By Waziri Isa Adam (Group Editor-in-chief)
A renowned Law expert, Professor Muhammed Tawfiq Ladan, has identified and commended strategic interventions by key ministers in driving the successful implementation of the African Continental Free Trade Area (AfCFTA) Agreement in Nigeria.
The Minister of Finance has committed to establishing the AfCFTA Agreement Implementation Fund, allocating 3% from agreed sources. This fund will facilitate the implementation of the agreement. Additionally, the Single Window Programme flagged off by the Minister of Finance will introduce a Single Window Flag Off aimed at simplifying regulatory processes, facilitating cross-border trade and ease of doing business.
The Attorney General/Minister of Justice has ensured compliance with Nigeria’s treaty obligations by integrating the AfCFTA Agreement into the revised National Policy on Justice (2024-2029). The policy, awaiting final approval by December, demonstrates the minister’s express commitment to ensuring Nigeria’s compliance with its treaty obligations.
The Minister of Women Affairs has mainstreamed strategic stakeholder engagement on the AfCFTA Protocol on women and youth in trade. This move will benefit women traders, producers, and entrepreneurs.
Furthermore, the Minister of Trade, Investment, and Industry has fast-tracked action plans for national policies on trade, investment, and Intellectual Property Rights. This ensures high-impact ministerial deliverables.
Professor Ladan commended these interventions, stating that they demonstrate the ministers’ commitment to implementing the AfCFTA agreement. The agreement comprises eight protocols, benefiting all Nigerians and cross-border trade and investment in Africa.
He noted that these initial strategic interventions by the ministers clearly demonstrate their commitment to the successful implementation of the AfCFTA Agreement with its eight protocols for the benefit of all Nigerians and cross-border trade and investment in Africa.
However, experts caution that other ministers must align their strategic action plans with Nigeria’s AfCFTA obligations. These obligations include trade in goods and services, investment, competition, intellectual property rights, digital trade, women and youth in trade, and dispute settlement mechanisms.
Effective implementation requires a coordinated approach from all stakeholders. Nigeria’s progress in AfCFTA implementation is commendable, but sustained effort is necessary to reap the agreement’s benefits.
As Nigeria moves forward with AfCFTA implementation, Professor Ladan urges stakeholders to remain vigilant and committed to ensuring the country maximizes the agreement’s opportunities.
