Just as the Africa Continental Free Trade Area (AfCFTA) Treaty comes into force January 2021, Nigerian businesses and the entire private sector have to become conversant and knowledgeable with the rules as this would be required so as to benefit maximally from the treaty.
Prof. Osinbajo stated this Thursday at the opening session of the 52nd Annual National Conference of the Chartered Institute of Personnel Management (CIPM) themed: “Nigeria and Manpower Preparedness for the African Continental Free Trade Area.”
According to him, “it is imperative for Nigerian businesses to also familiarize themselves with AfCFTA rules because they will have to assist in providing the evidence to trigger action on trade remedies by government.”
Stressing the importance of capacity building in understanding the operationalization of the AfCFTA, the Vice President noted that “building productive capacity is only the first step. The ability of our businesses and entrepreneurs to integrate successfully into the opportunities of the AfCFTA also depends a great deal on strengthening our domestic ability to facilitate trade.”