The Oyo State government has launched the Sub-national Implementation Strategy for the African Continental Free Trade Area (AfCFTA) in a bid to unlock prosperity, create employment, and boost the economy of the state.
During the launch, held at the International Conference Centre, University of Ibadan, Ibadan, the Secretary-General of the AfCFTA, Wamkele Mene, declared that the Oyo State’s decision to integrate with the rest of Africa through the AfCFTA, would result in the expansion of economic opportunities for the state.
Mene maintained that the initiative would boost the state’s trade volume, and unleash economic prosperity on the youth, the informal sector, farmers, manufacturers and entrepreneurs in the state.
Mene noted that by leveraging the opportunities provided by AfCFTA, Oyo State has become a beacon of resilience, competitiveness, job creation and prosperity for all.
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The AfCFTA Secretary-General lauded Governor Seyi Makinde for his vision in recognising the importance of AfCFTA and in driving the launching of the implementation strategy, to drive economic growth, reduce poverty and improve the living standards of residents of the state, as the strategy has short, medium and long term benefits for the state.
He stated: “The AfCFTA Secretariat stands ready to work with you, to support you within our modest means to implement this strategy, to ensure that when we say Oyo State was the first state across the continent to have a sub-national strategy that that does not end as a slogan, that indeed it does become a reality.”
In his speech, the Chief Host of the event and acting governor of Oyo State, Barrister Bayo Lawal, who spoke on behalf of Governor Makinde, said the launch of the implementation strategy is a statement of intent and another definitive step to show that the state means business and is ready to be proactive and strategic to external trade policies.
He pointed out that the strategy will, among other things, improve the export readiness of the state’s Small and Medium Enterprises through training, support for compliance with standards on packaging and certifications, and also signal to investors that Oyo State is ready and that it is a good place to invest.
Lawal noted that the strategy will equally help to focus by identifying priority sectors such as agriculture, manufacturing, and the creative industry, while the state can also devote resources where they will bring the highest returns.
He said: “As of now, no sub-national entity in Nigeria or Africa has formally adopted the domestic strategy to operationalise the AfCFTA Agreement. But today, Oyo State becomes the first of the 591 sub-nationals in Africa to create an AfCFTA Implementation Strategy.
“Some people who are used to politics without purpose may begin to look for ulterior motives. Some may even ask whose interest will this serve? Let me declare that we are acting now because we believe that while many states are waiting for a perfect alignment, we know that the sooner you prepare, the sooner you gain and that is why Oyo State chose not to wait.”
The acting Governor disclosed that although the Constitution of the Federal Republic of Nigeria, 1999 (as amended), makes it clear that treaties and agreements are negotiated and ratified by the Federal Government as tariffs, border protocols and customs are federal matters, but states have significant powers when it comes to economic development.
He explained that states control local infrastructure, promote investments, regulate activities within their borders and are responsible for agriculture, SMEs development, standards at the state levels, and so on.
Lawal noted: “So, what we are doing today is what scholars call para-diplomacy; that is engaging externally on economic matters without signing new treaties. When Nigeria ratifies an international agreement, that agreement becomes binding on the whole country. But, unless states align their policies and prepare their own systems, the benefits will pass them by.
“By our action today, we are preparing Oyo State’s systems; that is, regulations, standards, infrastructure, and institutional readiness and investment incentives such that when the federal provisions apply, we will be ready to benefit.”
He revealed that as part of the benefits, in the immediate term, the strategy will improve the export readiness of the state’s Small and Medium Enterprises through training, support for compliance with standards on packaging and certifications, and will signal to investors that Oyo State is ready and is a good place to invest.
Earlier in a welcome address, the Special Adviser to Governor Makinde on International Trade and AfCFTA, Ms Neo Theodore Tlhaselo, said the implementation strategy launch will position the state to take full advantage of the immense opportunities, which the AfCFTA, a historic continental trade integration, provides in terms of increasing the production capacity, increasing trade volume and expanding the economy of the state.
She stated: “The launch of this strategy is a call to action. It is a signal that Oyo State is open for business, not just locally, but across Africa. It is a commitment to inclusive, sustainable economic growth that leaves no one behind.”
Tlhaselo explained that “the implementation strategy being launched was built around five pillars, namely: the productive capacity and value chain development, the trade facilitation and infrastructure, the market access and export readiness, the finance and investment mobilisation, the institutional framework, and monitoring and evaluation.”
In their separate goodwill messages, the Rwanda’s High Commissioner to Nigeria, Christophe Baziwamo and Sierra Leone’s Deputy High Commissioner to Nigeria, Major-General Dauda Fred Alpha, hailed Governor Makinde’s vision and leadership, noting that the AfCFTA implementation strategy launch is a momentous and historic achievement, aimed at fostering greater economic integration in Africa.
The event had in attendance top diplomats from across Africa and dignitaries at the Nigerian Government and Oyo State levels, including the Executive Members of the AfCFTA; Development Partners from AfCFTA Secretariat, Ghana; Representatives of the African Development Bank; and former Deputy Chairman of the African Union, Monique Nsanzabaganwa. Also at the event were the Representative of the Ghanaian High Commissioner to Nigeria; Special Adviser on Communication to President Bola Ahmed Tinubu, Chief Sunday Dare; Chief Judge of Oyo State, Justice Iyabo Yerima, and other judges.
Others are former Deputy Governor of Oyo State, Hamid Gbadamosi; Oyo State Elders’ Council and Oyo State Advisory Council members; Representative of the Executive Secretary/CEO of the Nigerian Investment Promotion Commission; Representative of the Executive Director of the Nigerian Export Promotion Council; traditional rulers, religious leaders, National Assembly and Oyo State House of Assembly members, and Chairmen of Local Government Councils, among others.