Nigeria needs a national strategy to benefit from ACFTA – Expert

Elizabeth Christopher, Abuja


The President of Africa Capacity Building Foundation, Mr. Emmanuel Nnaozie says Nigeria requires a national strategy to drive its free trade agenda in order to benefit from the Africa Continental Free Trade Agreement (ACFTA).

According to him Nigeria needs to put in place strategies for maximizing the benefit of the Agreement.

“Now that Nigeria has signed the agreement, ratification is the next thing. It is a big deal, it is a game changer for the country but for it to materialize and have handful result, and a number of things have to happen”.

“Number one is a national focal point or national institution that will drive the ACFTA Agenda must be in place. Two, we need a national agenda for maximizing the benefit of this massive free trade area of more than 1.2 million people,” he explained

Mr. Nnadozie added that Nigeria needs a readiness assessment to enable the country benefit from the continental agreement.

“Is Nigeria ready? At the African Capacity building Foundation (ACBF) if the government is interested we can work with relevant authorities to determine where the gaps are, whether they are in terms of policy capacity at the government side or the private sector dimension, because this will be driven by the private sector,” he said

He noted that Nigeria requires a rigorous approach to implement its economic policies.

“The policies are good enough, it’s one thing to have a good policy, its yet another thing to implement the policies, so I think a more rigorous approach is needed to implement the existing policies especially the ones that relates to economic transformation,” Mr. Nnadozie emphasised.

Peace PIAK