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NACCIMA Applauds Nigerian Government for Ratifying AfCFTA Agreement

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has hailed the federal government for ratifying the AfCFTA agreement.
In a statement signed by Ayo Olukanni, Director General of NACCIMA, the organization said the ratification exercise was a good news and a reflection of Nigeria’s committment to be part of this historic trade and economic agreement.
“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,” the DG said.

Also Read: AfCFTA to Expand Nigeria’s Non-Oil Exports – FG

“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.”

NACCIMA in its statement said it will also boost Nigeria’s position at the forthcoming Feb 2021 Meeting of the State Party. It will also strengthen Nigeria’s position at during negotiations in the outstanding areas such as services and investment, it added.
“On our part in NACCIMA as part of strategic planning and readiness, we have 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.
“Also with this decision to ratify the Agreement, Nigerian companies must be ready and be prepared to be a part of the Afcfta.”
The DG said the NACCIMA Dialogue Series on the Afcfta which we have been running for sometime will continue to be actively pursued and the organisation will do so through the new normal virtual means.

Also Read: FG Beats Deadline, Ratifies Nigeria’s Membership of AfCFTA

“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 it’s benefits as trading takes off,” the DG said.
“We are indeed committed to the goal of ensuring that Nigerian companies become an effective player in the Afcfta and we are ready to work with all stakeholders including the National Action Committee on Afcta as well.”

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