Nigeria data progress in AfCFTA implementation report

The African Continental Free Commerce Space implementation scorecard launched by the Nigeria AfCFTA Coordination Workplace has highlighted the progress recorded below the management of the late Nationwide Coordinator, Mr Olusegun Awolowo, whose stewardship helped place Nigeria as an lively participant within the African Continental Free Commerce Space.

The report titled “The Nigeria AfCFTA Consolidated Implementation Report for 2024–2025” outlines key milestones achieved throughout the interval, together with Nigeria’s formal participation in AfCFTA buying and selling preparations, strengthened institutional coordination, and expanded engagement with the non-public sector and improvement companions.

In line with the report, which is accessible via https://afcfta.ng/AfCFTA-2024-2025-Implementation-Report.pdf, Nigeria’s implementation journey throughout the evaluate interval marked a transition from preparatory groundwork to the execution of AfCFTA commitments.

The report said that this progress was supported by improved institutional capability and stronger collaboration amongst stakeholders.

Commenting on the scorecard, the Performing Nationwide Coordinator of the Nigeria AfCFTA Coordination Workplace, Dr Olusegun Olutayo, who was lately appointed by the Presidency via the Workplace of the Secretary to the Government of the Federation, mentioned the report offers a document of achievements and displays the Federal Authorities’s dedication to harnessing the alternatives throughout the AfCFTA framework.

In line with Olutayo in a press release on Monday, the coordination workplace stays centered on strengthening institutional frameworks, increasing exporter participation, and rising Nigeria’s commerce presence throughout African markets.

He added that the administration of President Bola Tinubu has expressed confidence within the readiness of the Organised Personal Sector of Nigeria and different stakeholders to assist the AfCFTA implementation agenda.

A serious improvement highlighted within the report was Nigeria’s participation within the AfCFTA Guided Commerce Initiative, which serves as a pilot framework for facilitating preferential commerce amongst taking part African nations.

Underneath this association, Nigeria efficiently executed its first AfCFTA-compliant cargo, marking a milestone within the nation’s integration into the continental buying and selling system.

The scorecard additionally indicated that the Coordination Workplace strengthened commerce facilitation mechanisms and elevated engagement with stakeholders throughout authorities, the non-public sector, and sub-national entities.

These efforts centered on bettering export readiness, enhancing regulatory coordination, and positioning Nigerian companies to learn from alternatives throughout the AfCFTA market.

The report additional famous that the Coordination Workplace expanded capacity-building programmes designed to equip exporters, customs authorities, and regulatory businesses with information of AfCFTA guidelines and procedures, notably the Guidelines of Origin necessities that information preferential commerce below the settlement.

By engagements with enterprise associations and commerce teams, the Coordination Workplace additionally labored to establish export-ready merchandise, join Nigerian enterprises with African markets, and strengthen linkages throughout continental worth chains.

Digitalisation was additionally highlighted as an space of progress, with initiatives geared toward integrating AfCFTA processes into nationwide commerce data programs.

In line with the report, these reforms are anticipated to enhance transparency, assist knowledge trade, and improve the monitoring of cross-border shipments, thereby strengthening the effectivity of Nigeria’s commerce ecosystem.

The scorecard additionally documented Nigeria’s progress in implementing a number of AfCFTA protocols protecting commerce in items, commerce in providers, digital commerce, funding, competitors coverage, and mental property rights.

These frameworks present the authorized and institutional basis for deepening financial cooperation and commerce integration amongst African nations, the report added.

The AfCFTA Coordination Workplace said that the report displays ongoing efforts to assist Nigeria’s participation within the continental buying and selling association whereas strengthening the nation’s institutional capability to implement the settlement.