The Special Adviser on Public Communications to President Bola Tinubu, Mr Sunday Dare, says Trade and investment are key to ensuring that Africa returns to the path of economic growth.
Speaking at the official inauguration of the Oyo State Sub-national African Continental Free Trade Area (AfCFTA) Implementation Strategy on Friday in Ibadan in south-western Nigeria, Dare noted that this is an era where Africa has departed from rule-based trade and investment to a tariff regime imposed by the West.
He stated that Nigeria should leverage on trade and investment, on what it produces and also develop a value chain that would bring the revenues that is needed to build the nation.
The presidential aide said that the regional strategy approach was very much in alignment with the agenda of the Nigerian government. .
According to him, the agenda places emphasis on trade-led growth, industrialisation and building South-South partnerships that create jobs, strengthen value chains and accelerate AfCTA vision.
He maintained that trade reforms was what Nigeria believes in and that under President Bola Tinubu, trade reforms tariffs have been gazette, while implementation has a five-year mark.
“There’s a dedication to open an air cargo corridor, which will make Nigeria a competitive base for investors looking to scale regionally.
“So the vision of Nigeria connects very strongly with the vision of AfCTA.
“And we’re glad that Oyo State is taking the lead ahead of all sub-nationals,” he said.
Dare commended Gov. Seyi Makinde for taking the lead in this effort in inaugurating the sub-national strategy for Africa.
He charged all other sub-nationals and state governors in Nigeria to queue up to this initiative.
Dare recalled that President Tinubu had repeatedly said that national development was strongly anchored on the efforts and support of sub-regionals.
“That no matter how well crafted the policies and initiatives of government are, without the sub-nationals passing such policies and initiatives down to the grassroots, it will not, or they will not succeed,” he said.
In his address, Gov Seyi Makinde said that the sub-national AfCFTA implementation strategy would assist the state to identify priority sectors such as agriculture, manufacturing, creative industry to improve the revenue of the state.
Makinde, whose speech was read by his deputy, Mr Bayo Lawal, said that the initiative would attract foreign direct investments into priority sectors on a medium and long terms.
He said that it would equally provide business access to single African market of about 1.4 billion people.
In his remarks, the Secretary General of AfcFTA, Mr Wamkele Mene, said that the initiative had numerous opportunities.
Mene said the strategy would enhance the international trade, provide jobs and reduce poverty.
GIK/APA