Nigerian business groups establish coalition to back AfCFTA trade in services protocol

Thirty-six Nigerian business associations, with support from the Center for International Private Enterprise (CIPE), have formed the Trade in Services Coalition to drive the implementation of the Trade in Services Protocol under the African Continental Free Trade Area (AfCFTA). The coalition aims to unite stakeholders in Nigeria’s trade in services sector, with oversight from a five-member coordination committee covering business, communication, finance, tourism, travel, and transport.

Lars Benson, CIPE Africa’s regional director, highlighted the coalition’s mission to help Nigerian businesses capitalize on the opportunities provided by AfCFTA, which holds significant potential for trade and innovation across Africa and beyond. He emphasized the coalition’s role in supporting the AfCFTA Trade in Services Protocol in Nigeria, advocating for trade-related issues, and fostering a united approach for impactful change.

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The coalition will work to integrate Nigeria into AfCFTA’s five priority service sectors by empowering stakeholders through advocacy, training, and capacity building. It also plans to collaborate with national professional bodies and regulatory institutions to streamline services and avoid redundant efforts.

Lola Adekanye, CIPE’s country director in Nigeria, and Mfon Usoro, president of the Chartered Institute of Logistics and Transport, Nigeria, underscored the coalition’s importance in leveraging AfCFTA for economic growth and development.