President of the Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu, has called for urgent measures to eliminate barriers impeding intra-African trade and investment.
After the end of the Nigeria-Uganda Trade and Business Forum and the official launch of Uganda Airlines’ maiden flight from Abuja to Entebbe, Obegolu highlighted the need for the African continent to facilitate smoother business transactions between African nations by reducing visa fees and eliminating other obstacles that deter intra-continental economic growth.
Obegolu emphasised that high visa fees remain one of the most significant challenges to African unity and economic integration. He said a $200 visa fee for intra-African trade was a heavy burden, stifling investment, trade, tourism, leisure, consular services, and cultural exchanges between Nigeria and other African nations, including Uganda.
“The imposition of high visa fees, such as the $200 charge, acts as a barrier to realising the full potential of trade and investment between our countries. We must work towards harmonising visa processes to make it easier for Africans to do business with one another,” he stated.
The ACCI president praised Uganda Airlines for its successful launch of direct flights between Abuja and Entebbe, which he described as a monumental step forward in promoting closer ties between Nigeria and Uganda. With the new flight connection, travel time between the two capitals has been significantly reduced to 3:30 hours, enhancing opportunities for trade, tourism, and collaboration across multiple sectors.
Obegolu reiterated the chamber’s commitment to fostering sustainable economic development through regional cooperation. He assured that the chamber would continue to push for policy reforms that support the ease of doing business, including the reduction of trade barriers, the simplification of visa processes, and the enhancement of transportation infrastructure, which are all critical to unlocking the full potential of intra-African trade.
He also called on policymakers, governments, and regional economic communities to take deliberate steps to eliminate restrictive trade policies and create more favourable conditions for African businesses to thrive. According to him, eliminating high visa fees would not only facilitate trade and investment but also help in boosting tourism and cultural exchange, which are vital components of sustainable economic growth.
The Nigeria-Uganda Trade and Business Forum, held on September 13, 2024, brought together key stakeholders from both countries to discuss ways to foster closer economic cooperation in various sectors, including trade, investment, agriculture, manufacturing, mineral exploration, tourism, and technology.
