Just as the Africa Continental Free Trade Area (AfCFTA) treaty comes into force January 2021, Nigerian businesses and the entire private sector have to become conversant and knowledgeable with the rules as this would be required so as to benefit maximally from the treaty. Prof. Osinbajo stated this Thursday at the opening session of the 52nd Annual National Conference of the Chartered Institute of Personnel Management (CIPM) themed: “Nigeria and Manpower Preparedness for the African Continental Free Trade Area.”

According to him, “it is imperative for Nigerian businesses to also familiarize themselves with AfCFTA rules because they will have to assist in providing the evidence to trigger action on trade remedies by government.” Stressing the importance of capacity building in understanding the operationalization of the AfCFTA, the Vice President noted that “building productive capacity is only the first step. The ability of our businesses and entrepreneurs to integrate successfully into the opportunities of the AfCFTA also depends a great deal on strengthening our domestic ability to facilitate trade.”

In his words: “Our logistics chains, port processes, and customs procedures must be dynamic and efficient and it is obvious that the capacities of the operators and workers in these areas need to be rapidly upscaled through training including on the use of technologies. “This is why we are paying particular attention to the rapid implementation of the National Single Window project which we expect to radically improve trade facilitation.

“Given the size of our economy, it is also clear that Nigeria must play a leading role in the harmonization and integration of border management, regulatory cooperation, and the formalization of informal cross-border trade in the continent. These actions are necessary to assist and support our MSMEs to be able to make use of the opportunities afforded us by the AfCFTA.” The Vice President said in order to be able to measure the impact of AfCFTA on the economy including providing evidence on its benefits or on unfair trade practices, “it is clear that we must strengthen domestic capacity to produce, disseminate and use reliable trade statistics. This is important not only for monitoring progress but also for establishing safety nets as we implement the AfCFTA.” Speaking on the Federal Government’s efforts to ensure that Nigeria benefits maximally from the policy, the Vice President said: “the creation of the Nigerian Office for Trade Negotiation (NOTN) was a deliberate decision by this Government to change our approach to trade negotiations by ensuring that our participation is underpinned by top-class technical knowledge and adequate preparations.” Explaining further, Prof. Osinbajo stated that “it is imperative that Nigeria continues to lead on AfCFTA negotiations as we move into the second phase that will focus on intellectual property, competition policy and investment policy

“This will require the scaling up of our official negotiating capacities and the private sector must support this process by bringing its interests, concerns, and understanding of the practical dynamics of international trade to the attention of government and by paying close attention to the negotiation process.” The Vice President assured that aside prioritizing trade negotiations, the Buhari administration is also paying attention to the agreement on the free movement of persons. He said that “for Nigeria, this protocol on the free movement of persons is crucial, we have a comparative advantage in very skilled and competent personnel and these opportunities cannot be realized without the protocols being passed.” The 3-day conference will feature presentations by the Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan; the Chief Executive of the Chartered Institute of Personnel Development, Mr Peter Cheese; President of the Institution of Occupational Safety and Health (IOSH), Mr James Quinn, among others

https://www.vanguardngr.com/2020/11/private-sector-

businesses-in-nigeria-should-tap-into-afcfta-treaty-%E2%80%95-osinbajo/

The biggest fool of them all.


Get a simple website with custom domain, hosting and SSL, all for 12k only! Offer valid for 24 hours. Call/chat to get in touch: 0803 717 1389

Hmm

With insecurity everywhere this one is here dishing out advice.

You and your partner in crime should fix the insecurity first and see if people won't rush to invests in Nigeria.

Which fool will invest let's say in Agricultural now in the north?, even down south the Fulani's and their cow is still a big wahala.

Indeed..


Good morning y'all

❤️

Useless government

oya nw

The insecurity is the baddest of them all..

How do we tap into this with current unfavourable situation in the country? A country where ur security is zero. If an investor's security isnt certain, how will he do biz before tapping in. Let this govt secure this country,others things will follow.

They should tap into Africa Continental Free Trade Area (AfCFTA) agreement even when you closed the border?

crossfm:
With insecurity everywhere this one is here dishing out advice.

You and your partner in crime should fix the insecurity first and see if people won't rush to invests in Nigeria.

Because of insecurity, which Osinbajo does not have total influence over, the VP should not be active in moving Nigeria forward in other sectors?

Innocent and unarmed farmers are being killed and nothing is being done other than condemn.


Hunger on the land!

Good one

With the dollar rate?

This is quite enlightening. Though the government still has a lot to do on security.

They will be making propositions and saying we should.. we should...

Are you not the government? Why are you telling us? Do it already and tell us what you have done not we should we should ...

What am I a business man to do about streamlining the port operations for instance

FunkeOseni:
The biggest fool of them all.

Must you guys throw insults?

OneTemplate:


Because of insecurity, which Osinbajo does not have total influence over, the VP should not be active in moving Nigeria forward in other sectors?

Just look at what you said,number 2 citizen of a country has no influence over insecurity?,its well.

This fool thinks governance is about speaking grammar.

Go to bornu and tell the rice farmers about free trade agreement.

Dimwit, the border is closed.

Our West African supply chains corroded.

Who made this Man a professor?

Ok

Once this Government opens boarder I will take anything they say on this trade thing serious

Well! Goods from African countries, where production is cheaper is about to flood Nigeria markets, finally killing local production. On the other hand, cheaper prices will push down inflation.

We ought to become the China of Africa, but how long will it take us to get there?

I can just imagine Nigeria becoming a dumping ground , whereas we have nothing much to export due to high cost of production. How can we balance trade as a country?

I will be happy to learn.

sir u too dey serious over this useless system of government ............ any advice cant wrk coz the system wont allow it to wrk ...... its a bitter truth sir

What if events comes to prove him right and on the good side of the masses, would you come here to apologise for the insult? Not everything is what it seems from afar. If you have ever worked under a boss with selfish agenda, you will know how difficult the situation could be. I hear people asking him to resign and I say what if a worse fellow is given the position. Time will tell.


quote author=FunkeOseni post=96546841]The biggest fool of them all.[/quote]

Great!

Never get excited with a Dead on arrival projections by a Nigerian system aggressively against its own country development based on policies it embraces

Is that the most important thing businesses need in Nigeria?

All these politicians are square pegs in round holes.

FunkeOseni:
The biggest fool of them all.


Get a simple website with custom domain, hosting and SSL, all for 12k only! Offer valid for 24 hours. Call/chat to get in touch: 0803 717 1389

No need for this insult, just say what you have to say and stop insulting

Give us basic amenities, leave the rest. Nigerians are talented and hard working to grab other things themselves

FunkeOseni:
The biggest fool of them all.


Get a simple website with custom domain, hosting and SSL, all for 12k only! Offer valid for 24 hours. Call/chat to get in touch: 0803 717 1389

look at a fool that doesn't know what to say