In a monumental stride towards economic integration and continental trade expansion, Nigeria has launched its “Guided Trade Initiative” under the African Continental Free Trade Area (AfCFTA).
This initiative not only marks Nigeria’s official commencement of trading under AfCFTA but also celebrates the historic certification of ten leading Nigerian companies with the prestigious AfCFTA Certificate of Rules of Origin. This certification positions these companies to be the vanguard of Nigeria’s export drive across Africa.
The highlight of the launch was the presentation of the prestigious AfCFTA Certificate of Rules of Origin to ten pioneering Nigerian companies. These trailblazers include Le Look Nigeria, Secure ID Limited, Dangote, Avila Naturalle, Flour Mills of Nigeria, Craft Methods Limited, Ruchim Limited – Master Tea, Cardstel Solutions, Tolaram: Insignia Print Technology Enterprise, and HWANI INDUSTRY Nigeria Limited. This certification empowers these companies to begin exporting Nigerian products across Africa, reinforcing the nation’s commitment to fostering intra-African trade and economic diversification.
Secretary to the Government of the Federation, Senator George Akume, representing President Tinubu, emphasized the initiative’s transformative potential. “We will create an enabling environment that supports businesses, encourages innovation, and fosters competitiveness,” Akume stated. “We will work closely with our continental partners to ensure that the benefits of AfCFTA are equitably distributed and that no one is left behind.”
Mr. Olusegun Awolowo, National Coordinator of AfCFTA Nigeria, and Mr. Wamkele Mene, Secretary General of the AfCFTA Secretariat, highlighted the agreement’s role in promoting industrialization and inclusive economic growth through private sector involvement. With 54 countries signed up, representing a population of 1.3 billion and a combined GDP of $3.4 trillion, the potential for economic transformation is immense.
“In view of this, we must seize this opportunity by growing Nigeria’s production and productivity, building an army of exporters to be unleashed on the continent,” stated Mr. Awolowo.
Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, reiterated Nigeria’s commitment to leveraging AfCFTA’s opportunities for industrialization and job creation. She called for collaboration among stakeholders to ensure the initiative delivers tangible benefits for the people.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, emphasized the Guided Trade Initiative’s significance in propelling Nigeria’s economic growth and fostering regional integration. He pointed out that AfCFTA’s potential to establish a unified African market could address historically low levels of intra-African trade. Edun expressed confidence that the initiative would catalyze exponential growth in trade volumes between African nations.
Edun also alluded to the “Renewed Hope Agenda,” a national program prioritizing economic revitalization and inclusive growth. He announced the near completion of the gazetting process for tariff concessions, providing Nigerian businesses with the necessary tools to compete effectively within the continental market.
“Today’s launch signifies the proactive measures undertaken by this administration,” declared Edun. He portrayed the event as a formal declaration of Nigeria’s readiness to assume a leading role in continental and global trade. He highlighted AfCFTA’s potential to unlock a prosperous future for all Africans, envisioning a future built on collaboration, innovation, and collective strength.
Mr. Olusegun Awolowo concluded by emphasizing trade as the most sustainable path to prosperity, quoting former Indian Prime Minister Jawaharlal Nehru: “India must export or perish.” Awolowo declared, “That sentiment holds true for us today. Nigeria and indeed African countries must export their way out of poverty, unemployment, and economic depression.” He announced the approval to transform the National Action Committee on the AfCFTA (NAC-AfCFTA) into a Nigeria/AfCFTA Coordination Office (NACO), with the authority to effectively deliver the desired outcomes.
The launch of the Guided Trade Initiative and the awarding of the AfCFTA Certificate of Rules of Origin to these ten pioneering companies symbolize a strategic leap forward. Nigeria is poised to play a leading role in fostering economic growth and regional integration across the African continent.
