The Oyo State Government has encouraged exporters in the state to capitalize on the African Continental Free Trade Area (AfCFTA) to boost their businesses and access markets across the continent. This move aims to increase the volume and value of non-oil products from the state. According to the Commissioner for Investment, Trade, Cooperatives and Industry, Prof. Salihu Abdulwaheed Adelabu, the agreement presents significant opportunities for Nigerian businesses, particularly exporters.
Prof. Adelabu made this statement while addressing stakeholders at a meeting of the State Committee on Export Promotion (SCEP) in Ibadan. He emphasized the government's commitment to strengthening collaboration among government agencies, exporters, regulatory bodies, and private-sector stakeholders to address challenges affecting non-oil exports. This initiative seeks to enhance the competitiveness of Oyo products in African markets.
The commissioner urged exporters to improve the quality, packaging, and standardization of their products to meet international requirements and take full advantage of AfCFTA opportunities. He noted that Oyo State has considerable potential in agricultural and manufactured products that could compete favorably in African markets if properly processed, certified, and marketed. This would enable the state to increase its non-oil exports and contribute to economic development.
Adelabu stressed the need for exporters to understand the requirements of target markets, obtain necessary certifications, and adopt appropriate packaging and labeling standards. He also called for stronger coordination among relevant government institutions and industry players, emphasizing that effective collaboration is essential to removing bottlenecks and improving product competitiveness.
The commissioner assured stakeholders that the state government would continue to provide an enabling environment for businesses to thrive while strengthening institutional support for exporters across the state. He encouraged exporters to explore new markets beyond Nigeria, saying AfCFTA has created a broader platform for businesses to connect with consumers across Africa.
Adelabu urged exporters to leverage AfCFTA to expand their market reach and increase their exports. He emphasized that sustained export growth would not only generate foreign exchange but also create jobs, strengthen local production, and enhance the overall economic prosperity of Oyo State. The government aims to support initiatives that boost non-oil exports, attract investment, and increase the contribution of trade to the state's economic development.
The Oyo State Government's efforts to promote non-oil exports and leverage AfCFTA are expected to have a positive impact on the state's economy. By supporting exporters and improving the business environment, the government aims to increase the state's economic growth and development. The implementation of AfCFTA is expected to create new opportunities for Oyo State exporters and contribute to the state's economic prosperity.
Key points
- Oyo State Government urges exporters to leverage AfCFTA to access African markets
- Government aims to strengthen collaboration among stakeholders to address challenges affecting non-oil exports
- Exporters encouraged to improve product quality, packaging, and standardization to meet international requirements
