AfCFTA national committee develops strategies to facilitate trade | TheCable

24/07/2022 12:02:00 AM

AfCFTA national committee develops strategies to facilitate trade | TheCable

AfCFTA national committee develops strategies to facilitate trade | TheCable

The National Action Committee (NAC) on African Continental Free Trade Area (AfCFTA), says it has developed eight strategic pillars in line with the African Union’s framework for boosting trade in

the region.PDP panel preferred Wike over Okowa., TheCable had reported how Idris was arrested in Kano after he failed to respond to invitations by the commission to answer questions over the allegation of N80 billion fraud.Subscription hike: Lawyer seeks jail term for Multichoice directors over ‘contempt’ of court Author: Bolanle Olabimtan July 22, 2022 8:08 AM A Competition and Consumer Protection (CCP) tribunal sitting in Abuja has adjourned a suit challenging the price increase by MultiChoice Nigeria Limited.

Francis Anatogu, secretary of NAC, disclosed this on Saturday in Abuja.Anatogu said the strategy was developed to achieve the African Continental Free Trade Area (AfCFTA) objectives.Advertisement “The committee that was set up at my own instance deliberated, but there was no vote and they recommended three names because they knew that it was prerogative to pick any one of the three, so there was actually no vote.He said some of the pillars focus on establishing the institutional framework to coordinate the multiple agencies in the public and private sectors involved in implementing provisions of the AfCFTA agreement.Advertisement The EFCC said Idris and his co-defendants are indicted on a 14-count charge of stealing and criminal breach of trust to the tune of N109.Advertisement According to him, the strategies will grow production for export capacity to $50 billion annually.“And the committee said we are recommending the following and they recommended three people and out of the three people I picked one.Anatogu said this was being done by focusing on selected priority product value chains and on growing a highly productive workforce to earn premium wages in Nigeria and Africa.The tribunal an ex parte motion, directing parties to maintain “status quo antebellum” (to maintain the situation as it existed before).

“On this pillar, our priority is to fulfil all national requirements to enable Nigerian businesses to commence trading under AfCFTA once the necessary legal documentation becomes available from the AfCFTA secretariat,” he said.So I think they should be fair to me and should also state the fact.1 billion, in exchange for “accelerating the payment of 13% derivation to the nine oil-producing states in the federation”.Advertisement “So far, Nigeria Customs Service has been designated as Nigeria’s competent authority for the administration of the rules of origin.“With that, efforts are now underway to finalise the import and export processes, procedures, and forms for the administration of AfCFTA rules of origin and gazetting of the legal documents to enable trade to commence.We are talking to him and talking to his governor’s colleagues.“We have identified our arrowhead, high potential, and frontier products and services for AfCFTA, considering Africa’s demand and our industrial policies set out in the national development plan, national industrial policy, zero oil plan, and other sector policies.Advertisement At the court session on Friday, Rotimi Jacobs, counsel to the EFCC, prayed the court to grant the prosecution leave to prefer a criminal charge under section 109 of ACJA against the defendants.” Anatogu said the AfCFTA, with a focus on trade of value-added products and services, presents huge possibilities for state governments to grow their economies by attracting and supporting businesses focused on export trade.” Asked if Ortom lied to the public, Abubakar retorted: “What he said was inaccurate, I can give you a copy that was sent to me, there was no voting there, there was no record of any vote, absolutely not.So the matter can only come to the tribunal if they are not satisfied with the decision of the commission,” Agoro said.

According to him, a sub-national AfCFTA programme is already underway to support states to develop their strategies for intra-African trade.As a result, he said the NAC secretariat in collaboration with the nigeria governors forum (NGF) organised a three-day sub-national strategy workshop on AfCFTA in November 2021.Advertisement.“Our charge to the states is to build an ecosystem around a specific product and service value chain to achieve a minimum of $1.2 billion of exports by 2035,” he added.Further speaking on the pillars, he said the third is trade facilitation, reducing time and cost of trade by simplifying, modernising and harmonising import and export processes and procedures.Thus, Agoro prayed the court to decline jurisdiction to entertain the suit.

Advertisement It also focuses on the automation of administrative and regulatory compliance processes.He said while the fourth pillar focused on domesticating the AfCFTA agreement by updating trade and complementary policies, regulations, and laws to align with the provisions of the AfCFTA Agreement and to conform with contemporary practices; the fifth pillar would focus on trade infrastructure including energy, digital, water and logistics infrastructure to enable intra-Africa trade.According to him, this is evidence of the existing challenges in the quality of trade and transport infrastructure, ease of arranging competitively priced shipping, timeliness, and ability to track and trace shipments.He said to achieve efficiency, reducing the time and cost required to move cargo and persons across the various transportation modes was an important enabler of trade competitiveness for Nigeria and, therefore, a critical imperative for logistics and supply chain.“Considering the magnitude of the infrastructure deficit, innovative mechanisms are required to prepare for AfCFTA,” he added.He prayed the court to command MultiChioce directors to appear before the tribunal and “show cause why they should not be committed to prison for willful disobedience of the order of this honourable tribunal granted on March 30 2022.

“The mechanisms include cluster developments along trade corridors, leveraging eligible customer schemes and off-grid solutions for electricity in industrial zones and renewables for SMEs.”.

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