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AFCFTA Ratification: NACCIMA welcomes Government’s decision, urges prompt Implementation

-by Barnabas Esiet

The National Association of Chambers of Commerce Mines and Agriculture (NACCIMA), has commended the Federal Government for signing the African Continental free Trade Agreement (AFCFTA).

In a statement, The Director General of NACCIMA, Ambassador Ayo Olukanni, said ratification of the treaty is good news and a reflection of Nigeria’s commitment to be fully involved in the historic Trade and economic Agreement.

“Notably this ratification now gives us the status of a State Party to the Agreement which also gives us 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 as well as strengthen Nigeria’s position during negotiations in the outstanding areas such as Services, Investment etc. “Olukanni said.

“We urge that the relevant arm of government especially the office of the Attorney General will promptly prepare the necessary ratification papers to ensure prompt deposition at the Secretariat.” He added.

Olukanni disclosed that NACCIMA had been closely working with various stakeholders such as AFRIEXEM bank the UNECA, regarding operational issues areas such as effectiveness of the Pan African Payment and Settlement system as part of strategic planning and readiness for the free trade zone.

He urged Nigerian companies to get prepared to be part of the new setting while reiterating the commitment of NACCIMA to support Nigerian firms become effective players in the free trade arrangement.  “The NACCIMA Dialogue Series on the AFCFTA which we have been running for some time will continue to be actively pursued 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 its benefits as trading takes off.” He said.


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