Insights on how MSMEs can maximise the benefits of the AfCFTA, was the central focus of economic and tax experts at a one day stakeholders sensitisation and consultation forum, organised by CISLAC and OXFAM Nigeria in collaboration with CITN.
Nine months after President Mohammadu Buhari signed the AFCFTA, it seem as though Nigeria is still foot dragging with the implementation of the agreement. While the AfCFTA has great potential to support economic development on the continent and Nigeria by extension, some enterprises may not be able to take advantage of the agreement or compete with an influx of new competitors from other countries within the free trade area because of internal inefficiencies within businesses or suboptimal business environments. These potential challenges for businesses sparked some opposition to the AfCFTA in Nigeria and led Nigeria to be one of the last countries to sign the agreement on July 9, 2019.