As part of its commitment to a successful implementation of the African Continental Free Trade (AfCFTA) Agreement, the federal government said, efforts are ongoing to establish a trade remedies authority to enforce Rules of origin and tighten borders against fraudulent invoicing.
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, made the disclosure in Lagos State Government House while paying a call on Governor Babajide Sanwo-Olu as part of the nationwide sensitisation visit to Lagos by the National Action Committee on the AfCFTA.
Adebayo said the National Action Committee on the AfCFTA, which he chairs, is collaborating with the National Trade Facilitation Committee domiciled in the Federal Ministry of Industry, Trade and Investment to facilitate the execution of the regional trade facilitation roadmap.
The Minister highlighted the AfCFTA implementation plans to include domestication of the AfCFTA Agreement, border enforcement and Rules of origin enforcement, trade facilitation and ease of doing business, production and service capacity growth, power and trade logistics infrastructure, market access, skills and human capacity development, and quality infrastructure.
Responding, Governor Sanwo-Olu, announced the State Government’s willingness to domesticate the policies of the AfCFTA to accelerate the actualisation of the recently launched Lagos 30 years development plan.
According to Sanwo-Olu, Lagos state will explore all the opportunities inherent in the AfCFTA Agreement to grow its revenue and GDP base and create employment for youth.
Speaking at a press conference with the journalists shortly after the meeting with the governor, the Secretary of the National Action Committee, Francis Anatogu said: “Our strategy is to work with the states based on their areas of comparative advantages and Lagos State has been identified to have trade strength in ICT, telecommunication, transportation and financial services.”
Speaking, the Executive Secretary, African Shipowners Association, Funmi Folorunso, stressed the need for the Federal Government to focus energy on making Nigeria the transportation hub for Africa, adding that countries like Ghana have cut their trade niche under the AfCFTA.
Other key speakers at the press conference include Director of Trade, Federal Ministry of Industry, Trade and Investment, Aliyu Abubakar, Special Adviser to Lagos State Governor on SDG and Investment, Mrs.Solape Hammond and Director-General of NACCIMA, Ambassador Ayoola Olukanni.
– The Nation