AfCFTA will grant Nigerian businesses access to N1.2bn people in Africa, says Onu

The Minister of Science and Technology, Dr Ogbonnaya Onu, has said the African Continental Free Trade Area (AfCFTA) agreement will grant Nigerian businesses access to over 1.2 billion people across the continent.

He said the Federal Government has also approved the guidelines for the implementation of the Executive Order 5, which places Nigerian professionals at the centre of economic and social development of the country.

He noted that the Executive Order 5 is a right step in the right direction in repositioning Nigeria’s economic fortunes.

Onu said this when he received the Association of Computer Village Technology Merchants of Nigeria in his office on Friday, in Abuja.

“With the recent African Continental Free Trade Area (AfCFTA) agreement, Nigerian businesses have access to not just 200 million Nigerians, but 1.2 billion people in Africa. Nigeria needs to be a global superpower,” Onu said.

The minister assured the association of the ministry’s partnership, saying the collaboration between them would increase Nigeria’s Gross Domestic Product (GDP).

He said that the ministry is committed to supporting Nigerians who make meaningful contributions to the development of science, technology and innovation, noting that, “the partnership with the association will create wealth, significantly reduce unemployment, reduce crime and increase revenue for the government.”

Earlier, the President of the Association of Computer Village Technology Merchants of Nigeria, Prince Tony Nwakeze, said his association wants to collaborate with the ministry in creating an enabling environment.

He said that the enabling environment requested includes reduced import tariffs, financial grants, training and the establishment of a technology hub to facilitate their activities.

Nwakeze stated that his association has created employment for over 5 million youths and has positively impacted the economy of the country by enhancing internally generated revenue (IGR).