By Abba Onyekachukwu, Abuja
The Federal Government of Nigeria has reinforced its dedication to the African Continental Free Trade Area (AfCFTA) by inaugurating the Central Coordination Committee (CCC). Chaired by the Honourable Minister of Trade and Investment, Dr. Jumoke Oduwole, the CCC will oversee and streamline Nigeria’s implementation of AfCFTA protocols, ensuring a unified and strategic approach.
At the inaugural meeting of the CCC in Abuja, Dr. Oduwole highlighted the transformative potential of AfCFTA in creating a single continental market for goods and services, facilitating trade and investment across Africa. The CCC aims to drive Nigeria’s strategic implementation of AfCFTA, promoting economic growth and development.
Nigeria’s commitment to AfCFTA is evident in its participation in the Guided Trade Initiative (GTI), which facilitates commercially meaningful trading among state parties. The country has already launched its first shipment of exports to five African countries – Cameroon, Kenya, Algeria, Uganda, and Egypt – under the GTI.
The AfCFTA agreement has the potential to create a single continental market with a combined Gross Domestic Product (GDP) of $3.4 trillion and a market value of 1.4 billion people. Nigeria’s active participation in AfCFTA is expected to boost economic growth, create jobs, and increase trade and investment opportunities ¹.