ACCI Calls for Removal of Barriers to Intra-Africa Trade and Investment

The President of the Abuja Chamber of Commerce and Industry (ACCI), Dr, Emeka Obegolu, has called for urgent measures to eliminate barriers impeding intra-African trade and investment.

Mr Obegolu made the call after the conclusion of the Nigeria-Uganda Trade and Business Forum and the official launch of Uganda Airlines’ maiden flight from Abuja to Entebbe.

He highlighted the need for the African continent to facilitate smoother business transactions between African nations by reducing visa fees and eliminating other obstacles that deter intra-continental economic growth.

The ACCI boss emphasised that high visa fees remain one of the most significant challenges to African unity and economic integration.

He pointed out that a $200 visa fee for intra-African trade visas is a heavy burden, stifling investment, trade, tourism, leisure, consular services, and cultural exchanges between Nigeria and other African nations, including Uganda.

“Intra-African trade is one of the key drivers of our collective economic future. Yet, the imposition of high visa fees, such as the $200 charge, acts as a barrier to realizing the full potential of trade and investment between our countries. We must work towards harmonizing visa processes to make it easier for Africans to do business with one another,” he stated.

Dr Obegolu commended Uganda Airlines for its successful launch of direct flights between Abuja and Entebbe, which he described as a monumental step forward in promoting closer ties between Nigeria and Uganda.

“With the new flight connection, travel time between the two capitals has been significantly reduced to just 3 hours and 30 minutes, enhancing opportunities for trade, tourism, and collaboration across multiple sectors,” he stated.

The ACCI President reiterated the Chamber’s commitment to fostering sustainable economic development through regional cooperation.

He assured guests that the Chamber would continue to push for policy reforms that support the ease of doing business, including the reduction of trade barriers, the simplification of visa processes, and the enhancement of transportation infrastructure, which are all critical to unlocking the full potential of intra-African trade.

Dr Obegolu also called on policymakers, governments, and regional economic communities to take deliberate steps to eliminate restrictive trade policies and create more favorable conditions for African businesses to thrive.

The Nigeria-Uganda Trade and Business Forum, held on September 13, 2024, brought together key stakeholders from both countries to discuss ways to foster closer economic cooperation in various sectors, including trade, investment, agriculture, manufacturing, mineral exploration, tourism, and technology.