Tinubu Launches Guided Trade Initiative to Unlock Intra-African Trade Potential Under AfCFTA
President Bola Ahmed Tinubu on Tuesday launched the Guided Trade Initiative (GTI) marking a significant milestone in Nigeria’s obligation to the African Continental Free Trade Area (AfCFTA).
The launch ceremony which was held at the Lagos Port Complex Apapa, witnessed the first shipment of Nigerian exports destined for five African countries.
Tinubu, represented by Secretary to the Federal Government Senator George Akume, highlighted the importance of AfCFTA in building Africa’s industrialisation and prosperity.
The president said “Today, we embark on a journey that will ignite the flame of opportunity, foster economic ties, and pave the way for progress and shared prosperity for our great nation and the entire African continent.”
On his part, the National Coordinator of Nigeria’s AfCFTA Office, Olusegun Awolowo restated that trade is the only sustainable path to prosperity.
Awolowo acknowledged that Nigeria has fulfilled all requirements for the Guided Trade Initiative and symbolically flagged off trade under the preferential trading arrangement with the shipment of containers from Apapa ports.
The initial exports which are to be shipped to Cameroon, Kenya, Algeria, Uganda, and Egypt, include various products such as bags, black soap, cables, ceramics, clinkers, native starch, shea butter, smart cards, and textiles.
Awolowo explained that the launch marks a transition from planning to actively enabling businesses to trade and succeed under AfCFTA, signalling a new era of trade and prosperity for Nigeria.
The journey to this significant milestone involved wide-ranging stakeholder engagements and collaboration between the public and private sectors to develop a vision and framework for Nigeria’s participation in AfCFTA, as well as ensuring the success of businesses trading under the agreement.
