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NGF Seeks Support Of Financial Institutions In AFCFTA.

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The Need for provision of a conducive environment for the Africa Continental Free Trade Area (ACFTA) agreement to thrive in the country has been emphasized by the chairman of the Nigeria Governors’ Forum (NGF) Kayode Fayemi. Gov Fayemi who gave the indication at the ongoing National Action Committee on ACFTA subnational strategy workshop in Abuja called for conversations on critical sectors of the economy including Power,Rail, Aviation, Mining, Petroleum, Roads and Education. He said Nigeria economy is projected by the African Development Bank (ADB) to grow by 2.9 percent in 2021 with the agriculture, energy, manufacturing contributing significantly to the GDP. This he assured, the partnership with NAC and AFCFTA especially in the implementation of the subnational strategy workshop aims to achieve. Earlier, the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo in his remarks describe the AFCFTA as a catalyst for Nigeria’s export diversification which currently source over 85 percent of imports from outside the continent. He further expressed optimism that the AFCFTA will provide opportunities for Nigerian Companies to expand to Africa especially in the oil and gas sector including manufacturing.

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