AfCFTA Implementation: Nigerian Businesses Establish Coalition

A coalition named the Trade in Services Coalition has been formed by thirty-six business associations from Nigeria, with the assistance of the Center for International Private Enterprise (CIPE), to facilitate the enactment of the Trade in Services Protocol within the African Continental Free Trade Area (AfCFTA).

According to a statement from CIPE, this coalition intends to unite stakeholders in Nigeria’s services trade sector. A five-member committee will lead the coalition, overseeing activities related to business, communication, finance, travel, tourism, and transportation.

Lars Benson, the regional director for CIPE Africa, mentioned, “This coalition aims to empower Nigerian enterprises to harness the opportunities provided by the AfCFTA, which presents substantial prospects for trade and innovation in goods and services throughout Africa and beyond.”

AfCFTA Implementation

He further explained that the coalition’s goals include supporting the application of the AfCFTA Trade in Services Protocol in Nigeria, promoting collaboration and advocacy on trade matters, and building a strong, unified movement for effective transformation.

He mentioned, “To meet these goals, the coalition will concentrate on the integration of Nigeria into the five prioritized sectors outlined in the AfCFTA Trade in Services. This initiative aims to empower stakeholders in these sectors to take charge of the future of trade in services through training in advocacy and capacity building.”

“The provision of services will be enhanced via collaboration with national professional associations and regulatory agencies, supported by necessary government interventions.”

The regional director of CIPE Africa emphasized that the coalition’s objective is to enhance program delivery efficiency while minimizing redundant efforts in service initiatives within Nigeria and with other African Member States.

Lola Adekanye, the CIPE country director in Nigeria, remarked that trade in services plays a crucial role in the growth and development of Nigeria’s economy.

Mary Odongo, CIPE’s program manager for Africa, explained that the formation of this coalition will aid Nigerian companies in better comprehending the AfCFTA Protocol on Trade in Services and empower them to advocate for a conducive environment for its implementation.

Mfon Usoro, the president of the Chartered Institute of Logistics and Transport in Nigeria and the appointed National Coordinator for the coalition, pointed out that the establishment of this group comes at a critical time.

SBI

Credit >> Business Day