President Muhammadu Buhari has said the African Continental Free Trade Agreement (AfCFTA) reforms will increase Nigeria’s non-oil exports to other African countries by more than 15 per cent. Buhari stated this yesterday at the ninth African Shippers’ Day with the theme: “African Continental Free Trade Agreement: A Veritable Platform for African Shippers to Mainstream Into […]
President Muhammadu Buhari has said the African Continental Free Trade Agreement reforms will increase Nigeria's non-oil exports to other African countries by more than 15 per cent.
Others are fishery, meat, poultry, milk and dairy products, rice, other cereals, plant-based fibers and other crops, fruit, vegetables, nuts, vegetable oils and other food products, beverages and tobacco as well as livestock for agriculture and food sectors. “In Nigeria, we have realised that AfCFTA would be a game changer when it comes to stimulating intra-African trade because the more ambitious the trade liberalisation, the greater the expansion of Nigerian exports to its African partners,” he said.
Buhari said Gross Domestic Product and exports would increase by $44 billion and $56 billion respectively, while AFCFTA could potentially increase jobs and move informal traders into the formal sector. “Deepening regional integration to scale up supply capacity and build regional value chains is essential to the continent’s economic transformation.
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