Nation
AfCFTA: Nigeria Won’t Be Dumping Ground For Unidentified Products, FG Warns
The Minister for Industry, Trade and Investment, Mr Niyi Adebayo, has assured that Nigeria would not be a dumping ground of unidentified products from other African countries when the African Continental Free Trade Agreement (AfCFTA) is activated.
Adebayo, who led the National Action Committee (NAC) on AfCFTA on a two-day tour of Delta State, gave the assurance in Asaba, the state capital, at a press briefing.
The visit to Delta, which is the sixth state so far visited, was to discuss opportunities abound for made-in-Nigeria products in the larger African market.
According to Adebayo, who was represented by the Director of Trade in the Ministry, Aliyu Abubakar, AfCFTA has provided a platform to ensure that every product has an identifiable place of origin.
He explained that other countries through AfCFTA agreed to liberalise 90 per cent of their products to the market.
“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 regards 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 guide against transhipment of products outside the African market,” he said.
He urged Delta State to key into the AfCFTA to showcase its potentials in oil palm, aquaculture and other products in a larger African market.
The Chief Economic Adviser to Governor Ifeanyi Okowa, Dr Kingsley Emu, said the AfCFTA offered an avenue for private individuals to explore opportunities at the larger market.
According to Emu, the demand push or pull, particularly when there is an off-taker agreement, is a game-changer for the private sector.
He said the trade and job creation ability of the agreement would be unprecedented in Africa.
Nation
REAN, SON synergise to curb fake renewable energy product
Nation
Self Help Africa programme expands water access for 320,000 Nigerians
Nation
Lagos Residents Stranded As Floods Cut Off Ajah, Mafoluku Communities
-
Rivers3 days ago
Rivers Police Uncovers Firearm Concealed In Loaf Of Bread
-
Niger Delta3 days agoPro-Chancellor Hands Over Okey Onuchuku Peace, Conflict Institute Building
-
Sports3 days ago
Six Nigerians To Play For NBA Teams
-
Business3 days agoIPMAN Raises Concern Over Delay In Chinese Refinery Deal …Predicts Lower Fuel Prices Through Competition
-
News3 days agoFubara Reaffirms Commitment To Blue Economy, Private Sector Growth …Calls For Protection Of Marine Resources
-
Business3 days ago
Gas Economy: Decade of Gas, Pi-CNG/ EV Deepen Media Engagement
-
Politics3 days agoSenate Defends Passage Of State Police Bill
-
Sports3 days ago
NPFL Warns Newly Promoted Clubs
