The Minister of Trade and Investment, Otunba Niyi Adebayo, has said infrastructure deficit may hamper implementation of the African Continental Free Trade Area Agreement (AfCFTA).
He stated this on Tuesday at a press conference in Abeokuta, Ogun State.
Adebayo represented by the Director of Trade in the Ministry, Aliyu Abubakar led the National Action Committee on the AfCTA to the state as part of the nationwide sensitisation and sub-national engagement.
The minister noted that the infrastructure deficit must be fixed for Nigeria to take full advantage of the AfCFTA.
Adebayo also said lack of information by the stakeholders may pose a greater challenge to the success of the AfCFTA.
According to him, Nigeria must address the bottleneck in order to benefit from the agreement, which seeks to create a single market in Africa with a population of 1.2 billion people and a combined Gross Domestic Product (GDP) of $3.4 trillion.
Governor Dapo Abiodun who was represented by his Deputy, Engineer Noimot Salako – Oyedele said the Technical Committee would interface with the NAC to ensure full implementation of the AfCFTA agreement in the state.
The governor noted that the state would leverage on the agreement to boost its economy and create enabling environment for businesses to thrive.