AfCFTA: Nigeria enlisted to commence GTI for pilot trading
Two years after the commencement of trade on the African Continental Free Trade Area (AfCFTA) platform on January 1, 2021, Nigeria has finally been enlisted among the 14 countries to commence the Guided Trade Initiative (GTI) Scheme for pilot trading.
To this end, the National Action Committee (NAC) on AfCFTA has requested that manufacturers identify products/tariff line that companies are ready to trade in under the GTI Scheme.
Recently, following the successful gazetting workshop held on December 6, 2023 and considering the proactive commitment demonstrated by the Organized Private Sector of Nigeria (OPSN) towards the effective implementation of the AfCFTA, the Executive Secretary of NAC on AfCFTA, officially requested the submission of the detailed Preferred Product List from the Provisional Schedule of Tariff Concession (PSTC), which was compiled and submitted during the trade in goods negotiations of AfCFTA.
Reacting, the Export Manager of Aarti Steel, who is also an executive of MANEG, Okhai Ehimigbai, noted that it is a commendable move having waited for this length of time.
“I believe it’s a good step to boost trade going forward.AfCFTA could deliver far greater benefits in terms of jobs, growth and poverty reduction than previously estimated if its ambitious goals are fully realised,” Ehimigbai said.
The coordinator, NAC on AfCFTA, Mathew Oloba, said AfCFTA’s GTI had been able to help test the operational, institutional, legal framework, trade policy environment and the readiness of the private sector for intra-African trade.
