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Reading: Federal Government urges strategic partnerships to bolster AfCFTA implementation
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Federal Government urges strategic partnerships to bolster AfCFTA implementation

Osondu Nwachukwu
Last updated: 2024/06/20 at 5:39 PM
Osondu Nwachukwu
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Federal Government urges strategic partnerships to bolster AfCFTA implementation
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The Federal Government has called on participants of the 30th African Organization for Standardization (ARSO) General Assembly, currently hosted by the Standards Organization of Nigeria (SON) in Abuja, to leverage the event to foster political commitment and form strategic partnerships. 

The initiative aims to expedite the implementation of the African Continental Free Trade Area (AfCFTA) and advance the African Union’s 2024 Year of Education initiative under the Continental Education Strategy for Africa (CESA) 2016-2025.

Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, delivered the call to action in her opening address at the event themed “Educate an African Fit for the 21st Century – Building a Quality Culture – One Market, One Standard.”

Dr. Uzoka-Anite emphasized the critical role of understanding standards and standards-related issues in effective policy-making, especially in an era increasingly dominated by artificial intelligence and rapid development. 

She stressed that collaboration among African nations and ARSO member states is vital for the successful implementation of the AfCFTA Agreement, particularly in establishing a Common Regulatory Framework.

Highlighting the transformative potential of the AfCFTA, Uzoka-Anite noted that it could increase intra-African trade by up to $35 billion annually, enhance agricultural and industrial exports, and significantly boost GDP and consumer spending. 

However, she acknowledged that several obstacles, such as weak productive capacities and high trade costs, have hindered intra-African trade.

“Distinguished delegates, it may also interest you to know that AfCFTA could stimulate intra-African trade by up to $35 billion per year, boost agriculture and industrial exports by up to $4 billion (7%) and $21 billion (5%) respectively, and stimulate a GDP rise from $1.7 trillion (2010) to $2.6 trillion (2020), thereby increasing consumer spending from $860 billion (2010) to $1.4 trillion (2020), potentially lifting millions out of poverty,” she said, citing a McKinsey report.

The minister stressed the importance of developing Africa’s regional value chains and enhancing the competitiveness of Made-in-Africa products. 

She also highlighted the need for export-oriented manufacturing, value addition, and quality infrastructure to promote intra-African trade and industrialization.

Dr Uzoka-Anite reaffirmed the ministry’s dedication to repositioning Nigeria’s economy for sustainable growth, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda. 

She underscored the pivotal role of standardization in achieving this vision, stating, “To realize this vision, we must embrace standardization as standards set good international best practices in every sector of life, which, if strictly adhered to, could promote productivity, trade, and ensure predictability, transparency, openness, and serve as a basis for technical regulations.”

Supporting the minister’s remarks, Dr Ifeanyi Okeke, Director-General of SON, highlighted the Nigerian administration’s comprehensive educational roadmap, which focuses on increasing access to quality education, improving infrastructure, and investing in teachers. 

He noted that standardization fosters a quality culture that ensures products and services meet international benchmarks, enhances competitiveness, and facilitates trade.

Dr. Okeke urged the Assembly to recommit to the CESA 2016-2025 strategy, addressing educational deficits with innovative approaches and available technologies.

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Posted by Osondu Nwachukwu
Osodu Nwachukwu is a journalist with nearly a decade of experience in the field. He began his career as a reporter for an evening newspaper before moving on to cover regional news for a larger publication. During his time there, he covered a wide range of stories including the 2015 and 2019 presidential elections. Osondu is a graduate of the Nigerian Institute of Journalism and holds a Post Graduate Diploma from the International Institute of Journalism. In his free time, he enjoys volunteering with organizations that support people with disabilities. Contact: Osondu.Nwachukwu [at] news.ng
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