Nigeria Initiates Shipment under AfCFTA Guided Trade Initiative

On 16 July 2024, Nigeria shipped its first consignments under the #AfCFTA Guided Trade Initiative (#GTI) from Lagos Apapa seaport. Nigerian President Ahmed Tinubu and AfCFTA Secretary-General Wamkelele Mene attended the landmark event. The event is of great significance as Nigeria is one of the largest and most influential countries in Africa.

 “Our journey to this day, though long, has been one characterised by extensive stakeholder engagements and collaboration between the public sector and the private sector. Both sectors worked to articulate and develop the vision and framework for our national participation that will assure the success of businesses that will trade under the agreement.”

Nigeria AfCFTA National Coordinator Olusegun Awolowo

This maiden shipment under the #AfCFTA is destined for a number of countries across Africa, namely, Algeria, Cameroon, Egypt, Kenya and Uganda. The exported goods are also quite varied and include bags, ceramics, cables, clinkers, shea butter, smart cards, soap and others.

It is to be recalled that Nigeria was in the batch of countries which signed to join the #AfCFTA back in 7 July 2019. According to a study on the #FTA, the African single market represents a potential additional USD 50 billion in trade for Nigeria.

The Nigerian Export Promotion Council (NEPC) has been spearheading the evangelization work in favor of AfCFTA with stakeholders across Nigeria. The NEPC is paying particular attention to #SME, #WomenEmpowerment and #YouthEntrepreneurship so that every sector of the economy and segment of society see real benefits from the AfCFTA.