AfCFTA: Mapping Nigeria’s foray into Africa’s single market
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By Yinka Kolawole
The African Continental Free Trade Agreement, AfCFTA, is a continent-wide trade pact aimed at tearing down barriers to commerce among African countries. It is focused on trade liberalisation across the continent and provides for progressive elimination of tariff and non-tariff barriers and development and promotion of regional and continental value chains.
The agreement which came into effect on the 1st of January, 2021, is expected to encourage trade activities by removing tariffs of over 90% of goods traded between member countries.
AfCFTA is expected to drive the integration of African countries into the global economy and enhance their bargaining power in international trade negotiations.
By Dike Onwuamaeze
Members of the organised private sector (OPS) have endorsed the construction of the railway line to run across some states in Nigeria and terminate at Maradi in Niger Republic.
President Muhammadu Buhari, on Tuesday, had justified the extension of the Kano-Katsina-Jibiya rail line to Maradi in Niger Republic, saying the project, when completed, will boost trade between the two countries, foster trans-Sahara trade and contribute to the expected gains of the African Continental Free Trade Area Agreement (AfCFTA).
Buhari, during the virtual groundbreaking for the Kano-Katsina-Jibiya-Maradi rail line, had noted that Jibiya and Maradi constituted a significant trading core between Nigeria and Niger Republic – a tradition dating back many centuries.
Segun James
President Muhammadu Buhari, former Lagos State Governor, Senator Bola Tinubu; former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala; President, African Development Bank (ADB), Dr. Akinwunmi Adesina; and the United Nations Deputy Secretary-General, Ms. Amina Mohammed, are among dignitaries lined up to speak to participants at Ehingbeti, the Lagos economic summit, scheduled to hold from next Tuesday to Thursday.
Other speakers expected at the summit are Founder and Chair of Mo Ibrahim Foundation, Mo Ibrahim; Minister of Works and Housing, Mr. Babatunde Fashola and Director-General, Budget Office of the Federation, Mr. Ben Akabueze; and United Nations Development Programme (UNDP) Resident Representative, Mohammed Yahaya.
Nigerian Stock Exchange (NSE) has highlighted the capital raising opportunities in the stock market for Small and Medium Scale Enterprise, SMEs, in the country.
By Peter Egwuatu
Nigerian Stock Exchange (NSE) has highlighted the capital raising opportunities in the stock market for Small and Medium Scale Enterprise, SMEs in the country.
This was the high point of a webinar hosted by the Exchange recently with the theme, Capital Raising for SMEs through the Stock Exchange.
The webinar was hosted in collaboration with various Trade Groups/Chambers of Commerce in the Northern region of the country, and was headlined by the President, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Hajia Saratu Iya Aliyu.
Speaking at the event, the Divisional Head, Listings Business, NSE, Mr. Olumide Bolumole noted, “The traditional role of The Exchange as a platform for capital formation and liquidity holds good promise for businesses. Despite the impact of COVID-19, the NSE functioned to facilitate needed financing with over N2.5 trillion in capital raised by governments and corporates in 2020 across