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Stakeholders in the maritime industry recently in Apapa, Lagos, grieved that despite the tremendous opportunity offered by the African Continent Free Trade Agreement (AfCFTA) the country is ill-prepared to accept it.
The stakeholders made their views known at a Roundtable discussion on “African Continental Free Trade Agreement: How Ready Are Maritime Stakeholders to key Into the Concept?” organised by the Maritime Journalists’ Association of Nigeria (MAJAN).
While applauding MAJAN, for taking the initiative to hold a roundtable discussion on AfCFTA, they called on regulatory agencies, stakeholders and corporate organisations in the maritime Industry’ to give the association adequate support to continue in its enlightenment programme.
The Guest Speaker Managing Director/CEO Mr Emeka Enwelu of Mac-Manuel Global Logistics stressed the importance of the awareness creation initiative of MAJAN.
“I’m really impressed by the level of reportage and enlightenment MAJAN is giving the Industry. It is unique in the Maritime Sector.
“I commend your President Comrade Ray Ogochukwu for his leadership quality. Stakeholders are very happy with what MAJAN is doing in the maritime industry. We received your Communique on the programme you did recently on Apapa traffic gridlock and its toll on businesses. Only last week, we saw another programme you did on Investigative Journalism, and today, you are discussing AfCFTA; your effort is highly Commended,he said.
On the readiness of maritime stakeholders to key into AfCFTA concept. The MD Mac-Manuel Global Logistics explained, that he believes the government is not ready because of the level of enlightenment in the Country.
“Government has not done much in educating those concerned about this concept. Look at an important sector like maritime, nobody has reached out to licensed customs agents and other industry players.
“Government signed AfCFTA when our land borders were still closed. It shows that we are not prepared. We
just entered into an important trade agreement without adequate preparation.
“The only things we have are the large market and population”
Enwelu, who is also the National Vice President, National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) is amazing why such a huge continental business deal should be hidden in secrecy, noting that it “ought to have been on the lips of everybody just like Covid-19 is”.
Registrar, NAGAFF Academy, Fwdr Francis Omotosho, the Guest lecturer on his part, said that the Agreement was a regional trade initiative that varied depending on the level of commitment and arrangements among the subscribers.
In his words, “Regional trade agreements vary depending on the level of commitment and arrangement among member countries. It comes with internal rules that member countries must follow.
“These include removal of trade barriers; free movement of goods and services across the region; Customs Union of
Member countries which must reduce trade barriers to enhance seamless cargo clearance”. Omotosho added“free import and export of resources must be allowed; member countries have to adopt a set of economic policies and use of one currency; regional integration must be encouraged. “Investors, who want to put money in developing countries, must be protected against political risk”.
Speaking further he said,
“AfCFTA has economic benefits, which include an increase in foreign direct investments (FDI) and reduction in trade tariff. The agreement helps to remove trade barriers. It boosts economic growth, creates jobs and paves the way for market
expansion.
“AfCFTA is a flagship project of African Union Agenda 2063, a blueprint for attaining inclusive and sustainable growth.
On 20th December 2019,
The federal republic of Nigeria president Gen Muhammadu Buhari inaugurated the National Action Committee for Implementation of AfCFTA. The Federal Executive Council ratified Nigeria’s membership of AfCFTA on November 11, 2020, and it started in January 2021 as scheduled.
Stating further Omotosho said, “The objectives are to create a single continental market for Made in African goods and services, with free movement of business persons and investments, paving the way for the establishment of Continental Customs Union.
“When fully implemented, AfCFTA will eliminate tariffs on intra- businesses to trade within the continent and cater to the growing African market.
AfCFTA is to create a liberalised market for goods and services through successive rounds of negotiation.
AfCFTA is to lay the foundation for the establishment of a continental customs union.
“AfCFTA is to be the world’s largest free trade area since the formation of the World Trade Organization (WTO).
AfCFTA is to consolidate Africa into one trade area for entrepreneurs, businesses and consumers across the continent”
Comrade Ray Ugochukwu president MAJAN, Speaking at the event, said the worth of AfCFTA is over $3. 4trillion annually and has the tendency to increase yearly.
AFCFTA has about 55 members Countries as its trade area with a Cumulative population of 1.3 billion people and a Gross Domestic Product( GDP)value of $3.4 trillion annually.
He assured that MAJAN would continue to discuss with relevant stakeholders and enlighten the public through responsible reportage.
His words: “As journalists, our duty is to enlighten the masses through our reports. This is what MAJAN is doing as a group. Our maiden national Maritime Summit on ‘Apapa traffic gridlock’ is slated for March 2021. We’re optimistic that our modest contribution towards addressing the Apapa gridlock will be fruitful”.
“The programme will provide a good platform for stakeholders, regulatory agencies and government departments involved, to find lasting solutions to the perennial gridlock at Apapa ports roads.”
Comrade Ray thanked all the resource persons, who graced the occasion, including Dr Emeka Enebili, the Chief Host, among others. Said MAJAN Roundtable was going to be a regular exercise.
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