Post by Trade facilitator on Mar 26, 2019 12:06:06 GMT 1
The Federal Government and African Export-Import Bank (AFREXIM) has signed a $1 billion facility
export promotion programme, for an acceleration of Nigeria’s non-oil export within Africa. The facility comes with a total projection of $25 billion inflow within a short period of time.
The signing of the Memorandum of Understanding (MoU) which was witnessed by Osinbajo and the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, at the Intra-African trade fair in Cairo, Egypt on Thursday, December 13, 2018 excited the Vice President who said: “ I think we will arrive at a very successful establishment of the African common market, because I think it is good for African trade”.
Osinbajo stated that “the inter-State trade in Africa is 10%, while 90% is done with countries outside Africa.
There is no reason why we should not increase the inter-State trade on this continent. This is why this First intra African trade fair is an extra special event. It is the beginning of the coming to pass of one of Africa’s favorite dreams, Increasing Intra African trade, trade between and among ourselves in pragmatic and sustainable ways”.
The Vice President further said that for the continent to progress economically and “for us to live our dreams and the hopes and aspirations of our founding fathers we must commend and thank the African Union, and Afrexim Bank for organizing , and the Government and people of Egypt for hosting this trade fair and the excellent facilities that have been placed at our disposal”.
“Therefore, it is with great pride that we celebrate the dreams of Sir Abubakar Tafawa Balewa and all of the fathers of our continent as we take part in the first ever intra-African Trade fair.
“Nigeria places a high premium on the economic integration of the Continent and recognizes trade as a veritable tool ‘towards the Africa we all want’: an industrialized, prosperous and peaceful Africa where we generate enough opportunities to accommodate the growing numbers of our peoples.
export promotion programme, for an acceleration of Nigeria’s non-oil export within Africa. The facility comes with a total projection of $25 billion inflow within a short period of time.
The signing of the Memorandum of Understanding (MoU) which was witnessed by Osinbajo and the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, at the Intra-African trade fair in Cairo, Egypt on Thursday, December 13, 2018 excited the Vice President who said: “ I think we will arrive at a very successful establishment of the African common market, because I think it is good for African trade”.
Osinbajo stated that “the inter-State trade in Africa is 10%, while 90% is done with countries outside Africa.
There is no reason why we should not increase the inter-State trade on this continent. This is why this First intra African trade fair is an extra special event. It is the beginning of the coming to pass of one of Africa’s favorite dreams, Increasing Intra African trade, trade between and among ourselves in pragmatic and sustainable ways”.
The Vice President further said that for the continent to progress economically and “for us to live our dreams and the hopes and aspirations of our founding fathers we must commend and thank the African Union, and Afrexim Bank for organizing , and the Government and people of Egypt for hosting this trade fair and the excellent facilities that have been placed at our disposal”.
“Therefore, it is with great pride that we celebrate the dreams of Sir Abubakar Tafawa Balewa and all of the fathers of our continent as we take part in the first ever intra-African Trade fair.
“Nigeria places a high premium on the economic integration of the Continent and recognizes trade as a veritable tool ‘towards the Africa we all want’: an industrialized, prosperous and peaceful Africa where we generate enough opportunities to accommodate the growing numbers of our peoples.
