'AfCFTA will boost export by 15 per cent'

• Published date: 17 January 2023
• Publication title: Nigeria - The Nation

President Muhammadu Buhari yesterday said the implementation of the Africa Continental Free Trade Agreement (AfCFTA) will lead to a rise in Nigeria's export to other African countries by 15 per cent.

He disclosed this at the ongoing 9th edition of the Union of African Shippers' Council (UASC), meeting tagged, 'African Continental Free Trade Agreement: A veritable platform for African Shippers to mainstream into global trade', held in Lagos.

Represented by the Minister of State for Transportation, Prince Ademola Adegoroye, the president said for AfCFTA to have a positive influence on long term investment in productive capacities, the African government must develop appropriate supporting policies, build requisite infrastructure and ensure an educated workforce.

Buhari said: 'Specifically, Nigeria's exports to the rest of Africa would increase by more than 15per cent in fishery, textile, wearing apparel, leather, wood and papers, metals, electronics, vehicles and transport equipment and machinery (for industrial sectors) and in meat and poultry, milk and dairy products.

'Others are, rice, other cereals, plant-based fibers and other crops, fruit, vegetables, nuts, vegetable oils, other food products, beverages and tobacco as well as livestock (for agriculture and food sectors).

'Following the AfCFTA reform, Nigeria's exports would 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. Also, due to her sheer economic size, Nigeria, among African nations, is expected to experience the largest absolute expansion in intra - African exports.'

The president however, advised African countries on the need to make AfCFTA a reality by creating...