The National Action Committee on the implementation of the AfCFTA was inaugurated to fulfill a
critical mandate: coordinating various Ministries, Agencies, and Departments (MDAs) along with
stakeholder groups to execute projects, policies, and programs aimed at realizing the benefits of the
African Continental Free Trade Area (AfCFTA) for Nigeria.
Mission:
Through stakeholder consultation and building on the national development objectives,
Nigeria defined its AfCFTA mission to capture 10% of Africa’s global imports and double her export
revenue by 2035.
Goals:
The strategy to achieve the AfCFTA mission is anchored on eight pillars. These pillars and their
associated goals are as follows:
- Pillar One: Productive Capacity: To grow our capacity to produce and export competitively to Africa, focusing on specific value chains.
- Pillar Two: Trade Facilitation: Become best in class in Africa in terms of time and cost of intra-Africa trade transactions, through effective trade facilitation measures
- Pillar Three: Trade Policy: Mainstream AfCFTA in Nigeria's trade policy framework to facilitate access to African markets for Nigerian products, services and investments, incentivise exports while safeguarding our intellectual assets, businesses and economy from unfair trade practices
- Pillar Four – Trade Related Infrastructure: Leverage innovative means to facilitate the provision of critical energy, logistics and digital infrastructure for industrialisation and trade.
- Pillar Five – Trade Finance: Facilitate access to funds and financial instruments and pursue the harmonization of regional regulatory and risk management frameworks to broaden financial opportunities that enable cross-border trade and investment across the continent.
- Pillar Six – Trade Information:Bridge the gap in trade information which has stymied yield or value to businesses across the production and trade lifecycle
- Pillar Seven – Factor Market Integration:Focus on improving the mobility of Nigerian natural, corporate persons and skills across Africa