Chairman and Minister of Trade, Industry and Investment, Otunba Adeniyi Adebayo and Governor Babajide Sanwo-Olu
The Lagos State Government says it will collaborate with the National Action Committee on African Continental Free Trade Area Agreement, AfCFTA to boost local businesses and strengthen Nigeria’s position in the continent.
AfCFTA is a multilateral agreement to create a single market by facilitating free movement of goods, services and investment within the African continent.
Governor Babajide Sanwo-Olu stated this when he received members of the Committee led by its Chairman and Minister of Trade, Industry and Investment, Otunba Adeniyi Adebayo at the Lagos House, Ikeja.
With a large population, Governor Sanwo-Olu said the state was a ready market, and as a sub-national player, Lagos would take advantage of the Intra- African Trade for growth.
Earlier, the Chairman Otunba Adeniyi Adebayo said the committee has begun a nationwide sensitisation on the benefits of the free trade agreement among African countries.
Though AfCFTA became effective on May 30, 2019, President Muhammadu Buhari signed the agreement on July 7, 2019, while the Federal Executive Council ratified Nigeria’s position on November 11, last year (2020).