• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

      Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Reaffirms Non-Interference in ICPC, EFCC Operations

      ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

  • Fact-Check
  • Economy
    • FG, States, LGs Share N2.225trn Revenue for August – FAAC

      Nigeria Customs Aligns with Finance Ministry over 4% FOB Policy Review

      Members Board of Directors of Dangote Refinery

      Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel…

      Renewed Hope in Central Banking

      Book Review: Renewed Hope in Central Banking – A Blueprint for…

      NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

  • National
    • Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

      NAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in Borno

      FG, States, LGs Share N2.225trn Revenue for August – FAAC

      Tinubu Lifts State of Emergency in Rivers, Reinstates Fubara, Legislators

      Crowned Prince Salman of Saudi Arabia

      Saudi Frees Nigerian Pilgrims Framed by Drug Syndicate

    • Government
      • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security…

        Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

        Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

        FG, States, LGs Share N2.225trn Revenue for August – FAAC

        ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

  • Security
    • NDLEA Logo

      NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in…

      Police Officer

      Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms

      Troops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover Weapons

      NAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in Borno

      ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

  • Features
    • Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

      Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

      A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity By Senator Iroegbu

      A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity

      Engr. Suleiman Bolakale Kawu Agaka

      Engr. Kawu: A Heroic Homecoming for a Man of the People…

  • State
    • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security…

      NDLEA Logo

      NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in…

      Police Officer

      Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms

      Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

      ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

  • Event
    • Chairman NAHCON Professor Abdullahi Saleh Usman meets with Katsina State Governor Dikko Radda

      NAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments,…

      Flier for the programs that happened for the elderly by members of BUKAA FCT

      BUKAA FCT Appreciates Sponsors after Aerobics, Football Exercises

      Prof. Abubakar Mu’azu

      UNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of Communication

      NIPR President Ike Neliaku

      NIPR Inducts 422 New Members, Urges Commitment to National Unity

      Baze University Management visits TETFUND, Showcases Tech-Driven Growth, National Impact

    • PR Nigeria Award
  • E-Paper
Home Government How Private Sector Businesses Should Tap into AFCTA Treaty-  VP Osinbajo
  • Government

How Private Sector Businesses Should Tap into AFCTA Treaty-  VP Osinbajo

By
Laolu Akande
-
November 27, 2020
Yemi OSINBAJO
Yemi OSINBAJO
How Private Sector Businesses Should Tap into AFCTA Treaty-  VP Osinbajo
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.”
In his words: “Our logistics chains, port processes, and customs procedures must be dynamic and efficient and it is obvious that the capacities of the operators and workers in these areas need to be rapidly upscaled through training including on the use of technologies.
“This is why we are paying particular attention to the rapid implementation of the National Single Window project which we expect to radically improve trade facilitation..
“Given the size of our economy, it is also clear that Nigeria must play a leading role in the harmonization and integration of border management, regulatory cooperation, and the formalization of informal cross-border trade in the continent. These actions are necessary to assist and support our MSMEs to be able to make use of the opportunities afforded us by the AfCFTA.”
The Vice President said in order to be able to measure the impact of AfCFTA on the economy including providing evidence on its benefits or on unfair trade practices, “it is clear that we must strengthen domestic capacity to produce, disseminate and use reliable trade statistics. This is important not only for monitoring progress but also for establishing safety nets as we implement the AfCFTA.”
Speaking on the Federal Government’s efforts to ensure that Nigeria benefits maximally from the policy, the Vice President said “the creation of the Nigerian Office for Trade Negotiation (NOTN) was a deliberate decision by this Government to change our approach to trade negotiations by ensuring that our participation is underpinned by top-class technical knowledge and adequate preparations.”
Explaining further, Prof. Osinbajo stated that “it is imperative that Nigeria continues to lead on AfCFTA negotiations as we move into the second phase that will focus on intellectual property, competition policy and investment policy.
“This will require the scaling up of our official negotiating capacities and the private sector must support this process by bringing its interests, concerns, and understanding of the practical dynamics of international trade to the attention of government and by paying close attention to the negotiation process.”
The Vice President assured that aside prioritizing trade negotiations, the Buhari administration is also paying attention to the agreement on free movement of persons.
He said that “for Nigeria, this protocol on free movement of persons is crucial, we have comparative advantage in very skilled and competent personnel and these opportunities cannot be realized without the protocols being passed.”
The 3-day conference will feature presentations by the Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan; the Chief Executive of the Chartered Institute of Personnel Development, Mr Peter Cheese; President of the Institution of Occupational Safety and Health (IOSH), Mr James Quinn, among others.
Laolu  Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • AFCTA Treaty
  • osinbajo
  • Private Sector
Previous articleOsinbajo Urges Huawei to Provide  Tech Jobs for Nigeria Youths 
Next article65 Military, FRSC, EFCC Officers Inducted as Army War College Fellows
Laolu Akande
Laolu Akande
Xing

RELATED ARTICLESMORE FROM AUTHOR

Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security Votes

Kano’s Corruption Storm: A Test of Media Ethics and Public Relations By Umar Babangida

Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

NAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in Borno

FG, States, LGs Share N2.225trn Revenue for August – FAAC

ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

Chairman NAHCON Professor Abdullahi Saleh Usman meets with Katsina State Governor Dikko Radda

NAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments, Promises Easier Exercise

Tinubu Lifts State of Emergency in Rivers, Reinstates Fubara, Legislators

MURIC to Alaafin: No Law Grants You Power to Appoint Chief Imam of Oyo

President Bola Ahmed Tinubu and Minister of Women Affairs Imaan Sulaiman-Ibrahim presenting a cheque to women

Renewed Hope Agenda: Group Passes Vote Of Confidence On Tinubu’s Minister, Imaan Sulaiman-Ibrahim

Court Reaffirms ICPC’s Power on Investigation of Kano Scholarship Funds

Engr. Suleiman Bolakale Kawu Agaka

Engr. Kawu: A Heroic Homecoming for a Man of the People By Adegboyega Ajadi

Recent Posts

  • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security Votes
  • NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in Kano
  • Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms
  • Kano’s Corruption Storm: A Test of Media Ethics and Public Relations By Umar Babangida
  • Troops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover Weapons
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security VotesNDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in KanoImo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover ArmsKano’s Corruption Storm: A Test of Media Ethics and Public Relations By Umar BabangidaTroops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover WeaponsSowore vs DSS: Free Speech or Defamation? By Mohammed Bego AbdullahiNAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in BornoFG, States, LGs Share N2.225trn Revenue for August – FAACICPC Secures Six-Year Jail Term for Sokoto River Basin DirectorNAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments, Promises Easier ExerciseKaduna Police Arrest Two Suspects Over Illegal Possession of FirearmsTinubu Lifts State of Emergency in Rivers, Reinstates Fubara, LegislatorsBadaru Joins Global Leaders at Beijing Forum on Peace, SecuritySaudi Frees Nigerian Pilgrims Framed by Drug SyndicateTroops Ambush Bandits in Plateau, Neutralise One 
X whatsapp