National trade policy is obsolete – NACCIMA boss

National trade policy is obsolete – NACCIMA boss

The Nigeria Association of Chambers of Commerce, Mines and Agriculture (NACCIMA) has expressed worry the country’s trade policy, saying it has become obsolete and remains a major hindrance confronting commerce and industrial activities in the country.

National Vice, President of NACCIMA, Alhaji Sanusi Maijamaa, who disclosed this over the weekend in an exclusive interview with select journalists in Lagos, noted that the Chamber has been worried over the situation.

According to him, ”At the national level, we are worried because we have a policy that is obsolete, which is the national trade policy, but I am happy that this government has done a lot towards updating it to suit the modern day global business, with the support of other stakeholders, utilising the non-governmental trade organisations.

“They have reached a certain level, but we have to do more so that we can put a law and improved on the existing policies. NACCIMA has done a lot and we have participated in some of the works to enhance these policies.

“The MSME policies have been on review severally, the National Industrial Policy has been on review periodically by the government. Also, the National Agricultural Policy, which is key is what the government is putting in place to address the issue of the non-oil income to improve the economy. I want to believe that all these sectors have NACCIMA laid the foundation of addressing and updating them for the Nigerian benefits.”

Commenting on the free trade zones, he said, Africa Continental Free Trade Agreement, (AfCFTA), he noted that Nigeria contributed a lot and consulted with all the stakeholders, private and the public, intellectuals, donor agencies.

He said, “We met severally, and we discussed a lot about it and we gave our recommendation. The bottom line of our recommendation is that AfCFTA is an opportunity for Nigeria to expand its markets. Nigeria has markets for 54 nations to take advantage from in the AfCFTA.”

He said the area Nigeria should be concerned about is how to regulate movement of goods and people within the terms and conditions of the agreement.

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