NACCIMA Commends FG’s Ratification Of AFCFTA

By BLESSING OKEZIE, LAGOS

Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture(NACCIMA), has commended the decision by the Federal government to ratify the African Continental Free Trade Agreement (AfCFTA ).

The Director General NACCIMA,  Ambassador Ayo Olukanni, in a statement to this effect, described the government’s move as well as the association’s support as  good news and a reflection of it’s  committment to be part of  the historic trade and economic agreement.

Olukanni, therefore  urged the  relevant arms of government especially the office of the Attorney General of the Federation to promptly  prepare the necessary ratification papers to ensure prompt  deposition at the Secretariat.

He noted that  the ratification would give the association’s members the status of a State Party to the Agreement which also gives them a leverage to be an effective player in the scheme of things.

“It will also boost our position at the forthcoming Feb 2021 meeting of the State Party. It  will also  strengthen Nigeria’s position  during  negotiations in the outstanding areas such as services, investment.

” On our part in NACCIMA,as part of strategic  planning and readiness, we have been closely working with various  stakeholders such as Afriexim bank the UNECA, regarding operational issue areas such as effectiveness of the Pan African Payment and Settlement system. Also with this decision to ratify the agreement,  Nigerian companies must be ready and be prepared to be a part of the Afcfta” he stated.

He assured that the ‘NACCIMA Dialogue Series’ on the AfCFTA which the association has  been running for sometime  will continue to be actively pursued insisting that the association  would do so  through the new normal virtual means.

“This is to  prepare our members for an understanding of the fine details of the agreement to ensure that they can be able to  fully  harness it’s  benefits as trading takes off.  “We are indeed committed to the goal of ensuring that Nigerian companies become an effective player in the Afcfta and we are ready to work with all stakeholders including the National Action  Committee on Afcta as well”, the NACCIMA DG stated.