, John Mahama as saying.
The academic said African countries can improve intra-trade among themselves by adopting trade diversion, which entails abandoning the lowest cost producer like China and importing the same product from a member of the union.
Mr Aremu also said the policy of trade creation where the country with comparative advantage is allowed to produce a particular product while others patronize it can be employed.
“By bringing down the barriers to trade between Nigeria and Egypt, the imports from Egypt will become cheaper than the ones produced by companies within Nigeria and those imported from China, since import duties remain on China, thereby creating more trade from Egypt,” he narrated.
Mr Aremu lamented over Africa’s contribution to global trade volume and blamed the lack of proper renegotiation of global agreements to integrate the continent and increase her participation in the global trade.
According to him, “Africa accounts for about 3 per cent of the global trade despite Doha Development Agenda (DDA) of the WTO, AGOA of USA and ECAs of EU; all of which have not been negotiated to enable Africa’s successful integration into the global economy despite promises”.
Speaking further on the African situation, he said: “Africa accounts for just 2.4 per cent of global GDP; has approximately 30 per cent of the earth’s remaining mineral resources; largest reserve of precious metals, over 40 per cent of gold reserves, over 60 per cent of cobalt and 90 per cent of platinum reserves, yet Africa is the world’s poorest and underdeveloped”.
By Adedapo Adesanya
Stablecoin issuer, Tether Holdings Limited, will move its corporate entity and subsidiaries to El Salvador after securing a digital asset service provider (DASP) license in the Central American nation.
According to a statement on Monday, this marks a step in Tether’s journey to foster global Bitcoin adoption banking on El Salvador’s history with cryptocurrency.
“This strengthens Tether’s position in one of the world’s most forward-thinking markets and fosters the development and implementation of cutting-edge solutions more efficiently in a dynamic environment where innovation thrives. It underscores the company’s dedication to leveraging Bitcoin’s transformative potential as it drives growth in emerging markets,” the statement said.
The company said El Salvador is rapidly establishing itself as a global hub for digital assets and technology innovation.
“By embracing blockchain technology and digital currencies, El Salvador is fostering an ecosystem that encourages innovation and attracts investment in the broader financial and technology sectors.
“This strategic positioning is helping to shape the future of financial systems, making the country a key player in the global fintech landscape,” Tether added.
Speaking on this, Mr Paolo Ardoino, CEO of Tether said, “This decision is a natural progression for Tether as it allows us to build a new home, foster collaboration, and strengthen our focus on emerging markets.
“El Salvador represents a beacon of innovation in the digital assets space. By rooting ourselves here, we are not only aligning with a country that shares our vision in terms of financial freedom, innovation, and resilience but is also reinforcing our commitment to empowering people worldwide through decentralized technologies.”
As it takes these next bold steps, the company looks forward to working closely with El Salvador’s government, businesses, and communities to shape the future of financial technology.
By Kestér Kenn Klomegâh
Perhaps it was the most crucial summit held on January 9th to 11th in 2025 with a focus to raise agricultural productivity, increase public investment in agriculture, and stimulate economic growth through agriculture-led development, and ultimately seeks pathways to support African countries eliminate continent-wide hunger and reduce growing poverty.
During these past several years, African governments have taken delight in increasing imports of basic agricultural produce which could be cultivated locally.
Import substitution policy is seemingly not part of any discussions during their ministerial meetings, instead devoted time on how to approve huge budgets for agricultural products from foreign sources.
It has also taken the African Union (AU) years to initiate an agricultural programme directed at ensuring food security and cutting poverty in the continent. This cutting-edge initiative forms an integral part of the broad AU Agenda 2063.
Considered as the most ambitious and comprehensive agricultural reform effort ever undertaken in Africa, it was first launched in 2003 following the Maputo Declaration and reaffirmed in 2014 in Equatorial Guinea with the Malabo Declaration.
It has emerged as the cornerstone framework for driving agricultural transformation across Africa and represents a fundamental shift toward development that is supposed to be fully owned and directed by various African governments.
That, however, the early January Kampala summit, attended by Ministers of Agriculture from the AU’s 55-member states, thoroughly deliberated on implementing aspects of the 10-year programme, primarily to be pursued, in different stages, by stimulating investment, fostering partnerships, and empowering vulnerable smallholder farmers. Notably, the programme is set to run from 2026- 2035.
Without a single doubt, the drafting the programme which underwent a rigorous review process, took a full decade to complete; from 2014, in Equatorial Guinea with the Malabo Declaration to Kampala, Uganda, in 2025. And that what is appropriately referred to as an effective continental organization – the African Union.
The drafting of the strategy was undertaken by a broad spectrum of stakeholders including the Regional Economic Communities, African experts and researchers, farmers’ cooperatives and organizations, development partners, parliamentarians, private sector groups, women in agriculture and youth groups.
According to the official release indicated that Africa’s food security remains a pressing challenge, exacerbated by climate change, conflicts, rapid population growth, and economic disruptions.
Currently, over 280 million Africans suffer from chronic hunger while food systems struggle to meet rising demands.
Therefore, the 10-year programme is planned to address these issues by promoting climate-resilient agriculture, improving infrastructure, reducing food waste, and enhancing regional trade in agricultural goods. This is in a bid to equip Africa to feed itself sustainably.
At the Kampala ministerial meeting, Prime Minister of the Republic of Uganda, Robinah Nabbanja, while recalling important statistics that point to the richness of African soils, abundance of arable land and fresh water, and a 60% population engaged in agriculture, expressed the highest shame that the continent’s food imports cost up to $100 billion.
“This summit should come up with concrete proposals on how Africa can come out of such an undesirable situation. For us to guarantee our future as Africans, we must feed ourselves,” she told the gathering in a tectonic language.
The Commissioner for Agriculture, Rural Development, Blue Economy and Sustainable Environment at the African Union Commission, Ambassador Josefa Sacko, commented on the importance of the strategy, saying it “aims to boost food production, expand value addition, boost intra-Africa trade, create millions of jobs for the youth and women, build inclusive agrifood value chains, and build resilient and sustainable agrifood systems that will withstand shocks and stressors now and in the future.
Furthermore, we are dedicated to strengthening governance through evidence-based decision-making and enhancing accountability among all stakeholders. Inclusivity is a fundamental aspect of our approach; we will ensure that women, youth, and marginalized groups have access to resources, thereby facilitating their equitable participation in the agrifood sector.”
Dr Girma Amente, Minister of Agriculture of the Federal Democratic Republic of Ethiopia, whose Prime Minister Dr Abiy Ahmed, is the Champion of the Comprehensive Africa Agriculture Development Programme (CAADP) Strategy and Action Plan 2026- 2035, highlighted how Ethiopia has cascaded CAADP into the national agricultural investment plan (NAIP).
“The plan emphasizes the importance of increasing public investment in agriculture, which is crucial for achieving the CAADP target. Ethiopia has significantly increased its agricultural budget allocation and has demonstrated its commitment by meeting the 6 per cent annual growth target of CAADP.
The implementation of the National Agricultural Investment Plan (NAIP) has contributed to consistent improvements in annual agricultural production, elevating both crop yields and overall food and livestock production, and also performed better in addressing the resilience targets of the CAADP,” explained Girma Amente.
In his turn, Uganda’s Minister of Agriculture, Animal Industry and Fisheries, Frank Tumwebaze, who led the drafting of the CAADP Strategy and Action Plan in his capacity as the Chair of the Specialised Technical Committee of the AU on Agriculture, Rural Development, Water and Environment, stressed the need to move into implementation of the strategy, as soon as the summit ends.
“The planning phase of the Kampala CAADP Agenda ends during this Summit. We must, therefore, move into implementation and execution mode. It is by focusing on execution that we can make a meaningful impact to the continent and its people. We must move, not with the times, but ahead of times.
“This calls for advances in technological research and practices, building agricultural systems that are resilient to climate change and other shocks, agro-industrialization, and the like,” according to Frank Tumwebaze.
The three-day Extraordinary Summit in Kampala was organized to adopt the 10-Year CAADP Strategy and Action Plan to advance agricultural transformation and food systems in Africa. But that was dominated by high-level speeches, with little hope of concretely addressing key questions relating to ensuring food security in the continent.
The majority of African countries hold steadfastly to maintain the status quo, ready to allocate large part of their annual budgets to increase imports. There was little hope for any significant results and remarkable change in driving agricultural transformation across Africa after second day of the summit, dedicated to deliberations by Ministers of Foreign Affairs, and the 11th January meeting by Heads of State and Government.
By Adedapo Adesanya
The Prime Minister of Canada, Mr Justin Trudeau, has resigned as the country’s ruling Liberal Party leader amid growing discontent in the North American country.
Mr Trudeau’s exit comes amid intensified political headwinds after his finance minister and closest political ally abruptly quit last month.
Mr Trudeau, who said he would remain in office until a new party leader is chosen, has faced growing calls from within his party to step down.
Polls show the Liberals are set to lose this year’s election to the Conservative opposition.
“As you all know, I’m a fighter,” Mr Trudeau said on Monday, but “it has become obvious to me with the internal battles that I cannot be the one to carry the Liberal standard into the next election,” he stated.
His exit comes as Canada faces tariff threats from US President-elect, Mr Donald Trump.
The Republican and his allies have repeatedly taunted Mr Trudeau in recent weeks, with Mr Trump mocking Canada as the “51st state” of the US.
Mr Trudeau also lamented that the Conservative leader, Mr Pierre Poilievre, is not the right vision for Canadians.
“Stopping the fight against climate change doesn’t make sense,” he tells reporters, adding that “attacking journalists” is “not what Canadians need in this moment”.
“We need an ambitious, optimistic view of the future, and Pierre Poilievre is not offering that.”
Mr Trudeau also said he was looking forward to the fight as progressives “stand up” for a vision for a better country “despite the tremendous pressures around the world to think smaller”.
He also clarified that he won’t be calling an election, saying the Canadian parliament has been “seized by obstruction, filibustering and a total lack of productivity” for the past several months.
“It’s time for a reset,” he said, adding that, “It’s time for the temperature to come down, for the people to have a fresh start in parliament, to be able to navigate through these complex times.”
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