AfCFTA: FG inaugurates trade facilitation c’ttee

The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, yesterday in Abuja inaugurated the National Trade Facilitation Committee (NFTC) with the mandate to enhance seamless trade in and out of the country ahead of the implementation of the African Continental Free Trade Area Agreement (AfCFTA). The minister said the NTFC had made significant strides, especially […]

The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, yesterday in Abuja inaugurated the National Trade Facilitation Committee (NFTC) with the mandate to enhance seamless trade in and out of the country ahead of the implementation of the African Continental Free Trade Area Agreement (AfCFTA).

The minister said the NTFC had made significant strides, especially with respect to the development and review of the National Trade Facilitation Roadmap.

She said, “Subsequently, the document provides a framework for a National Trade Facilitation Reform Programme over a five-year period, aligning its activities with current realities.

“Equally important is the need to sustain the reforms that have improved Nigeria’s ranking in the World Bank’s ease of doing business index since the establishment of the Presidential Enabling Business Environment Council (PEBEC) in June, 2016.

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“These reforms aim to reduce the average import and export border compliance time, total average import and export cost, and the average number of required trade documents for imports and exports.”

The minister noted that the Nigerian government, recognising the significant impact of NTFC in domestic and international trade activities over the years decided to utilise it as the National Monitoring Committee on Non-Tariff Barriers (NTB) as the decision aimed to address trade barriers in Nigeria.

Also speaking, the Comptroller General of Customs, Adewale Adeniyi, emphasised the importance of trade facilitation in enhancing economic growth and competitiveness.