By Oluyinka Onigbinde
Despite assurances, investigations by Shipping Position Daily indicate that Nigeria has once again missed the October target that was set by the National Action Committee (NAC) for the country to commence trading in the African Continental Free Trade Area (AfCFTA) in Nigeria
According to the NAC, the nation is awaiting the official launch date for the second phase of the Guided Trade Initiative from the Accra, Ghana–based AfCFTA Secretariat.
Countries that have already started trading as at August are: Rwanda, Cameroon, Egypt, Ghana, Kenya, Mauritius, Tanzania and Tunisia.
Shipping Position Daily recalls that Nigeria had earlier missed the August 2023 trading date.
Because of the miss, the NAC had assured our correspondent that the new date for the launch of the Second Phase of GTI would be October 2023, stating that this aligns with Nigeria’s efforts to ensure that all necessary requirements and obligations are fulfilled before participating in the second phase of GTI.
But, in a latest response sent to our correspondent by the NAC for AfCFTA in Nigeria, the committee disclosed that Nigeria is only waiting for the AfCFTA Secretariat in Ghana to announce a date for commencement, stating that Nigeria is on the verge of joining the second phase of the Guided Trade Initiative.
Giving an indication that October 2023 is no longer sacrosanct, the NAC informed our correspondent that, having received the checklist as a requirement for State Parties to join the GTI, Nigeria has actively met seven out of the eight requirements, even though state parties are required to meet all eight requirements.
The committee however noted that the outstanding checklist requirement is the gazetting of Nigeria’s schedule of tariff concessions or tariff offers.
It confirmed that the gazetting process is ongoing, and Nigeria has at the same time identified businesses that have shown keen interest in trading under the GTI, which is allowed in parallel with gazetting.
The NAC stated that, in view of this, the National Action Committee (NAC), working within its mandate and in active collaboration with critical institutions such as the Nigeria Customs Service, Federal Ministry of Industry, Trade and Investment, Manufacturer Association of Nigeria (MAN), Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), and Nigerian Export Promotion Council (NEPC), have carried out Rule of Origin (RoO) inspections under the AfCFTA on interested businesses who are now getting ready to be issued Certificates of Origin and trade under the GTI.
It confirmed that the date for the actual launch of the second phase of the GTI has not been concluded by the Ghana AfCFTA Secretariat, but added that it is evident that Nigeria is on the verge of joining the GTI.
The memo reads, “The AfCFTA Guided Trade Initiative (GTI) was launched by the AfCFTA Secretariat in October 2022 with the goal to trigger meaningful commercial trading under the AfCFTA. Sequel to the first phase and maiden launch of the GTI, Nigeria indicated interest in joining the second phase. The AfCFTA Secretariat Mission was in Nigeria on the 17th to meet with the Nigeria AfCFTA Coordination Office to assess Nigeria’s readiness and on the 18th of August 2023 to meet with business leaders and sensitize stakeholders.
“State parties are required to meet eight checklist requirements. Having received the checklist as a requirement for State Parties to join the GTI, Nigeria has actively met seven out of the eight requirements. The outstanding checklist requirement is the Gazetting of Nigeria’s schedule of tariffs or tariff offers. The gazetting process is ongoing, and Nigeria has at the same time identified businesses that have shown keen interest in trading under the GTI, which is allowed in parallel with gazetting.
In view of this, the National Action Committee (NAC), working within its mandate and in active collaboration with the following critical institutions: Nigeria Customs Service, Federal Ministry of Industry, Trade and Investment, Manufacturer Association of Nigeria (MAN), Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), and Nigerian Export Promotion Council (NEPC), have carried out Rule of Origin (RoO) inspections under the AfCFTA on interested businesses who are now getting ready to be issued Certificates of Origin and trade under the GTI. While the date for the actual launch of the second phase of the GTI has not been concluded by the Ghana AfCFTA Secretariat, it is evident that Nigeria is on the verge of joining the GTI”.
It added that, “Nigeria’s commitment to regional economic integration is a testament to the diligent efforts of the Secretariat of the Nigeria AfCFTA Coordination Office, led by Mr. Olusegun Awolowo, to ensure that Nigeria and its people can fully benefit from the AfCFTA trade regime.”
