CWEIC: Shasore Chairs AfCFTA Discourse, Emphasizes Role of Intra-African Trade

Ugo Aliogo

The Chairman of Nigeria Advisory Board of the Commonwealth Enterprise Investment Council (CWEIC), Olasupo Shasore has said exploring opportunities for intra-African trade is key towards a progressive African market.

Olasupo Shasore disclosed this during a webinar organized by CWEIC to bring government, business leaders and investors together for a successful AfCFTA implementation.

Shasore, stated that AfCFTA’s impact on the African Market gives room for smooth intra-African trade, affirmed that if AFCFTA is successfully implemented, the agreement would create a single African market of over a billion consumers with a total GDP of over $3 trillion.

The legal Luminary said the signing of the AfCFTA in 2018 hands out to African Governments, especially the Nigerian government, the opportunity to record an impressive economic growth and expansion like never before.

“Achieving ground-breaking GDP is possible if African governments and it is institutions, public and private, work together to stimulate a hitch-free intra-African trade.”

“AfCFTA is projected to increase the value of intra-African exports by a remarkable percentage in the coming years, hence, African governments must wake up to this reality as trade will be a key driver of growth in Africa,” the Nigerian Advisory Board Chairman said.

He urged the federal government to further explore the opportunities presented by AfCFTA via the acceleration of export diversification, in order for Nigerian businesses to thrive beyond the shores of the nation, thereby contributing towards Nigeria’s economic growth and expansion.