Following the signing of the AfCFTA Agreement, President Buhari has approved the establishment of a National Action Committee (NAC) for implementation of the AfCFTA Agreement.
The Committee will be comprised of representatives of Ministries and Agencies with competent and relevant jurisdiction, and selected stakeholder groups from the private sector and the civil society to coordinate the implementation of all the AfCFTA readiness interventions. The Committee will undertake a process of engagement with stakeholders to sensitize them on the opportunities and challenges of the AfCFTA, with preparedness plans for the Nigerian economy.
Upon ratification, Nigeria will domesticate the Agreement by incorporating it into existing laws or enacting new laws, as appropriate engagement shall shortly start with the Ninth National Assembly. On the list of the President’s approval are: fast-tracking domestic work, for the implementation of AfCFTA readiness interventions to enhance productivity, competitiveness and facilitate trade which includes policies to grow local capacity to produce and export goods and services; infrastructure projects, trade facilitation, ease of doing business and trade rules enforcement initiatives. And support, actively, Micro- Small and Medium Enterprises.