he Nigeria-South Africa Chamber of Commerce (NSACC) has called for visa-free entry into all African nations to ensure the success of the Africa Continental Free Trade Area (AfCFTA) agreement.
Osayande Giwa-Osagie, NSACC president, said this on Thursday in Lagos during the chamber’s September breakfast forum themed, ‘Perspectives on the Africa Continental Free Trade Area in Relation to Nigeria’.
According to him, a single African passport will ease the movement of people and goods within the continent.
He said that AfCFTA would boost intra-African trade by 22 percent, adding that its implementation would impact positively on the Nigerian economy.
He also said Nigeria must diversify its economy to harness the gains of the agreement.
“Current intra-African trade rated at 15 to 17 percent is low and the AfCFTA is expected to boost intra-African trade by 22 percent,” NAN quoted Giwa-Osagie as saying.
“Challenges to its implementation are lack of infrastructure, political instability and lack of economic diversification.
“This gives rise to the need for Nigeria to diversify its economy to harness the gains of the agreement.
“Given the importance of the free movement of people, there is need for a free visa Africa and a single Africa passport.
“While the implementation would help boost the Nigerian economy, the impact would be limited if there are no free movement of people.”
On his part, Jesuseun Fatoyinbo, head of trade and transactional services, Stanbic IBTC Bank, said the business community needed more clarification on tariff reduction or elimination under the agreement.
