The Nigerian Government recorded a significant milestone in its commitment to the African Continental Free Trade Area (AfCFTA) on Tuesday with the launch of the Guided Trade Initiative (GTI) by President Bola Ahmed Tinubu.
The ceremony, which held at the Lagos Port Complex Apapa, saw the first shipment of Nigerian exports destined for five African countries.
Represented by the Secretary to the Federal Government, Senator George Akume, President Tinubu emphasised the importance of AfCFTA in building Africa’s industrialisation and prosperity.
“Today, (Tuesday) we embark on a journey that will ignite the flame of opportunity, foster economic ties, and pave the way for progress and shared prosperity for our great nation and the entire African continent,” he said.
The National Coordinator of Nigeria’s AfCFTA Office, Mr. Olusegun Awolowo, reiterated that trade is the only sustainable path to prosperity.
He confirmed that Nigeria has fulfilled all requirements for the Guided Trade Initiative and symbolically flagged off trade under the preferential trading arrangement with the shipment of containers from the Nigeria’s Apapa Ports.
The initial exports, bound for Cameroon, Kenya, Algeria, Uganda, and Egypt, include various products such as bags, ceramics, textiles, cables, smart cards, clinkers, black soap, native starch and shea butter.
Local media reports on Wednesday quoted Mr. Awolowo as saying that the launch marks a transition from planning to actively enabling businesses to trade and succeed under AfCFTA, thus signalling a new era of trade and prosperity for Nigeria.
According to him, the journey to this milestone involved extensive stakeholder engagements and collaboration between the public and private sectors to develop a vision and framework for Nigeria’s participation in AfCFTA, ensuring the success of businesses trading under the agreement.
GIK/APA
Nigeria launches GTI to unlock Intra-African Trade Potential under AfCFTA
