Politics
THE Minister of Industry, Trade and Investment, Dr Jumoke Oduwole has described AfCFTA Bill as key to positioning Nigeria to fully harness opportunities of Continental trade while safeguarding national interest.
Ojumoke said this during a public hearing on AfCFTA Bill in Abuja on Monday.
She said that the Bill would promote transparency and predictability for investors and
businesses, strengthen Nigeria’s capacity to meet its obligations while effectively enforcing its rights under the agreement
“It is clear that the AfCFTA Domestication Bill before us is both timely and necessary. 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,” he said.
The Minister reiterated that the Bill would provide the legal basis for coordinated implementation across government institutions.
According to her, this legislation aligns with the Renewed Hope Agenda of President Bola Tinubu, by promoting economic diversification, industrial growth, export expansion, investment
promotion and job creation.
She explained that the Bill is an important step toward building a more competitive and resilient Nigerian economy.
Oduwole, who reaffirmed the Ministry’s commitment to working closely with the National
Assembly throughout this legislative process, said that it would provide the necessary support needed for an effective framework.
Earlier, the Speaker of House Representatives, Rep. Abbas Tajudeen said that the public hearing exemplified the enduring commitment of the House of Representatives to inclusive, transparent and participatory lawmaking.
Tajudeen, represented by the Deputy Chief Whip, Rep. Isiaka Ibrahim, expressed strong belief that better legislation not only depends on the wisdom of legislators alone, but the practical experience, expertise and perspectives of the people.
According to him, public hearings, therefore, remain one of the most valuable instruments through which we deepen democracy and ensure that our laws truly reflect the needs and aspirations of Nigerians.
Tajudeen, who, described commerce as one of the strongest pillars of the national economy, said it drives investment, stimulates production, expands markets, creates jobs, encourages innovation and strengthens consumer confidence.
“As Nigeria pursues economic diversification and greater competitiveness, we must ensure that our commercial laws are responsive to emerging realities, technological advancement and international best practices.
“The purpose of today’s hearing, therefore, is to subject these Bills to rigorous public scrutiny, receive constructive inputs from stakeholders, identify areas that require refinement and ensure that the legislation promotes enterprise,” he said.
The speaker said that the exercise aligned closely with the legislative agenda of the 10th house which places a premium on economic growth, institutional reform, good governance and private sector development.
He asserted their commitment to enacting laws that improve the ease of doing business, support entrepreneurship, remove unnecessary regulatory barriers, attract investment and create opportunities for our people.
Tajudeen also said that the Bill is a reinforcement of their unwavering commitment to supporting the economic reform programme of the administration of President Bola Tinubu under the Renewed Hope Agenda.
Also speaking, the Chairman, House committee on Commerce, Rep. Ahmed Munir, said that the goal of the 10th House of Representatives is to ensure laws actively foster economic expansion rather than obstruct it.
Munir said that the success of this legislative exercise depends heavily on your candid, expert feedback.
He urged all stakeholders be it governmental, industry players and civil society to actively participate, offer constructive critiques and provide data-driven insights to help us refine the bills into robust legal instruments.
NAN reports that the African Continental Free Trade Area (AfCFTA) is a free trade area founded in 2018, with trade commencing as of 1 January 2021.
The AfCFTA agreement will motivate Nigerian SMEs to expand their businesses to other African countries.
It will also foster business growth and increase profit as well as contribute substantially to the development of the manufacturing sector.
The Bills equally aims to increase job opportunities and the demand for labour, thus reducing unemployment. (NAN)
A.I
July 27, 2026
Tags: Dr Jumoke Oduwole President Bola Tinubu Rep. Abbas Tajudeen Rep. Ahmed Munir Rep. Isiaka Ibrahim