• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, July 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Afreximbank supports Nigeria on AfCFTA

The Matters Press by The Matters Press
March 26, 2019
Reading Time: 2 mins read
0
China’s trade surplus with U.S dips

Trade

China, U.S trade

Prof. Benedict Oramah, President, Afreximbank, said Nigeria acted wisely in broadening consultation as regards the signing of the African Continental Free Trade Area (AfCFTA) Agreement.

RELATED POSTS

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

Oramah said this at the 2019 Bullion Lecture with the theme: “Leveraging the African Continental Free Trade Agreement for Nigeria’s Economic Development” organised by the Centre for Financial Journalism in Lagos.

He noted that such consultations with all interested parties would strengthen the Federal Government as well as negotiating tariff and other concessions.

According to him, when Nigeria finally decides to join, such consultation should be rapidly concluded so that the country can join the trading bloc at the inception stage.

This, Oramah said, would afford the country the opportunity to participate fully in the consultations on a number of key parameters.

AfCFTA is a trade agreement between 49 African Union member states with the goal of creating a single market followed by free movement and a single-currency union.

AfCFTA was signed in Kigali, Rwanda, on March 21, 2018 and the signing of the agreement was yet to establish the African Continental Free Trade Area.

‘’It will function as an umbrella to which protocols and annexes will be added, once all documents are concluded and ratified by 22 states, the free trade area will formally exist.‘’

Adjustment in domestic policies and incentive structures should be made to boost domestic production capacity in the country.

The Afreximbank boss said the agreement would also allow the country to take advantage of the large continental market.

Oramah expressed optimism that the agreement would go a long way in transforming Nigeria and Africa as a whole economically if leveraged on the enormous opportunities that AfCFTA offers.

He said: “It cannot be realised without the participation of all economies, particularly Nigeria.

‘’The issues surrounding trade treaties can be complex benefits, and can sometimes come slowly and chances are that there can be sudden disappointment.

“That’s why we believe that the Nigerian government acted wisely in broadening a consultation with all interested parties.”

Oramah also noted that signing the AfCFTA agreement could create the opportunity for Nigeria to take over from China as the world largest manufacturing hub.

“China today exports as much as 45 billion dollars of manufactured exports to Africa.

“Free movement of goods and services among countries can further create a lot of jobs and in fact Nigeria stands a very good chance because the country has head start into many opportunities.

He said the continent needs a sustained strategic shift to industrialisation, increased intra-African trade, and de-commoditisation through increased value addition and export diversification.

Tags: AfCFTA
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

July 5, 2025
Veritas Kapital’s total assets hit N21.4bn
Economy/Technology

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

July 4, 2025
Salvaging basic education from ruins of Boko Haram war in Borno
Economy/Technology

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

July 3, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF

July 1, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

Transformational in FCT in line with Tinubu’s Renewed Hope agenda

June 30, 2025
China’s agricultural wholesale products prices continue to drop
Agriculture

Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

June 29, 2025
Next Post
Elections: Buhari, others vote

Buhari flays 8th National Assembly

Nigeria gets AfDB’s $14m as member of ATI

AfDB, foundation spur entrepreneurship

Recommended Stories

NBS reports increase in Inflation

Futureview offers investment tips to hedge inflation

February 5, 2022
Nigeria’s fiscal pressure implodes economy – NESG

Industrial food fortification critical to solving micronutrient deficiency – NESG

September 27, 2023
Kenya-US trade deal a potential model for Africa

Nigeria’s Occupational Health and Safety plan will improve productivity in workplace

November 16, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs
  • Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG
  • Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us