“Though it will take time, it may take even more than ten years to be able to get to the point where we say we really have mitigated that particular risk.” AfCFTA Nigeria
To identify the value chains for African countries to benefit from the agreement, the secretariat said what it required was an action plan for the implementation of an industrial development strategy that would be applied on the African continent.
He disclosed that the secretariat has to find ways of ensuring that the agreement benefits countries like Kenya, Morocco, Egypt, South Africa, and equally as much as it benefits smaller countries that don’t have the industrial base and manufacturing capacity. However, he noted that the secretariat is working with relevant customs authorities to mitigate the risk of fraudulent invoicing and transhipment.
According to him, “It is another form of crime, you will never be able to eliminate fraud or entry for third party goods into the AfCFTA market just like you will never be able to eliminate crime.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ITF reviews vision, commits to developing agricultural value chain - Daily Post NigeriaThe Industrial Training Fund (ITF) says it has concluded arrangements to commence the implementation of the second phase of its mandate actualization
Read more »
'How livestock industry can hit N50 trillion in 10 years'The Nigeria Institute of Animal Science has said the country’s livestock industry value could rise to at least N50 trillion over the next decade, if it maintains its current 12.7 per cent annual growth rate.
Read more »
German virus hunters track down corona outbreaksA team of medical students pressed into service by Cologne’s public health office are scrambling to cut off potential new chains of coronavirus infections by endlessly repeating the same ques…
Read more »
Borno govt to establish four community radio stationsThe Borno State Government in collaboration with an NGO, North East Regional Initiative (NERI), is to establish four community radio stations in the state.
Read more »
Allowance Increment: Graduates falsifying age to qualify for NYSC - Director-GeneralThe National Youth Service Corps (NYSC) says graduates are falsifying their age to qualify for service under the scheme and benefit from the increment
Read more »
Global FDI projected to plunge 40% below $1 trillion in 2020Global foreign direct investment (FDI) flows are projected to decrease by up to 40 per cent in 2020, from their 2019 value of $1.54 trillion
Read more »