Kenya has received its first shipment from Nigeria under the African Continental Free Trade Area (AfCFTA), marking a significant step toward deeper economic integration in Africa. This milestone was announced by Nigeria’s AfCFTA Coordination Office, led by Olusegun Awolowo, following the directive from the 31st Ordinary Assembly of the African Union.
The shipment utilized AfCFTA preferential trade terms and included synthetic filaments produced by Lucky Fibres Limited (Lush), a subsidiary of the Tolaram Group. Olusegun Olutayo, Senior Trade Expert at Nigeria’s AfCFTA Coordination Office, described this move as a monumental achievement for the continent.
“In the face of rising geopolitical tensions and economic fragmentation, AfCFTA provides Africa with the opportunity to harness trade as a strategic tool to improve market access among state parties. This is a historic moment, reflecting the vision of Africa’s founding fathers and mothers,” Olutayo stated.
He also praised Kenya for its smooth cooperation, which exemplifies the spirit of AfCFTA. The Kenya AfCFTA Implementation Committee, Kenya Revenue Authority, and the AfCFTA Secretariat were all commended for their roles in ensuring the success of this initiative.
AfCFTA, Africa’s largest free trade area, aims to create a single market for goods, services, and mobility across 54 countries, collectively representing over 1.3 billion people and a combined GDP of nearly $3.4 trillion. The agreement seeks to enhance trade within the continent by reducing tariffs and non-tariff barriers, promoting industrialization, fostering regional value chains, and driving economic growth to improve living standards and alleviate poverty.
By creating a unified market, AfCFTA aims to strengthen Africa’s global competitiveness and provide new opportunities for its people.
