An expert has warned that Nigeria’s lack of preparation and infrastructural deficiencies may hinder its ability to benefit from the African Continental Free Trade Area agreement.
According to the Vice President of the National Association of Government Approved Freight Forwarders, Segun Musa, Nigeria’s participation in AfCFTA will be limited to importing goods from other African nations unless urgent reforms are implemented.
Musa emphasized the need for sustainable production, citing the lack of essential enablers such as stable energy supply, advanced technology, reliable infrastructure, and adequate security as major hindrances.
He noted that the government’s implementation of AfCFTA has been overly theoretical, with a lack of practical engagement and strategies to achieve results.
To address these challenges, Musa called for increased support for entrepreneurs in production, provision of liquidity, and ensuring products meet certification standards.
He also emphasized the need for regulatory bodies like the Standards Organisation of Nigeria to promote standardization and improve local manufacturing capacity.
The AfCFTA agreement, which came into effect in 2021, aims to create a single market for goods and services across Africa, fostering intra-continental trade and economic integration.
However, Nigeria’s ability to maximize the benefits of this ambitious project remains uncertain without significant structural reforms and a clear trade strategy.
As Nigeria continues to navigate the complexities of AfCFTA, experts like Musa are urging the government to take a more proactive approach to addressing the country’s infrastructural deficiencies and promoting sustainable production.
