Expert seeks more involvement in $6.7tn Africa export market

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The Executive Secretary, Institute of Export Operations and Management, Mr Ofon Udofia, has said increased Nigeria involvement in the African market estimated at S6.7 trillion can help to drive economic growth through higher industrial and service activities.

Apart from South Africa and Morocco, Udofia said, Nigeria is the other African country with the capacity to compete for the continental market said to consist of 1.7 billion people.

The hope of achieving this, according to him, hinges on signing the African Continental Free Trade Area agreement said to be the largest free trade agreement since the creation of the World Trade Organisation.

Udofia noted that creating the market is going to boost economic growth among member states with free movement of business people and investments, adding that it has the potential to deliver a great deal for Nigeria if the government decides to sign the agreement rather that refuse it.

He explained that once all the African countries began to operate like a bloc, Nigeria will find it challenging to work with them as this will require signing agreements with individual States.

 

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