• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home highlights

AfCFTA: Nigeria says it is committed to building local content by 40% in 5 years

4 years ago
in highlights, Home, home-news, latest News, Trade
2 min read
0 0
0
45
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

AfCFTA: Nigeria says it is committed to building local content by 40% in 5 years

The Nigerian government assured that it will enable local demand for new made-in-Nigeria automobiles by 40% in the next five years, in a bid to take advantage of the African Continental Free Trade Agreement (AfCFTA). They also revealed that Nigeria’s strategic objective was to capture 10% of Africa’s imports, as well as to double the country’s export revenues by 2035.

This was disclosed by Mr Francis Anatogu, Senior Special Assistant to the President on Public Sector matters and Executive Secretary, National Action Committee on AfCFTA, at a virtual seminar on Monday, themed: “Leveraging AfCFTA opportunities – The road ahead” organised by Coronation Merchant Bank.

What the President’s Special Assistant said

Anatogu revealed that the strategic objectives of Nigeria’s participation in the AfCFTA was to grow local demand for new made-in Nigeria automobiles to 200,000 units or 40%, over five years.

“The country would leverage technology and a cluster development strategy to grow the capacity of MSMEs, reduce informal trade and aggregate them for export,” he said.

He added that Nigeria was Africa’s largest market by GDP, accounting for 8.2% of Africa’s goods imports and 25.2% of services import, citing the need for proactive measures to grow local content of made-in-Nigeria products, to satisfy rules of origin, reduce unit cost, create new jobs and attract investments.

“While intra-Africa trade currently flows at 15%, the continent is looking at doubling its share of world trade from 3% to 6% over the next 10 years,” adding that Nigeria’s strategic objective was to capture 10% of Africa’s imports, as well as to double the country’s export revenues by 2035.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

Read: EGL, MTN and Total register gains on the local bourse

“To deepen economic integration of the African continent as well as expand intra-African trade, catalysing the continent’s environment and automotive systems is the key to the implementation of the AfCFTA,” he said.

In case you missed it

The Nigeria Export Processing Zones Authority (NEPZA), stated last week that for Nigeria to take advantage of the Africa Continental Free Trade Area (AfCFTA), policymakers must prioritise investments in regional infrastructure to maximize Nigeria’s position with the agreement.

This was disclosed by Dr Oyesola Oyekunle, Director, Policy, Nigeria Export Processing Zones Authority (NEPZA). He said Nigeria’s infrastructure deficit remains a concern towards the actualization of the agreement for efficient business delivery, and called for the strengthening of the Infrastructure Concession Regulatory Commission with human and material resources and its legal framework, to enable it to perform maximally in the realisation of the objectives to which it is set up

Source: nairametrics
Via: norvanreports
Tags: AfCFTA: Nigeria says it is committed to building local content by 40% in 5 yearsAfrican Continental Free Trade Agreement (AfCFTA).Nigeria Export Processing Zones Authority (NEPZA)
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.