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AFCFTA: Dangote to Boost Africa’s Earnings

by STALLION TIMES
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The multi-billion Naira Dangote Cement Plc, for instance, has a presence in over 10 African countries, while the newly incorporated Dangote Fertiliser and oil refinery are capable of mitigating the continent’s shortfall in foreign earnings.

The Director-General of the Abuja Chamber of Commerce and Industry (ACCI), Ms. Victoria Akai, said that the Dangote Group has been a pacesetter in manufacturing while boosting Nigeria and Africa’s earnings.

She said: “The founder, Alhaji Aliko Dangote, is a visionary leader and has led the Group to become one of the leading brands in Africa and the world, which is a pride to every Nigerian.”

According to her, the company is one of the biggest and most strategic partners of the Abuja Chamber of Commerce and Industry (ACCI).

The 17th Abuja International Trade Fair is scheduled to hold between Friday, Sept. 30, and Oct. 9, at the ACCI Abuja International Trade Fair Complex; Dangote Group is the major sponsor of this edition.

Speaking on the role of small-scale industries, the DG of ACCI said with the interest in the African market, coupled with the implementation of the AfCFTA, Nigeria is in a privileged position given the role of the Dangote Group and many other big companies.

She added that Nigeria has enormous potential for export considering the number of SMEs in the country.

According to her: “SMEs represent about 96 per cent of the business fabric and generate over 70 per cent of employment while contributing to about 48 per cent of Nigeria’s GDP, making them the engine of Nigeria’s economy and playing a vital role in the economic recovery.”

The AFCFTA, established in 2018, is a free trade area comprising of most African countries as signatories, making it the largest free trade area by number and second only to the World Trade Organization (WTO).

Under the agreement, parties are committed to eliminating tariffs on most goods and services, as well as eliminating other impediments to free trade.

(NAN)

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