Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, says that the AfCFTA Bill will position Nigeria to fully harness opportunities of the continental trade while safeguarding national interest.
Speaking at a public hearing on AfCFTA Bill in Abuja, Dr Oduwole said that the Bill would promote transparency and predictability for investors and businesses, strengthen Nigeria’s capacity to meet its obligations, while effectively enforcing its rights under the agreement
“It is clear that the AfCFTA Domestication Bill before us is both timely and necessary. The Bill is not merely about implementing an international treaty.
“It is about positioning Nigeria to fully harness the opportunities of continental trade while safeguarding our national interests,” she said.
The minister reiterated that the Bill would provide the legal basis for coordinated implementation across government institutions.
According to her, this legislation aligns with the Renewed Hope Agenda of President Bola Tinubu, by promoting economic diversification, industrial growth, export expansion, investment promotion and job creation.
She explained that the Bill is an important step toward building a more competitive and resilient Nigerian economy.
Oduwole, who reaffirmed the ministry’s commitment to working closely with the National Assembly throughout this legislative process, said that it would provide the necessary support needed for an effective framework.
Earlier, the Speaker of House Representatives, Rep. Abbas Tajudeen, said that the public hearing exemplified the enduring commitment of the House of Representatives to inclusive, transparent and participatory lawmaking.
Tajudeen, who was represented by the Deputy Chief Whip, Rep. Isiaka Ibrahim, expressed strong belief that better legislation not only depends on the wisdom of legislators alone, but the practical experience, expertise and perspectives of the people.
According to him, public hearings, therefore, remain one of the most valuable instruments through which we deepen democracy and ensure that our laws truly reflect the needs and aspirations of Nigerians.
Tajudeen, who, described commerce as one of the strongest pillars of the national economy, said it drives investment, stimulates production, expands markets, creates jobs, encourages innovation and strengthens consumer confidence.
“As Nigeria pursues economic diversification and greater competitiveness, we must ensure that our commercial laws are responsive to emerging realities, technological advancement and international best practices.
“The purpose of today’s hearing, therefore, is to subject these Bills to rigorous public scrutiny, receive constructive inputs from stakeholders, identify areas that require refinement and ensure that the legislation promotes enterprise,” he said.
GIK/APA