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The African Continental Free Trade Area anticipated Port Reformation
Posted On 27 Mar 2021
By Abdul Rahman Bangura–
Photo Credit: Nairametrics
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– The Nigerian House of Representatives on March 26th, 2021 announced that there was desire for serious reforms at the ports if nations wishes to get ultimate advantages from the Africa Continental Free Trade Agreement (AfCFTA).
Talking at a public earshot on a bill to rescind the Export Prohibition Act, Chairman of the House Committee on Commerce, Hon. Femi Fakeye, announced that the many tariffs and unnecessary bureaucratic bottlenecks at the ports makes it difficult for exporters to export their goods out of the country.
Fakeye noted that in a bid to address the bureaucratic blockages at the ports, some Nigerians have devised ways of sneaking their products to neighboring African nations from where, the goods are exported overseas.
He stated: “why we are hemorrhaging in Nigeria is the civil service. We have layers of tariffs you have to clear at the ports. Whether you are importing or exporting even when what you are exporting is perishable.
“Peoples that have found ways of beating all these red tape and get their yam to their friends across the border in Ghana are doing a lot of business.
“I want to appeal that we do a lot of reforms now that we have AFCTA. We will not be able to fight back or win dollars back unless we reform how we do things at the border.”
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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