Nigeria, Uganda strengthen commerce relations beneath AfCFTA

Nigeria and the Ugandan governments have strengthened commerce relations following the appointment of the Ugandan Commerce Consultant Ani Bassey-Eyo to Nigeria, marking a step in implementing the African Continental Free Commerce Space settlement.

In line with an announcement, the appointment preceded the signing of dedication export orders, paving the best way for Uganda’s first official cargo of products to Nigeria.

The occasion held in December 2024 coincided with the commissioning of the Free Zones Export facility at Entebbe Worldwide Airport and the launch of Uganda’s AfCFTA Implementation Technique.

Uganda’s President Yoweri Museveni, who witnessed the signing, described regional commerce as a catalyst for financial transformation, stating, “I’m happy to kick off the journey for the primary formal exports of Ugandan merchandise to West Africa beneath AfCFTA.”

“As Africa awakens to its financial potential, it turns into evident that home markets alone are usually not ample. Increasing commerce throughout the continent is important for sustainable development,” he added.

The primary cargo, anticipated within the first quarter of 2025, will embody espresso, black and inexperienced tea, milk, fish, and prescribed drugs. The pilot consignment goals to evaluate market demand in Nigeria and lay the groundwork for additional commerce growth.

Museveni recommended President Bola Tinubu for supporting the initiative and facilitating the entry of Ugandan merchandise into the Nigerian market. He urged African nations to strengthen business ties and harness the continent’s financial potential.

Minister of Commerce, Trade, and Cooperatives, Francis Mwebesa, highlighted the position of free zones in attracting funding and creating jobs.

Equally, Everlasting Secretary Lynette Bagonza praised the collaborative efforts of presidency ministries and the non-public sector in shaping Uganda’s commerce technique.

Uganda famous its push into Nigeria’s market aligns with its broader ambition to place itself as a regional commerce hub.

Past Nigeria, the nation added its plans to increase exports to different AfCFTA member states by leveraging commerce corridors and enhancing infrastructure.