Vice President Yemi Osinbajo has reiterated the need to develop manpower so Nigeria can fully enjoy benefits inherent in the African Continental Free Trade Agreement (AfCFTA) .
Osinbajo spoke at the 52nd annual conference of the Chartered Institute of Personnel Management (CIPM). According to him, the country needs to develop its manpower to fully enjoy the benefits of the trade agreement.
The vice president stressed that building productive capacity is the first step to enjoying the free trade agreement. He said it was important for businesses and entrepreneurs to successfully integrate into the opportunities of the free trade agreement.
According to him, Nigeria needs to continue to lead as negotiations move into the second phase, which focuses on intellectual property and competition and investment policy.
He said: “The free trade agreement goes beyond trade in goods and services; it covers intellectual property, competition and investment policies. And for Nigeria to fully enjoy the benefits inherent in the agreement, we need to create opportunities for its manpower.
“The agreement at every stage provides significant opportunities for manpower resources. That is why Nigeria needs to scale up its official negotiating capacity. Building productive capacity is the first step. For businesses and entrepreneurs to successfully tap into the agreement also depends on strengthening our domestic ability to facilitate trade.
“The private sector must support the government to achieve this. The private sector must bring in its expertise and understanding of the process, and pay close attention to the negotiation process, to ensure our MSMEs can enjoy opportunities in the free trade agreement.
“The private sector’s input is also needed because Nigeria needs to play a leading role in the integration and harmonisation of border management…”
President and Chairman of Council Wale Adediran said: “It is time to reform our establishments, institutions, and companies; to revive multilateral, multi-industry and cross-organisational agreements that are essential for our growth. We must continue to create new coalitions on the most pressing issues of our time.”
He called on the government, public, and private sectors to effectively identify and address the people-related impacts and implications of AfCFTA, to proactively mitigate against risk while also positioning the country at the vantage point of value.
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