Four months after Nigeria flagged off its participation in the African Continental Free Trade Area under the Guided Trade Initiative, Nigerian exporters have said that the foreign exchange crisis in the country is hindering their participation on the platform valued to have a combined Gross Domestic Product of $3.4tn.
In July the Federal Government through the Nigeria African Continental Free Trade Area Coordination Office declared that 10 Nigerian companies would be exporting different homemade products to countries across East, Central, and North Africa.
The National Coordinator, Nigeria AfCFTA Coordination Office, Olusegun Awolowo, disclosed this in Lagos at the implementation of the African Continental Free Trade Area Nigeria’s inaugural shipment under the Guided Trade Initiative framework and ribbon-cutting ceremony.
“The companies are 10 in number, and over the next few days, weeks, and months they will be exporting Nigerian products to five countries across East, Central, and North Africa,” Awolowo had stated.
According to him, these companies which would be exporting products like bags and drinks were setting a new standard for others to follow.
