AfCFTA: Tinubu launches Preferential Trade, targets $50bn exports

President Bola Tinubu on Tuesday launched the Preferential Trade as part of the implementation of the African Continental Free Trade Area, AfCFTA, initiative.

The President, while speaking at the launching ceremony of the Guided Trade Initiative under the AfCFTA in Lagos, said Nigerian traders stand to benefit from its $50 billion export potential.

Tinubu, represented by the Secretary to the Government of the Federation, George Akume, said the initiative will revolutionize the continent’s economic landscape.

“It requires us to embrace challenges ahead with enthusiasm and readiness to tackle them headlong in the interest of our stakeholders and collective survival,” he stated.

National Coordinator, Nigeria AfCFTA Coordination Office, Olusegun Awolowo, had earlier said with the initiative, “Nigeria is ready to unleash an army of exporters into Africa”.

Nigeria is part of the African countries that signed the AfCFTA Agreement on July 7, 2019.