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Lagos ready to domesticate AfCFTA agreement – Sanwo-Olu

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Lagos State Governor, Babajide Sanwo-Olu, said on Tuesday the state is ready to domesticate the African Continental Free Trade Area (AfCFTA) agreement.

The governor stated this when the Minister of Industry, Trade and Investment, Chief Adeniyi Adebayo, led members of the National Action Committee on nationwide sensitisation on AfCFTA on a courtesy visit to him at the Lagos House, Ikeja.

He said the Lagos government had observed the processes leading to the adoption of the continental trade agreement and positioned itself for market expansion across areas of collaboration.

The governor said the state was ready to take advantage of the AfCFTA for growth, adding that a local action committee would be set up by the state government.

According to him, the committee will liaise with the Federal Government’s committee in order to streamline the trade agreement with the state’s economic agenda.

Read also: Nigerian govt says AfCFTA will curb illegal mining

He said that the sustained investment in infrastructure in Lagos State was a deliberate attempt to position its economy for greater inflow of trade and economic partnership.

Sanwo-Olu said Lagos would not relent in its effort to scale up the necessary infrastructure to drive growth and socio-economic development.

He said: “We are ready to work with the National Action Committee to domesticate the agreement for a good outcome. As a commercial centre, we will play a leadership role in the comity of states.

”We know there is a need to scale up investment in infrastructure and build the capacity to be able to take full advantage of what the AfCFTA has to offer for our economy.

“This effort will be sustained so that Lagos can fully be positioned to benefit from the free trade agreement.”

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