FG validates audit report for AfCFTA takeoff

The federal government yesterday in Abuja validated the audit report for the priority sectors under the Africa Continental Free Trade Area (AfCFTA).

Daily Trust reports that the federal executive council in November 2020 ratified the membership of Nigeria in the AfCFTA and subsequently adopted the template for implementation in March this year 

Speaking at the event, the Chief trade negotiator and Director General of the Nigeria Office for Trade Negotiations, Amb. Yonov Agah, said the audit ratification became necessary as Nigeria prepares for the final implementation of the agreement.

“The meeting, which has stakeholders in the business, legal, and other priority sectors, is crucial for us to sit and ratify the audit report on these priority areas

“This ministerial assignment is critical owing to the fact that the federal government and Nigeria as a whole stand hugely to benefit from the agreement once it is fully implemented. We are expected to revisit the key sectors and find which we should impose restrictions on and the ones we should maintain status quo,” he said.

Agah added that Nigeria is fully committed to the implementation of the agreement but will however ensure that grey areas are addressed especially in terms of cross-border trade and taking into account the commercial implications.