The commencement of trading under the African Continental Free Trade Agreement (AfCFTA) on the 1st of January 2021 is a milestone achievement in boosting Africa’s economy amidst the challenges of the coronavirus (COVID-19) pandemic and global economic challenges, says Edo State Governor, Mr. Godwin Obaseki.
He said this is a time for manufacturers and Nigeria’s industrious youths to exploit the opportunities offered by the Africa Continental Free Trade Agreement (AfCFTA) to create wealth and boost the country’s economy.
The AfCFTA gives investors access to the African continent covering an area worth over US$3 trillion in GDP and eliminates tariffs on 90% of goods traded across the continent.
Speaking further, the Governor said his administration will continue to assist local manufacturers and youths in the state with capacity building programmes, conducive work environment and other incentives to make them competitive and position them to reap maximum benefits from trading under the AfCFTA.
“We are expanding capacity at the Edo Production Centre and the Edo Innovation Hub so that we can build an army of productive young people to grab the opportunities offered. We have success stories from these facilities already.
“Also, we have already initiated the Edo Tech Park project as another veritable launch pad. We are confident that these initiatives would empower our people to create wealth and employment opportunities to improve the state’s Gross Domestic Product (GDP)”, Obaseki said.