NESG says infrastructure deficits may hinder Nigeria from AfCFTA benefits

Technology News

 

By Henry Daniel

” So for us to gain from the African Continental Free Trade Area Agreement (AfCFTA), we need to adopt what is called “Value Chain Development; already we are investing less than ten percent yearly in what we are supposed to invest in infrastructure. So the structure is very poor. Investors would not come in where there is no Marco- economic stability.”

Laoye Jaiyeola, the CEO of, Nigerian Economic Summit Group (NESG), said today in an interview with AIT- African Independent Television.

“We must reduce unnecessary cost of governance and use the savings to fund infrastructure, protect our vulnerable sectors, make our business policies very clear and embark on massive manufacturing if we must explore AFCFTA,” said Jaiyeola.

Jaiyeola said that something cannot be built on anything, which has to say, Nigeria should not expect tangible benefits from AFCFTA since our power supply and other infrastructures in the country are still in a sorry state.
The NESG boss further urges the government to raise and protect keys but vulnerable sectors of the economy, and encourage other sectors beyond manufacturing where Nigeria has comparative advantage like the service, ICT, Creative Industry, legal sectors, among others.

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