Intra-Africa trade: AfCFTA to eliminate 90% of tariff, reduce non-tariff barriers

All plans are on by the National Action Committee – African Continental Free Trade Area (AfCFTA), to eliminate 90% of tariffs and reduce non-tariff barriers to enhance Intra-African trade across the continent.

The Secretary of the National Action Committee – African Continental Free Trade Area (AfCFTA), Francis Anatogu while briefing newsmen on the Nigeria AfCFTA Subnational strategy workshop in conjunction with the Nigerian Governor’s Forum in Abuja on Monday said the AfCFTA will also reenergize our country’s aspirations for industrialization and position Nigeria as the destination market for goods and services of the highest standards for the 1.2 billion consumers this agreement has brought to our door step. 

According to him, over 80% of imports in Africa are sourced from Europe, Asia and the Americas.

He said the first of the strategic goals in the implementation plan is to grow export capacity of every state to the tune of $1.2 billion with a focus on products where there is a competitive advantage. 

“The organizing of the first subnational strategy workshop in collaboration with the NGF here in Abuja is an intervention that will put the nation on course to make this goal a reality.

“ We also want to form the foundation of the establishment of a continental customs union thereby creating the largest single market in the world.

“These activities have also led to the realization that for the AfCFTA to be truly successful in Nigeria, there is a great need for the national strategy to be cascaded down to the subnational level with State governments playing a major role.

“Over the next three days the NAC-AfCFTA will create a platform to engage and interact with State Technical Working Groups expected to be in attendance, with the goal being to reach an understanding of tailoring their economic and development plans to include the requirements of the AfCFTA.