The Ag. National Coordinator of the Nigeria AfCFTA Coordination Office, Dr. Olusegun Olutayo, has emphasized the critical role of the African Continental Free Trade Area (AfCFTA) in achieving Nigeria’s goal of a $1 trillion economy by 2030—a key pillar of the Renewed Hope Agenda under President Bola Ahmed Tinubu’s administration.
Dr. Olutayo stated that more than 80% of the anticipated economic expansion is expected to be driven by private sector investment, with the vast continental market offered by AfCFTA serving as a catalyst to accelerate this ambitious target.
He made these remarks in Abuja during a capacity-building programme for legislators, parliamentary staff, and legislative support staff.
The event, theme “The Role of Lawmakers in the National Implementation of the AfCFTA Agreement and its Eight (8) Associated Protocols” was organized by the National Institute for Legislative and Democratic Studies (NILDS) in collaboration with the United Nations Economic Commission for Africa (UNECA).
According to Dr. Olutayo, “Nigeria’s participation in AfCFTA presents both an opportunity and a responsibility. As Africa’s largest economy, Nigeria’s resilient micro, small, and medium-sized enterprises, alongside its larger corporations, are well-positioned to drive the $1 trillion economic agenda.”
He said: “Nigeria AfCFTA Coordination Office recognizing the hallmark of implementation, have actively pursued its objective focus of implementation from inception to translate the benefits of the AfCFTA into tangible reality for Nigerians and its economy.
Dr. Olutayo further noted that the successful participation of Nigeria in the Guided Trade Initiative/framework, trade facilitation through flagship training in the understanding and application of the AfCFTA Rules of Origin, maximizing the opportunities around the AfCFTA Digital Trade Protocol through the AfCFTA Hackathon etc.
“I acknowledge and thank the leadership of His Excellency, President Bola Ahmed Tinubu, GCFR and the Renewed Hope Agenda in the attainment of these milestones,” Dr. Olutayo stated.
In his remarks, the President of the Senate, Godswill Akpabio, represented by Senator Ibrahim Khalid, asserted that Nigeria—by virtue of its size, economy, intellectual capital, and indomitable spirit—cannot afford to be a spectator in the AfCFTA process.
“We are not fashioned by history to linger at the margins. We are summoned to lead. In this solemn duty, the National Assembly stands at the very center. For what is the legislature, if not the guardian of sovereignty, the architect of laws, and the sentinel of national interest?” he stated.
Senator Akpabio assured stakeholders of the National Assembly’s readiness to align international commitments with Nigeria’s domestic priorities, with a view to accelerating development and enhancing the welfare of citizens.
The Speaker of the House of Representatives, Hon. Tajudeen Abbas, described AfCFTA as a transformative opportunity to expand intra-African trade, deepen industrialization, and create sustainable jobs.
Represented by Hon. Rabiu Yusuf, the Speaker noted that the true measure of AfCFTA’s success lies in effective and coordinated implementation at the national level. He stressed the need to harmonize national laws with AfCFTA provisions and assured participants of legislative support to advance trade facilitation.
Earlier in his opening remarks, the Director General of NILDS, Professor Abubakar Sulaiman, described the capacity-building programme as timely, aimed at deepening lawmakers’ understanding of their role in the implementation of the AfCFTA agreement.