Nigeria needs international partnership to harness AFCFTA benefits – NSC

For Nigeria to harness the benefits of the African Continental Free Trade Agreement (AfCFTA), the country needs to forge strong partnerships across borders, the Nigerian Shippers’ Council (NSC), has said

Pius Akutah, executive secretary of the NSC, disclosed this in Lagos during the 15th Annual General Meeting of the Nigerian Maritime Law Association.

With a combined population of 1.3 billion and a GDP of about $3.4 trillion, trade between African countries holds huge potential for Nigeria to actualise its industrialisation and economic diversification targets.

Read also: AfCFTA: MWFAAN stepping up for Nigeria economic future

About 54 African countries will leverage comparative advantages to achieve over $50 billion in intra-Africa trade under the AfCFTA.

Akutah said that engaging with global maritime bodies, sharing knowledge, and participating in dialogues promoting mutual growth will position Nigeria as a regional and international maritime community leader.

He said the council’s active participation in developing and promoting national and international maritime, trade, and transport frameworks enables it to adopt best practices, leverage advanced technology, and build resilience against economic and environmental challenges.

Akutah said policy innovation is essential for sustainability in the maritime sector, adding that the NSC has been proactive in advocating for regulatory frameworks/reforms that promote environmental responsibility, reduce carbon emissions, and protect marine ecosystems.

He said policies supporting cleaner fuel alternatives, renewable energy investments, and eco-friendly port operations are critical for achieving a green future.

Shippers Council sets industry standards and encourages practices that align with Nigeria’s environmental commitments as a port economic regulator.
He said by working with local, national, and international partners, the council seeks to foster a green maritime economy and instil a culture of sustainability across the industry.

According to him, achieving a sustainable maritime sector demands a comprehensive approach.

Akutah said the council is committed to driving policies and initiatives that contribute to a resilient, sustainable, and globally competitive maritime sector.

He said Nigeria’s maritime sector cannot afford to operate in isolation in an increasingly interconnected world.
“AfCFTA provides a unique platform for enhanced intra-African trade, creating unprecedented opportunities for the Nigerian maritime industry,” Akutah said.

Read also: Nigeria committed to AfCFTA’s digital trade protocol – Minister

According to him, AfCFTA’s framework allows members to tap into a larger market, facilitate the seamless movement of goods across borders, and position Nigeria as a vital hub for regional trade.

He disclosed that the NSC is actively engaging with AfCFTA initiatives, working to remove non-tariff barriers and streamline regulatory processes that will facilitate smoother, cost-effective cargo movement across African countries.

This collaboration is vital to realising the potential of AfCFTA and fostering a truly integrated African market.