Tag: AfCFTA
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FG gazzettes ECOWAS tarriffs, advancing AfCFTA implementation
The Federal Government has officially gazetted and transmitted the ECOWAS schedule of tariff offers for Trade in Goods under the African Continental Free Trade Area (AfCFTA) to it secretariat. This is contained in a statement by Dr Jumoke Oduwole, Minister of Industry, Trade and Investment, on
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Expectations and urgent security action for Tinubu as ECOWAS Chair
The election of Nigeria’s President Bola Tinubu as new Chairman of the Economic Community of West African States (ECOWAS), during the 63rd Ordinary Session of the Authority of Heads of State and Government of ECOWAS held in Guinea-Bissau, has led to high expectations on the potential implications it may have on regional dynamics. Tinubu’s appointment…
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AfCFTA: Buhari approves appointment of Segun Awolowo
President Muhammadu Buhari has approved the appointment of Mr. Olusegun Awolowo as the Secretary, National Action Committee on the African Continental Free Trade Area (AfCFTA) for a tenure of four (4) years with effect from December 19, 2022.
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Buhari decries low-level trade among African countries
President Muhammadu Buhari has decried the low-level trade among African countries, emphasising that Intra-regional trade still accounts for a very tiny fraction of total trade in Africa. The president stated this while addressing the second African Sub-Sovereign Governments Network (AFSNET) Conference on Friday in Abuja. The event was organised by the Afreximbank in collaboration with…
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CIBN, PAPSS sign MoU to resolve payments-related barriers in continental trade
The leadership of the Chartered Institute of Bankers of Nigeria (CIBN) has signed a Memorandum of Understanding (MoU) with Pan- African and Payment Settlement System (PAPSS) in a bid to resolve payments-related barriers in the actualization of the African Continental Free Trade Area (AfCFTA). The MoU was signed between both organizations at the CIBN’s just-concluded…
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AfCFTA: Trade negotiation ongoing between Nigeria, African countries
Ms Funmi Folorunsho, African Continental Free Trade Agreement (AfCFTA) Co-champion on Transportation, says trade negotiation is ongoing between Nigeria and other African countries on trade opportunities in the transportation sector. Folorunsho made this known in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. She said that AfCFTA Transportation Group had…
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Delta ready to partner FG on AfCFTA – Okowa
Gov. Ifeanyi Okowa of Delta on Tuesday said that his administration would partner the Federal Government toward domesticating the African Continental Free Trade Area (AfCFTA) agreement. The governor gave the assurance in a meeting with a Federal Government Trade delegation led by the Minister for Industry, Trade and Investment, Mr Niyi Adebayo, in Asaba. He…
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Facts and figures of Africa free trade, AfCFTA
The Africa Continental Free Trade Agreement (AfCFTA), which will commence in the next two weeks, was designed to create the largest free trade area in the world measured by the number of countries participating. The pact is to connect 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at 3.4…
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Nigeria joins African Free Trade Zone
The Federal Executive Council (FEC) ratified Nigeria’s membership of the African Continental Free Trade Area Agreement on Wednesday in Abuja. Minister of Information and Culture, Alhaji Lai Mohammed, made this known at the end of the weekly meeting of the Council chaired by President Muhammadu Buhari. According to the Minister, with the ratification, Nigeria has…
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African Continental Free Trade Agreement (AfCFTA): Matters Arising, By Henry Boyo
By Henry Boyo President Muhammadu Buhari’s endorsement, of the document establishing the AfCFTA, at the 17th Extraordinary Session of the Assembly of African Union Heads of government in Niamey, Niger Republic, last week, (July 2019), suggests that 53 Countries are now party to the same AfCFTA, which Nigeria, unexpectedly, refused to sign, even after 44…