Nigeria’s journey to successfully implementing the African Continental Free Trade Area (AfCFTA) is being hindered by several barriers, including concealment of information, over-reliance on road transport, and inefficient logistics management.
These challenges were highlighted by Dr. Kayode Farinto, former Acting National President of the Association of Nigerian Licensed Customs Agents (ANLCA), in a paper titled “AfCFTA: Dismantling Trade Barriers, Navigating Regional Trade.
Farinto emphasized the need for accurate information management, stating that concealment of information from the public is not only against the Freedom of Information Act but also hampers the success of AfCFTA.
He also stressed the importance of trade facilitation, citing the Nigeria Customs Service’s (NCS) recent efforts to streamline alerts and address revenue-related issues.
In addition to information concealment and inefficient logistics management, Farinto identified Nigeria’s over-reliance on road transport as a major barrier to intra-African trade.
He advocated for a multi-modal transport system, including rail connectivity and barge operations, to reduce congestion and promote faster trade.
Other stakeholders, including the President of the Maritime Reporters’ Association of Nigeria (MARAN), Mr. Godfrey Bivbere, have also highlighted the need for improved trade infrastructure, efficient procedures, and capacity building to maximize the benefits of AfCFTA.
As Nigeria continues to navigate the challenges of implementing AfCFTA, it is essential to address these barriers and promote a more efficient and transparent trade environment. By doing so, Nigeria can unlock the immense economic potential of AfCFTA and promote intra-African trade.
