Ratify AfCFTA Agreement For Economic Integration, NACCIMA Urges FG

The president of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Otunba Dele Oye, has charged the federal government on speedy ratification of the African Continental Free Trade Area (AfCFTA) agreement to facilitate intra-African trade and boost economic integration.

Oye, who also urged Nigerian businesses to embrace opportunities presented by the AfCFTA, said the agreement presents an unprecedented opportunity for African businesses to expand into new markets, bring new products and services, and create more jobs and wealth for the people.

Oye spoke at the second phase of AfCFTA Secretariat Mission in Nigeria, in conjunction with the National Action Committee(NAC) on the African Continental Free Trade Agreement, NACCIMA and the business community in Nigeria.

According to NACCIMA boss, “it gives me great pleasure to reflect on our early endorsement of the AfCFTA and our unwavering commitment to its success, even as NACCIMA has actively supported preparations for the implementation of the AfCFTA in Nigeria.

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Disclosing that NACCIMA has successfully organised the AfCFTA lecture series in collaboration with Deloitte; an initiative that has been instrumental in sensitising members on the potential benefits of the agreement, he added that, through these series of lectures, the group has provided valuable insights into opportunities and challenges presented by AfCFTA to members.

Delighted to note the significant progress made so far, including the establishment of AfCFTA secretariat in Ghana and the launch of the operational phase of the agreement, he added that AfCFTA presents an unprecedented opportunity for African businesses to expand into new markets, bring new products and services, and create more jobs and wealth for our people.

“As we move into the second phase of the AfCFTA Secretariat mission here in Nigeria, I implore the Nigerian Government to quickly ratify the agreement. The timely ratification of the AfCFTA will provide a much-needed boost to our efforts to promote intra-African trade and economic integration,” he noted.

While calling on Nigerian businesses to embrace opportunities presented by AfCFTA fully, he said, as the largest economy in Africa, Nigeria has a crucial role to play in the success of this historic agreement.

Let us all work together to harness the full potential of AfCFTA and make the African continent the economic powerhouse it deserves to be, he charged.