By Godwin Oritse

• As Nigeria targets $3.4trillion African market

FIVE years after the inauguration of the Nigeria AfCFTA Coordination Office, President Bola Ahmed Tinubu yesterday launched the first shipment of Nigeria’s export to five African countries under the Guided Trade Initiative, GTI.

Speaking at the ceremony, President Tinubu also said that the agreement would ignite the flame of opportunity, foster economic ties and pave the way for progress and shared prosperity for our great nation, in the entire African continent.

According to the President, the AfCFTA is not just an agreement but a trade agreement that is bound to build Africa’s industrialization and the prosperity for Africans.

The President who was represented by the Secretary to the Federal Government, Senator George Akume, said: “Today, we embark on a journey that would ignite the flame of opportunity, foster economic ties and pave the way for progress and shared prosperity for our great nation, in the entire African continent. We gather here in Lagos, seeking that this being at the forefront of Africa’s economic and trade acceleration, is a testament to Nigeria’s enduring leadership in regional and continental integration.

Similarly, National Coordinator, Nigeria’s AfCFTA Office, Mr. Olusegun Awolowo said that trade was the only and most sustainable path to prosperity.

Awolowo also said Nigeria has fully fulfilled all the requirements for accession to the Guided Trade Initiative, GTI, adding that the stakeholders stand as witnesses to the official flag-off of trade under the preferential trading arrangement with this symbolic shipment of some containers from Apapa ports.

According to Awolowo, the first set of exports from Nigeria have been consigned to Cameroon, Kenya, Algeria, Uganda and Egypt with exports like bags, ceramics textiles, cables, smart cards Clinkers Black soap, Native starch and Shea butter.

Awolowo said: “With this official launch we transition from planning for trade under the agreement to actively enabling our businesses to trade and win. It sets the stage for a new era of trade and prosperity for our country under the African Continental Free Trade Area (AfCFTA).

“Our journey to this day, though long, has been one characterized by extensive stakeholder engagements and collaboration between the public sector and the private sector. Both sectors worked to articulate and develop the vision and framework for our national participation that will assure the success of businesses that will trade under the agreement.”