Minister Urges Entrepreneurs To Embrace ECOWAS Trade Liberalisation Policies

The Minister of Foreign Affairs, Ambassador Yusuf Tuggar has called on manufacturers and other stakeholders in the Southeast region to take advantage of opportunities offered by the ECOWAS Free Trade Liberalisation Scheme (ETLS), to boost their businesses.

The Minister who assured them of the Federal Government’s commitment towards unlocking trade liberalisation as a catalyst for growth and prosperity of the country, made the call during a one day sensitisation workshop on ECOWAS Trade Liberalisation Scheme (ETLS) in Awka, Anambra State capital.

The minister, who was represented by the Director of the Department of International Organization in the ministry, Ambassador Obinna Onowu, enumerated some of the benefits and opportunities offered by ETLS.

Obinna said, “The primary goal is to establish a customs union among all member states (ECOWAS) with the ultimate objective of completely eliminating customs duties and implementing a unified customs policy.

“The ETLS represents an ideal opportunity to foster greater economic integration and unlock the immense potential of intra-regional trade.”

He stated that the ministry had already organized similar sensitisation workshops in Kano, in 2020 and in Lagos, in 2023 for manufacturers, importers, and exporters in the Northwest and Southwest zones, respectively, but emphasized that the ministry viewed holding the program in the Southeast as very critical due to the huge number of stakeholders in the region.

Obinna added, that ETLS brings to end expending huge resources in export and import duties, especially among ECOWAS member states and revealed that Nigeria has 946 enterprises and over ten thousand products currently.

“By embracing the ETLS, together we will pave the way for Nigerian companies to thrive in the regional market, thereby boosting the influx of foreign exchange and fortifying our economic resilience.

“The Ministry is honoured by your participation as well as the resource persons that will deliver meaningful lectures on the scheme. I am convinced that the presence of manufacturers at this event would be of immense benefit to your businesses, which would assist in building a vibrant Nigerian economy and facilitate regional integration.” He added

Speaking at the event, Governor Chukwuma Soludo said that he has laid the foundation for businesses to thrive in Anambra through the provision of quality roads and other infrastructural development and has reinvented the ‘Igba Boy’ scheme where young boys are trained in line of businesses to grow, become their own masters and train others.

While hailing the programme as a major means of ensuring free flow of goods and services across borders of ECOWAS member states, Governor Soludo represented by his Chief of Staff, Mr Ernest Ezeajughi, recalled that Anambra state government is building a stable economic state with the introduction of distribution of coconut and palm seedlings which has been an annual event, and announced that one point three million seedlings of coconuts, palm, bitterkola, breadfruit among others would be distributed across the state.

“We are willing to participate in anything that is transparent and promote business friendly environment in the zone. We must promote all policies to ensure that our integral policies and economic instability can be reversed as gain exposure and export our existing frameworks,” Soludo added.

He listed lack of electricity, good road network and adequate security as major challenges the region is facing at the moment and stressed the need to promote Made-in-Nigeria products to boost the economy of the country.

The Ebonyi State governor, Francis Nwifuru, who was represented by the State commissioner for Commerce and Industry, Oguzor Nwali, also assured commitment of the zone towards harnessing ELTS and other government initiatives for economic growth.

The Anambra Commissioner for Commerce and Industry, Dr Christian Udechukwu, said the Workshop was organised in the state in line with Soludo’s vision of making Anambra a livable and prosperous state in Nigeria.

Earlier in his presentation, the Head of ECOWAS Unit in the Ministry of Industry, Trade and Investment, Zack Yohanna, disclosed that there were numerous business windows and opportunities for the zone to key into.

He stated that ETLS synergizes with the African Continental Free Trade Area (AfCFTA), and that the relationship creates a seamless gateway for free customs duties trade for bona fide manufacturers and traders under ETLS.

In their various presentations, Mr Yohana Kezaks who spoke on the difference between ECOWAS Trade Liberisation Scheme, (ETLS) and African Continental Free Trade Area, (AFCFTA) and Mr Adekunle Obatimehi from Nigeria Export Promotion Council who spoke on “Sensitization of Export Incentives”, maintained that there are fifteen ECOWAS member states who came together to promote free flow of goods and services across borders to enhance regional integration, infrastructural development, capacity building, institutional strengthening, sustainable development.

He noted that it is better to depend more on exportation to earn foreign exchange, increase sales and profit volume among other gains.

NAFDAC representative, Mrs Kadiri Halima, also assured commitment of the agency to promote wellbeing of Nigerians.

In his goodwill message, the President of Southeast and South South Chambers of Commerce, Sir Humphrey Ngonadi, described the event as wonderful and urged the manufacturers from the region to key into the scheme to further develop the zone.

He stressed the importance of information in building businesses and human development, appreciating the organisers for choosing Anambra as venue of the event.

The workshop, with the theme “Exploring the Benefits of ECOWAS Trade Liberalization Scheme in the Region,” was organized by the Economic Community of West African States (ECOWAS), facilitated by the Federal Ministry of Foreign Affairs in partnership with the Anambra State Ministry of Commerce and Industry for manufacturers, importers, exporters, and small and medium enterprises (SMEs) in these five states (Anambra, Enugu, Abia, Imo and Ebonyi) of the Southeast region.

 

Olusola Akintonde