For Nigeria to reap maximum benefits from the African Continental Free Trade Area (AfCFTA) agreement, the Manufacturers Association of Nigeria (MAN) has identified the ability of local manufacturers to compete around the continent as key to gaining market access under the deal.
Though AfCFTA has not fully taken off, the Guided Trade Initiative (GTI) under the trade deal has commenced with the participation of a few countries, excluding Nigeria that is just about to sign off for the guided trade.
GTI was launched in September 2022 to matchmake businesses and products for export and import between interested state parties that have met the minimum requirements for trade under AfCFTA
Nigerian manufacturers have consistently lamented over various factors that have constrained the competitiveness of the sector, warning that without tackling them the country will be at a disadvantage under the continental trade deal.
Director-General of MAN, Mr. Segun Ajayi-Kadir, said that the manufacturing sector has not had the microeconomic and infrastructure support needed for growth and the ability to compete.
He stated: “The manufacturing sector is already beset with multidimensional challenges.
“We now have AfCFTA that gives us the opportunity to compete around the African continent. But if we are not competitive, and we cannot grow the sector within the country, your guess is as good as mine as to the millage in terms of market access that we should be able to enjoy.
“So, I believe the manufacturing sector has good growth prospects, but it needs supportive policies that would aid it’s growth in all ramifications.
“What local manufacturers are yearning for are supportive policies that will aid the growth and competitive capacity of the country’s industrial sector in all ramifications,” he added.
In her comment, Chairman of Manufacturers Association of Nigeria’s Export Promotion Group (MANEG), Mrs. Odiri Erewa-Meggison, said:
