On Wednesday, the Lagos State government, through its commissioner for Commerce, Industry and Cooperatives, Dr. (Mrs) Lola Akande, informed its residents that in order to domesticate the African Continental Free Trade Agreement (AFCFTA) in the state, a Technical Working Group has been inaugurated. The group was launched same day in the government district of the state’s capital, Alausa, Ikeja
Mrs. Akande stated: “There is a need for members of the group to quickly and effectively commence the domestication of the trade agreement. With all such agreements, AfCFTA, with no exception, will have both positive and negative effects and create both winners and losers.
“The group has the responsibilities to organise and monitor state programmes and initiatives on trade; support implementing agencies and value chain players to identify and facilitate appropriate funding sources for the project; facilitate and harmonise state-related plans and projects among government Ministries, Departments and Agencies, among others.”
Abiola Olowu, the Special Adviser to the Governor on Commerce, Industry, and Cooperatives, remarked that the new trade agreement will make it easier to promote Nigerian goods; because it is in line with the theme agenda of Governor Babajide Sanwo-Olu’s government.
Dr. Chinyere Almona, the Director-General of the Lagos Chamber of Commerce and Industry, stated: “AfCFTA will add benefits to Nigeria and Africa as it will help address poverty and increase integration of Micro and Small Medium Enterprises into Africa’s economy.”
