AFCFTA: Nigeria must raise production to compete – Minister

The Minister of Trade and Investment, Otunba Niyi Adebayo, has said that Nigeria can only have a fair competition in the African Continent Free Trade Area (AfCFTA) if production of made-in-Nigeria goods is scaled up. Speaking at the 2021 Made-in-Nigeria Exhibition organised by the Manufacturers Association of Nigeria (MAN), the minister noted that production capacity, […]

The Minister of Trade and Investment, Otunba Niyi Adebayo, has said that Nigeria can only have a fair competition in the African Continent Free Trade Area (AfCFTA) if production of made-in-Nigeria goods is scaled up.

Speaking at the 2021 Made-in-Nigeria Exhibition organised by the Manufacturers Association of Nigeria (MAN), the minister noted that production capacity, in the secondary and tertiary phases of production is important for the products to thrive in the African market.

While emphasising that the products are necessary to drive Nigeria’s prosperity, Adebayo noted that Nigerian products and services must first have preference in local markets. 

He said that the conference would help entrepreneurs promote their products as well as show their resilience, hard work and innovation.

He assured participants of the ministry’s support, stating that the Nigeria Export Promotion Council (NEPC) was established to provide market access through its programs and initiatives.

“Our Export Development Fund for example has provided exporters with financial assistance to cover a wide range of activities from training, to advertising and marketing in foreign markets to supporting MSMEs with pre-shipment quarantine issues.” 

In his address, the President of MAN, Engr. Mansur Ahmed, said the event was to showcase the capacity of the manufacturing sector and to fulfill the vision of President Muhammadu Buhari for a self-reliant economy.