• About Us
  • AKIP
  • Live TV
  • Our Programs
  • Latest News
    • Church News
    • Politics
    • Foreign News
    • Security
  • Airtime
  • From GM’s Desk
  • Church of Nigeria
  • Contact
Facebook Twitter Instagram
  • AKIP
  • From GM’s Desk
  • Live TV
Facebook Twitter Instagram
Advent Cable Network Nigeria Advent Cable Network Nigeria
  • Home
  • About Us
  • AKIP
  • Latest News
    • Church News
    • Politics
    • Security
    • Foreign News
    • Sport
  • Live TV
  • Our Programs
  • Airtime
  • Church of Nigeria
  • Contact
Donate
Advent Cable Network Nigeria Advent Cable Network Nigeria
Home»Foreign News»AFCFTA Prepares States For African Larger Market
Foreign News

AFCFTA Prepares States For African Larger Market

ACNN TVBy ACNN TVJuly 1, 2021No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp
Adeniyi Adebayo
Share
Facebook Twitter LinkedIn Pinterest Email WhatsApp

The Minister for Industry, Trade and Investment, Mr Niyi Adebayo has said that opportunities abound for states of the country to explore agricultural potentials and other products in a larger African market.

The minister however assured that Nigeria would not become a dumping ground for unidentified products from other Africa countries.

Speaking as head of the National Action Committee on the African Continental Free Trade Area Agreement (AfCFTA) to Delta state on a 2-Day tour, Mr Adebayo said Delta was the sixth so far visited to discuss the opportunities abound for made in Nigeria products.

The minister who was represented by the Director of Trade in the ministry, Mr Aliyu Abubakar told newsmen in Asaba that the mechanism for settlement and dispute resolutions were also put in place by AFCFTA to ensure peace among African countries.

He said other countries through the AFCFTA have agreed to liberalise 90 per cent of their products to the market.

“While the remaining 10 per cent is left under special and sensitive products that they may wish to keep.

“But the main objective of the agreement is to liberalise trade so that African countries can trade more among themselves and through that African economies will be integrated.

“As regarding the flooding of the market with substandard products, there are mechanisms in place in the agreement.

“The rule of origin is a criterion where participating countries must source their products locally. There is also a provision to guided against transhipment of products outside the African market.

” I will not speak for Delta but as a state, they have a major stake, products and services that are competitive and they can key into the Continental Free Trade Agreement and export them.

“That is why we are working with state government’s to identify products of comparative advantage to ensure that all the various programmes and initiatives on exports will add value to enable it to go into the African market,” Adebayo said.

Secretary of the Committee and Senior Special Assistant to the President on Public Sector Matters, Mr Francis Anatogu, said that AfCTAN came to grow the African market like the intra- European market.

According to him, the EU intra-trade is about 65 per cent while Africa is about 15 per cent.

The Chief Economic Adviser to Gov Ifeanyi Okowa, Dr Kingsley Emu who lauded the committee and the AfCFTA for getting the country to sign in, said it was an opportunity for private individuals to explore the opportunities at the larger market.

According to Emu, the trade and job creation ability of the agreement would be unprecedented in Africa.

Source: Nigerian Tribune

Adeniyi Adebayo
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp

Related Posts

Los Angeles Bishop Baptizes Daughter of Prince Harry and Meghan

March 15, 2023

Collision: Russia Asks US to Halt Flights Near Borders

March 15, 2023

US VP Harris to visit Ghana, Tanzania, Zambia

March 13, 2023
Add A Comment

Leave A Reply Cancel Reply

Recent Posts

Roman Catholic Priest Wins Benue State Gubernatorial Election

March 20, 2023

CBN Finally Obeys Supreme Court Order Over Old Naira Notes

March 13, 2023

Words of Caution on the 2023 Nigerian Presdential Election – Bishop Adebogun

March 1, 2023

Primate Ndukuba Encourage Nigerians, Congratulate All Winners, as INEC Announces Presidential Election Winner

March 1, 2023

Court Of Appeal Justice, Chancellor of Egba Anglican Diocese, Lokulo-Sodipe Slumps And Dies In Court

February 27, 2023
Advent Cable Network Nigeria

ACNNTV is the Televangelism arm of the Church of Nigeria (Anglican Communion) with focus to keep the orthodox faith alive through development of inspiring and life changing broadcast products.

Facebook Twitter Instagram
Quick Links
  • About Us
  • AKIP
  • Board of Management
  • Contact
  • Privacy Policy
Quick Links
  • Our Programs
  • Program Rates
  • From GM’s Desk
  • Live TV

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

© 2023 Anglican Cable Network Nigeria,Abuja. Designed by Dominion Web.

Type above and press Enter to search. Press Esc to cancel.