By Godfrey Ofurum
The Manufacturers Association of Nigeria (MAN) has called for a deliberate economic policy approach to help Nigeria to harness the benefits of the African continental Free Trade Area (AfCFTA) scheme.
Frank Onyebu, chairman, Apapa branch of MAN, who made the call at a business luncheon with the theme, “Improving Nigeria’s manufacturers competitiveness within the context of AfCFTA’s lamentations”, noted that AfCFTA was designed to be a game changer for development ambitions in Africa.
He however stated that considering the enormous challenges facing the country at this point in time, exploiting the opportunities presented by AfCFTA, would be an uphill task.
According to him, AfCFTA would have to be competitive. And to be competitive, it must create a deliberate economic policy towards sustainable industrial development.
“I dare say that there can be no sustainable development without an efficient and sustainable energy system,” he said, adding that, “Any initiative that would lead to a sustainable reduction in energy cost is therefore welcome.”
He enjoined governments at all levels to commence implementation of the design to reflect a commitment to creating a framework to deeper socioeconomic integration and improved cooperation that would enable trade, investment and the mobility of people, while supporting industrialisation and the development of a dynamic competitive manufacturing sector.
