By Meletus EZE
Vice President Yemi Osinbajo has assured that Nigeria will participate effectively in the up-coming 2018 Intra-Africa Trade Fair (IATF) scheduled to hold in Cairo, Egypt.
The Vice President gave the assurance at the IATF engagement session organised in collaboration with the Nigeria Export Promotion Council (NEPC) on Monday in Abuja.
Osinbajo, represented by Mr Ade Ipaya, the Deputy Chief of Staff to the President, said Nigeria would use the fair as a means to showcase its trade and investments opportunities.
“We believe that the trade fair will provide an opportunity for us to engage other African countries and investors who are interested in partnering with Nigeria to support the zero power policy. It will also provide an avenue for us to reposition the Nigerian economy.
“Nigeria will definitely take the national pavilion and use it as an opportunity to showcase the made in Nigeria products.
“I also urge Nigerian companies and states to book spaces for the trade fair to be able to showcase their unique goods and services,’’ he said.
The Jigawa State Governor, Alhaji Mohammed Abubakar said “this engagement session for IATF that will attract benefits to African countries is a welcome development that should be supported.
“Nigeria is not only willing but uniquely positioned to play a central role in the achievement of the IATF’s objective.’’
Abubakar, represented by Mr Ibrahim Hadejia, his deputy decried poor implementation of the existing regional and zonal trade alliance and treaties of the continent.
This according to him has failed to create the envisaged seamlessness that will translate into the larger market and drive trade and industry within individual member states.
He said: “the impediments of infrastructural deficit and recent security challenges that are often cited as reason for poor implementation are both directly related to adverse economic situation.
“This can easily be addressed by the increased productivity and turnover that an intra-trading environment will provide and this `luscious sacral’ needs to be broken now.
“Afreximbank as a continental institution is therefore perfectly placed to champion the kind of structured partnership for commercial cooperation and integration.
“Its local knowledge will no doubt help in coming up with a neutrally beneficial arrangement that takes cognisance of Pan-Afric peculiarities to assuage the very genuine concerns of individual member states.
“The continental business intelligence and data presents an excellent starting point for analysing opportunities and linkages for expanding trade across borders.
“And Nigeria is already positioning itself through an aggressive reform of business environment and with the Economic Recovery and Growth Plan (ERGP) as a strategy for achieving sustainable and inclusive growth.’’
Mr Olusegun Awolowo, the Executive Director, NEPC, urged various stakeholders in the country to aim at making Nigerian products the first choice of products at the fair.
“A thorough look at Africa’s products demand from around the world shows Nigeria is suitably positioned to replace supplies from other regions of the world on some key products.
“We should aim to make Nigerian products the first products of choice for African markets and the first step is to engage.
“We will be engaging relevant government partners and the organised private sector to ensure that Nigeria showcased its best and maximises the IATF 2018 platform for enhanced trade relations.
“We know that the potential exist and so where we have comparative advantage, we should aim to get competitive and increase our productive capabilities.’’
In her remarks, Ms Kanayo Awani, the Managing Director, Intra-African Trade Initiative, Afreximbank said “the IATF will transform the way African countries trade with each other and transform Africa generally.’’
Awani called on the government and various stakeholders to mobilise businesses, both corporate and Small and Medium Enterprises (SMEs) to get involved in trade and investments across Africa.
