Shippers Council Urges Immediate Implementation Of AFCFTA

The Nigerian Shippers Council has said that the recently signed African Continental Free Trade (AFCFTA) would increase intra-African trade by as much as $35 billion per year or 52 percent above the baseline by 2022, if well implemented.
The Executive Secretary and Chief Executive Officer of the council, Barr. Hassan Bello, said this at a conference on maximizing benefits of Intra-African Trade under AFCFTA Regime in Lagos, recently.
Bellow was represented at the event by Operations Officer, Consumer Affairs of the council, James Chabulatuda.
The Tide recalls that the agreement, was adopted in March, 2018 following the deposit of the required 22 ratifications, and came into effect on 30th May, 2019.
Nigeira and Benin signed the agreement during the July, 2019 summit in Miamey, Niger. As at 25th September, 2019, all countries except Eritrea have not signed the agreement.
Bellow added that the Agreement would make imports from outside the continent decreased by $10 billion per year, while agricultural and industrial exports would increase by $4 billion and $21 billion above the baseline.
He noted that the AFCFTA would boost small and medium sized enterprises by 80 percent.
Earlier, the convener of the conference, Mr. Ismail Aniemu, expressed disappointment over the refusal of stakeholders in the maritime sector to highlight the importance of the AFCTA Agreement to business in Nigeria and Africa.
He dismissed the fear that Nigeria will be turned into a dumping ground by smaller countries, because of the agreement, saying such fear has no place.
He said that the conference was initiated to sensitise people especially maritime stakeholders on the importance of the AFCTA agreement.

Nkpemenyie Mcdominic, Lagos