Nigeria Set to Export Locally Produced Goods Under AfCFTA in April

Nigeria is preparing to commence formal exportation of locally produced commodities to South Africa, Rwanda, Cameroon, and Kenya next month under the African Continental Free Trade Area (AfCFTA) Guided Trade initiative.

Olusegun Awolowo, the executive secretary of the National Action Committee on AfCFTA, made the announcement at the Abuja Stakeholders Workshop on the AfCFTA Digital Trade Protocol.

Despite trading under the main AfCFTA framework not yet in effect, Nigeria will begin official and formal exports under the Guided Trade Initiative in April, strengthening economic ties with African nations and capitalizing on the benefits of the AfCFTA treaty.

The AfCFTA Guided Trade Initiative, introduced by the AfCFTA secretariat, aims to facilitate trade among African countries outside their regional blocks.

Nigeria has joined the initiative, and selected companies will start exporting goods to the four aforementioned countries.

Awolowo underscored the importance of adhering to the necessary protocols and agreements before starting trading under AfCFTA.

He emphasized that the Guided Trade Initiative is a vital step towards realizing the full potential of the AfCFTA agreement.

In addition to Nigeria, other countries participating in the Guided Trade Initiative include South Africa, Kenya, Cameroon, and Rwanda.

This initiative seeks to expedite trade activities while testing the capacities of ports, shipments, and cargo handling.

Established in 2018 and becoming effective in 2019, AfCFTA aims to boost intra-African trade, foster economic development, and create a more competitive African market.

Despite challenges such as trade facilitation measures and infrastructure gaps, experts believe AfCFTA has the potential to transform Africa’s economic landscape.

Senior Special Assistant to the President on Legal, Research, and Compliance Matters, Bashir Maidugu, stressed the importance of government support to empower Nigerian youth in digital trade.

With the commencement of formal exports under the AfCFTA Guided Trade initiative, Nigeria is taking a significant step forward in its economic development and strengthening its ties with fellow African nations.