Essential Ndubuisi
…Time to pay attention on Azubogu’s push for a thriving local Manufacturing sector
By Ikechukwu Emeka Onyia
10th January, 2021
Chris Emeka Azubogu, who spoke when a group of indigenous Anambra State businessmen paid him a New Year visit on January 1st, 2021 in his country home in Nnewi, Anambra State, made the following remarks on AfCFTA:
(1) When the continental pact commences, Intra-African trade will enable 90 per cent of all goods coming into the country become tariff-free for the countries that have deposited their instruments of AfCFTA ratification.
(2) With all the African countries, except Eritrea, participating, the AfCFTA would have the largest number of member countries in any trade deal since the formation of the World Trade Organisation.
(3) We must speed up investment on targeted infrastructural facilities that will crash cost of local manufacturing and movement of goods in order to compete favourably in the coming of AfCFTA.
(4) The AfCFTA trade Agreement present a market consisting of 1.2 billion people and a combined GDP of $3 trillion with 54 of the 55 African Union member states and we have to do everything possible to crash the cost of manufacturing and distribution as a people in Nigeria in order to benefit from this new deal.
(5) This is not a time for celebration, but a time to put up framework that will make our country’s economy to benefit from this 1.2 billion market. We have to prioritize Industrial Development Infrastructure.
(6) We must put human and physical Infrastructure that will turn our huge population as a productive assets in order to benefit from AfCFTA. We have to put framework that will protect jobs and put us in a strategic position as a country that will benefit from AfCFTA deal and not to be a dumping ground with the coming of AfCFTA. We have to prioritise skill manpower development as a people.
(7) Anambra State should key into this 1.2 billion AfCFTA market realities, in order for the state to benefit from AfCFTA new trade deal.
● I agree with #Azubogu on the need to pay attention on our local Manufacturing sector especially in Anambra State in order to create employment for young people and also benefit from AfCFTA 1.2billion market._
Ndi Anambra, Help is coming…
