Nigeria will continue to lead Africa for effective trade relations -Awolowo

August 23rd, 2019

By Okey Muogbo

The Executive Director/Chief Executive Officer of Nigerian Export Promotion Council, Chief Segun Awolowo jnr has said that Nigeria will continue to lead Africa For effective and timeless boosting of her foreign earnings and trade relations with other countries of the world and also enhance global trade relations with the continent globally,

In a telephone chat with Mr. Olusegun Awolowo, also described African Growth and Opportunity Act ( AGOA) as the best for African nations to seek for economic freedom, viability and reliability .

Mr. Awolowo, who led the Nigerian delegation to 2019 African Growth and Opportunity Act (AGOA) Forum in Abidjan, Côte d’Ivoire,recently, said that the goal of AGOA since its inception in 2000, was in line with the policy of President Buhari’s government in terms of trade diversification and genuine economic growth of Nigeria.

The event, which attracted eminent personalities from Africa and the United States of America, USA, was graced by the Prime Minister of Cote d’Ivoire, the Honorable Amadou Gon Coulibaly,

Mr Awolowo said Nigeria would continue to lead Africa for effective and timeless boosting of her foreign earnings and trade relations with other countries of the world and also enhance global trade relations with the continent globally.

He said the government of President Muhammadu Buhari had placed more emphasis on the need for the nation’s economy to be more sustainable and inclusive through the non-oil export sector, ” hence the reasons Nigerian Export Promotion Council launched its SERVICOM Charter recently to guarantee and enhance global standards for commodities by Nigerian exporters via proactive service relations between the Council and Nigerian exporters.”

In his address at the event, Ambassador C.J. Mahoney, Deputy United States Trade Representative, remarked that Africa was more prosperous, more developed, and more interconnected with the global economy than ever before.

Ambassador Mahoney said today, Africa contained some of the fastest growing economies in the world that had resulted in a rapidly expanding middle class contending that the launch of the African Continental Free Trade Agreement, AfCFTA, in May of this year was a remarkable achievement as it laid the groundwork for greater competitiveness, trade diversification, and economic growth in the Continent.

Speaking in a similar vein, Mr. Nagy, the US Assistant Secretary for African Affairs, revealed that last Wednesday forum of AGOA marked the 18th year government officials, business leaders, entrepreneurs and civil society from African countries and the United States had been convening to advance commercial and trade ties.

Mr Nagy said advancing commercial and trade ties with Africa by the United States of America had become imperatively more compelling because Africa’s population was projected to double by 2050 to over 2 billion people, 70 percent of whom would be under 30 years old, and, if the emerging “youth bulge” was brought to its full potential, “the possibilities are limitless.”

Mr. Nagy remarked that because of AGOA, the rate of growth in critical areas in Africa had been substantial since its inception as non-oil trade under AGOA had increased more than 300 percent since 2001, and the growth of these non-oil industries had spurred an estimated 300,000 direct jobs in beneficiary countries.

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