Experts in the maritime and manufacturing sectors have called for improved infrastructure to enable Nigeria benefit from the imminent African Continental Free Trade Agreement (ACFTA). They also called for public-private partnership to hasten the process of infrastructural development in the country.
Speaking during a panel discussion at the maritime business and disputes forum hosted by the Lagos Chamber of Commerce International Arbitration Centre (LACIAC), they urged the government to put in place policies that would attract investors and improve the business environment.
Mansur Ahmed, president of the Manufacturers Association of Nigeria (MAN), at the forum, said the ACFTA was a good but long approach to economic development, stressing that Nigerian manufacturers lacked basic infrastructure to compete.
MAN president, who was represented by Reginald Odia, managing director of Bennette Industries Limited, said there were a lot of issues that manufacturers still battled with which reduced their productivity, arguing that because of the signing of the agreement, they would have to produce much more with less resources.
He advised that infrastructure development should not be left for the government alone and encouraged private sector participation. He said if the government can get the policies right, investors would be encouraged to contribute their own quota to the country’s economic development.
“This will speed up the infrastructure development process, but we need policies as well as the government will to encourage this action,” he said.
Speaking on the border closure, he said it depicted structural problems but with all hands on deck, the measure would be short term.
Chinwe Abanna, general manager, managing director’s office, Nigerian Ports Authority, said at the panel session that trade was necessary for economic development and would require standard infrastructure to be effective. She stated that while infrastructure deficit had continued to be a challenge, the congested port intensified the problem.
On the AfCFTA, she said, “The trade agreement is a redirection for people’s mindset and has set a stage for us within Africa to look inwards and tap into our resources and see how they can be effectively utilised for economic growth.”
Abanna, who represented Hadiza Bala Usman, managing director of NPA, said in an interview that the country needed to put structures in place, initiate procedures, convenient and friendly legal frameworks that could enable the services of the shipping industry to grow.
“Rome was not built in a day. The most important thing is that we have signed into the agreement and we can recognise the benefits. It will spur infrastructure improvement as well as economic development which will stir up innovation and encourage people to fully utilise their resources which will boost economic growth,” she said.
Obiageli Duru, a maritime and logistics consultant, said: “We need to upgrade infrastructure in order to handle what the trade agreement is all about.” Regarding the border closure, she said that it was necessary for countries to reach a decision that was beneficial to all sides. She advised the authorities not to make decisions in isolation and also put policies in place to attract the private sector.
Mba Sand, executive director at Africa International Trade and Commerce Research (AITCR), said the ACFTA was a game changer for Africans, especially Nigeria. He said that Nigeria had to be competitive enough so as not to be a dumping ground for other countries.
Speaking on the benefits of the AFCTA, Funmi Iyayi, managing director, LACIAC, in an interview, said while protocols of the agreement were being negotiated, interests of each sector should be considered.
Gbemi Faminu
