By Chinenye Anuforo
The Federal Government has announced the commencement of Preferential Trade under the African Continental Free Trade Area (AfCFTA) Guided Trade Initiative (GTI). The launch, spearheaded by President Bola Ahmed Tinubu, signifies a significant milestone in the nation’s commitment to the AfCFTA and aligns with the administration’s vision of a more unified and prosperous Africa.
The launch ceremony, co-organized by the Nigeria AfCFTA Coordination Office and the AfCFTA Secretariat, will be held at Apapa Port, Lagos.
The launch of the Preferential Trade ceremony will take place on 16th July 2024 at Apapa Port, Lagos.
“Nigeria’s participation in the AfCFTA represents a critical step towards achieving the vision of our founding fathers – a united Africa,” stated Mr. Olusegun Awolowo, National Coordinator of the Nigeria AfCFTA Coordination Office. “Our nation’s robust and diversified economy positions us to make a substantial contribution to the success of the AfCFTA. We are fully prepared to unleash a wave of Nigerian exporters across the African continent.”
The launch ceremony aims to showcase Nigeria’s active engagement in AfCFTA trade and demonstrate the benefits of the GTI for businesses across Africa. It will further illuminate the processes for effective AfCFTA engagement and underscore the commitment of participating governments to supporting private sector participation in the initiative.
Nigeria’s involvement in the second phase of the GTI marks a new dawn for intra-African trade. Numerous Nigerian businesses stand ready to export their indigenous products to target markets like Kenya, Cameroon, Uganda, Zambia, and Egypt. This initiative serves as a powerful testament to the ability of African businesses to thrive under the AfCFTA framework.
The event will be graced by the presence of distinguished guests, including His Excellency, the President of the Federal Republic of Nigeria; the Secretary to the Government of the Federation; the Secretary-General of the AfCFTA Secretariat; relevant Nigerian ministers; representatives from diplomatic missions and international development partners; business leaders; and members of the continental press.