AfCFTA: Suspend implementation until ratification is done, says OPS

Bola Olajuwon and Charles Okonji

The organised private sector (OPS) has warned that the Federal Government should not commence with the implementation of the African Continetal Free Trade Area (AfCFTA) agreement until ratification is done, explaining that Nigeria would lose out in the trade if the required and most necessary things are not done.

In her welcome address, at the National AfCFTA Forum on Effective Implementation for Indusrtialisation and Inclusive Development of Nigeria,  the National President of NACCIMA, Hajiya Saratu Iya Aliyu, who was represented by the 1st Deputy President, Ide John Udeagbala, noted that ratification would spell out some hidden and unanswered questions concerning AfCFTA.

Udeagbala said, “For the potential in AfCFTA to become a reality, the issues of trade policy, trade facilitation, the productive capacity of the private sector, the need for trade related infrastructure, the issues of finance, trade information and factor market integration must be tackled.

According to him, AfCFTA blueprint indicates, quite rightly, that Africa’s structural transformation and industrialisation is critical for long-term inclusive and sustainable development.

“We are here today to deliberate on how best the AfCFTA agreement can become a platform for inclusive economic development in Nigeria particularly within the context of industrialisation. This is against the background that industrialisation plays a major role in the economic development of every country, as the history of advanced countries has shown. In fact, this notion is so crucial to the policy stance of African nations under AGENDA 2063 of the African Union which was developed and adopted by member states as a blueprint and a master plan for transforming Africa into the global powerhouse of the future,” he stressed.

Commenting on the trade agreement, the former Governor of Ekiti State, Segun Oni, warned that Nigeria with the implementation, stressing that most have tendencies of cutting corners.

He said; “I know that some Western countries would use some African partners to push their goods haven stamped them with label of made in that local county. They have made us to believe that without them, we cannot stand. They have so divided us to make sure that their aims are driven.

Earlier, the Federal Government had stated that it would no longer allow smuggling and other predatory trade practices to continue unchecked as it undermines the Nigerian economic development efforts and destroys local industries, leading to job losses.

Minister of Industry, Trade and Investment, who was represented by the CEO of Nigeria Export Promotion Council (NEPC), Mr Segun Awolowo noted that the country will no longer allow rogue traders to manipulate rules of origin.

Awolowo said; ”We also will not allow rogue traders to manipulate the rules of origin and disguise goods from outside the continent as made in Africa so as to qualify for duty free passage. For a successful implementation of AfCFTA, government has constituted this National Action Committee to among others, coordinate a wide range of actions at the domestic, regional and continental levels.”

He noted that at the regional and continental levels, the National Action Committee shall coordinate relevant bodies to champion programmes to resolve the critical challenges. Adding that trade policy harmonisation with neighbours and ECOWAS member states, smuggling and abuse of rules of origin, growing regional production capacity and value chains, and enforcing our borders and trade rules were to be addressed.

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He stressed that NAC at the domestic level, will work with MDAs and stakeholder groups to implement initiatives to enhance production and export trading capacity, improve infrastructure especially, power, logistics and quality infrastructure, as well as improving the trade environment including trade facilitation, ease of doing business, and fiscal and monetary policies.

In his remarks, UN Resident and Humanitarian Coordinator in Nigeria, Edward Killon, said that the United Nations is here to support Nigeria to make the AfCFTA work for the county’s people, for the MSMEs, and for the women and youth entrepreneurs.

Killon Added that for the AfCFTA to have a positive influence on long- term investment in productive capacities, “We will need to develop appropriate supporting policies, build the requisite infrastructure and ensure an educated work force. We will need to actively promote productive employment and decent work, women’s empowerment and food security and; reduction in inequalities. The United Nations is here to support Nigeria to make the AfCFTA work for the county’s people, for the MSMEs, and for the women and youth entrepreneurs.”