Nigeria Set To Harness Opportunities in AfCFTA $500 Billion Worth Of Economic

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By Niyi Jacobs, Editor

The African Continental Free Trade Area (AfCFTA) could deliver an additional $500 billion worth of economic growth to Africa, a tremendous opportunity for Nigeria to generate jobs and boost foreign exchange earnings.

But more export-oriented and more industrialised African economies like Morocco, South Africa and Kenya also pose a big threat to Nigerian firms and jobs. While Nigeria’s exports consist overwhelmingly of oil (87%), Morocco’s top five exports are Electrical machinery and equipment (18.1%), Vehicles (13%), Fertilizers (9.9%), Clothing accessories (8.3%) and Inorganic chemicals (4.9%), complemented by agriculture exports.

The event will be an interactive conversation between policy makers, exporting conglomerates, SMEs and financiers and investors in infrastructure with a view to generating ideas on new ways to build, finance and maintain export-critical infrastructure. It will underscore the potential of infrastructure related policy reforms to diversify and boost Nigeria’s exports.

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Attendees have the opportunity to send questions to the panelists ahead of the event about a range of topics related to the AfCFTA and how soft and hard export-related infrastructure affect Nigeria’s capacity for local, continental and global trade.

The Keynote Speaker will be Emmanuel Assiak, Acting CEO of the Fund for Export Development in Africa (FEDA). FEDA was established by the African Export–Import Bank (Afreximbank) to facilitate foreign direct investment flows into Africa’s trade and export sectors through the provision of equity financing.

Other speakers include Olusegun Awolowo, CEO, Nigeria Export Promotion Commission, Tariye Gbadegesin, CEO ARM Harith, an infrastructure investment company, Yewande Sadiku, Executive Secretary, Nigerian Investment Promotion Commission, Andrew Nevin, Chief Economist, PWC Nigeria and Ade Adefeko, Vice President Olam International and Chairman, NACCIMA.

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