Sunday October 2, 2022

President Muhammadu Buhari has decried the low level of trade among African Countries, as he commended African Continental Free Trade Area ( AFCFTA ) for demonstrating innovative thinking by taking the AFCFTA to the grassroots.

The President said AFCFTA would succeed if African government demonstrates a higher level of commitment to tackle the slow pace of physical cooperation and tariff barriers that inhibit business integration.

He made this declaration, while declaring open the 2nd African Sub-Sovereign Government Network Conference organized by Nigeria Governors’Forum in conjunction with Afrexim Bank, held at Banquets Hall, Presidential Villa, Abuja on Friday.

The President acknowledged that the initiative spearheaded by Afreximbank was aimed at firmly establishing and deepening intra-continental trade and investment development frontier for Africa, facilitating the reduction in the continent’s dependence on exports of primary commodities as well as minimizing the risk experienced due to strong reduction in global value chain.

In their separate messages at the event, Ekiti State Governor, Dr Kayode Fayemi, Minister of Industry, Trade and Investment, Adeniyi Adebayo and Chairman of the Board of Directors, Afreximbank, Prof Benedict Oramah welcomed the need for deliberate action to remedy the continued reliance of Africa on external trade partners, nothing that, the AFCFTA provides the platform to do that.

Representing Ondo State Governor, Arakunrin Oluwarotimi Akeredolu SAN at the conference was his Deputy, Hon Lucky Aiyedatiwa.