FG Seeks Swift Passage Of AFCFTA Domestication Bill

The Federal Government, has urged the House of Representatives to expedite the passage of the African Continental Free Trade Area, AFCFTA, Domestication Bill, describing it as essential to unlocking trade, investment and economic opportunities for Nigeria.

Speaking in Abuja at the public hearing on 13 commerce related bills
organised by the House Committee on the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole said the legislation would provide the legal framework needed for Nigeria to fully implement the AFCFTA Agreement and maximise its benefits.

She said the African Continental Free Trade Area, the world’s largest free trade area by participating countries, offers Nigerian businesses access to a market of more than 1.4 billion people with a combined Gross Domestic Product exceeding US$3 trillion.

“The Bill is not merely about implementing an international treaty. It is about positioning Nigeria to fully harness the opportunities of continental trade while safeguarding our national interests,” the minister said.

According to her, the proposed law will strengthen coordination among government institutions, provide greater certainty for businesses and investors, and enable Nigeria to meet its obligations while protecting its rights under the continental trade agreement.

Oduwole said the legislation aligns with President Bola Tinubu’s Renewed Hope Agenda by promoting economic diversification, industrial growth, export expansion, investment promotion and job creation.

She highlighted Nigeria’s progress since ratifying the AFCFTA Agreement in 2020, including the establishment of the Nigeria AFCFTA Coordination Office, the development of a national implementation strategy, the submission of tariff concessions and services commitments, and the launch of programmes to support businesses, particularly micro, small and 5 medium-sized enterprises, women and youth-led enterprises.

The minister also noted that Nigeria became the first AFCFTA State Party to ratify the Digital Trade Protocol and has launched air cargo corridors linking Nigerian exporters with East and Southern African markets.

She added that Nigeria recently hosted the AFCFTA Week and now chairs the Bureau of the AFCFTA Council of Ministers responsible for Trade, a development she said reflects the country’s leadership in advancing Africa’s economic integration.

Oduwole said effective implementation of the agreement requires a comprehensive domestic legal framework, noting that the African Union has urged member states to complete ratification of the AFCFTA framework and its protocols by December 2026.

She called on lawmakers to give the bill favourable consideration, saying its timely passage would consolidate Nigeria’s leadership in continental trade, provide certainty for businesses and investors, and position the country to take full advantage of the opportunities created by the African Continental Free Trade Area.

Oduyemi Odumade