On – going : NUJ workshop on AfCFTA

On – going : NUJ Workshop on AfCFTA

* AfCFTA can bring 30 million people out of extreme poverty – Says NUJ Chairman, Adeleye Ajayi

The Chairman, Nigeria Union of Journalists (NUJ), Lagos State chapter, Mr. Adeleye Ajayi, has said that African Continental Free Trade Agreement (AfCFTA) has potentials to increase employment opportunities and income, helping to expand opportunities for all Africans.

He stressed that AfCFTA can bring 30 million people out of extreme poverty and raise income of 68 million others who live on less than $5.50 per day.

He made these details known during his opening speech at the on-going workshop on AfCFTA, taking place at Airport Hotel, Lagos.

According to him :
“Implementation of AfCFTA, trade facilitation measures that cut red tape and simplified Customs procedures would drive $ 292 billion of the $ 450 billion in potential income gains.

He added:
“Implementation of AFCFTA would usher in deep reforms necessary to enhance long-term growth in African countries.

“The scope of AfCFTA is large. The agreement will reduce tariff barriers among member countries and cover policy areas such as trade facilitation and services, as well as regulatory measures such as sanitary standards and technical barriers to trade.

“Full Implementation of AFCFTA would reshape markets and economies across the region and boost output in the services, manufacturing and natural resources sectors”.

He pointed out :
“As the global economy is in turmoil due to COVID-19 pandemic, creation of the vast AfCFTA regional market is a major opportunity to help African countries diversity their exports, accelerate growth and attract foreign direct investments”.

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