MARITIME EXPERT, DR. SEGUN MUSA OUTLINES WHAT NIGERIA MUST DO TO BOOST LOCAL PRODUCTION, ENSURE A SUCCESSFUL IMPLEMENTATION OF AFCFTA
Maritime expert, Dr. Segun Musa outlines what Nigeria must do to boost local production, ensure a successful implementation of AFCFTA
By Babatunde Aremu
African continental Free Trade Area ( AFCFTA) is a Trade agreement aimed at creating a single market for goods and services across the African continent boosting intra – African trade and promoting economic development.
AFCFTA also seeks to eliminate trade barriers such as Tariffs and import duties amongst member countries allowing for the free flow of goods and services .
Group Managing Director and chief executive officer of widescope international logistics Limited , Dr . Segun Musa in an exclusive interview with Frontline journalists Babatunde Aremu and Ruth Chinyere Umunnah in Lagos on Thursday however pointed out that so far Nigeria and other Member countries have failed to realise the set goals of the AFCFTA agreement.
” AFCFTA is supposed to be the largest Economy in the entire world and remove Trade barriers as obtained in Asia , Europe and America . but unfortunately Nigeria is not prepared for it . It is like motion without movement . We don’t have anything to Trade . You must have a product you are bringing to the market. Nigeria has no capacity. We can only buy. We don’t have capacity for export. When the cost of importation is lower than the cost of production. You concentrate on importing. For Rice we don’t have capacity. We don’t have capacity to Trade cocoa, cassava and rubber because we have not satisfied our local consumption. Where is that commodity we want to take to the local market Nothing and that is why AFCFTA is not working. I have not seen seriousness on the part of Government”– He said
He also identified poor infrastructure
as a clog in the wheel of progress that has continued to frustrate the African Continental free trade agreement .
Dr. Musa was emphatic in his submission. He wants Government to boost local production, encourage indigenous entrepreneurs and create the enabling environment for business to thrive .
” We don’t have any indigenous manufacturers in Nigeria except Dangote Group and probably BUA . Dangote cannot satisfy our local consumption . Coca cola is a foreign company and Nigeria’s manufacturing sector has been dominated by so many other foreign companies.”
The Maritime and Aviation expertt also tasks Manufacturers Association of Nigeria, Chambers of commerce to tell Government the reality to avoid a failed system.
“If you see any country where the Economy is vibrant and advancing is because there is this collaboration , synergy and engagement before the public and private sector. In a situation where you allow the public sector to dictate they will never dictate anything to add value to Government. ”
He tasked all Nigerians to have constructive engagement with Government and have an input in policy formulation so as to ensure a better alternative and a robust Economy
Dr. Segun Musa is an award winning Maritime, Aviation, media and project management expert with Foothold across five countries on three continents. He has won about 260 Awards .
He is the Chairman of Dr.Segun Musa Foundation , a highly sought after keynote speaker and an industry veteran .
