Obasanjo calls for stronger intra-African trade

Former President Olusegun Obasanjo has
called on African countries to explore
trading opportunities within the continent
as part of efforts to boost their
economies.
Obasanjo made the call on Monday when
a delegation from the National Council on
Industry, Trade and Investment paid him a
courtesy visit at his hilltop mansion in
Abeokuta.
The delegation led by the Minister of
Industry, Trade and Investment, Dr
Okechukwu Enalamah, included the
Minister of State for Industry, Trade and
Investment, Aisha Abubakar, and
members of some committees of the
National Assembly
The News Agency of Nigeria (NAN)
reports that the delegation was in
Abeokuta for the eighth edition of the
council’s meeting with the theme
“Diversification of the Nigerian Economy:
From Over Dependence on Oil Exports.’’
The former president expressed concern
that the share of intra-African trade in
Africa’s total trade over the past decade
was only about 12 per cent compared to
65 per cent of Asia.
Obasanjo called for removal of all barriers
against intra- African trade and the
establishment of commodity exchange for
agricultural goods produced in the region.
He also called for the establishment of
coastal shipping system to ease trading
within the region.
Obasanjo expressed optimism that an
enhanced coastal shipping system would
increase the share of intra-African trade
in the region’s total trade by 10 per cent.
He faulted the argument that trading
within the African Union would continue
to be low because the member countries
produced same commodities.
“I want to disabuse the minds of our
people against the notion that the level of
trading among ourselves will be low
because we are producing the same
goods.
“Let us note that Britain and France
produce the same goods and yet there is
strong trading between the two countries.
“The same thing happens between
Germany and France as well as among
European countries and between Europe
and America.
“In any case, let Nigeria which is
advanced in the production of noodles sell
to Angola where the goods are in heavy
demand.
“Let Kenya which is very good at
producing Kiwi polish and cashew nuts
sell to Nigeria first and not to Europe and
we in Nigeria would in turn sell our goods
for which we have comparative advantage
to Kenya.
“All I know as I was growing up is
farming and trading and these are the
professions that my parents used to send
me to school.
“Nigeria needs to actively engaged and
strengthen both internal and external
trading to quickly get out of recession,’’
he said.
He urged members of the National
Assembly to make laws that would ensure
that Nigeria increases its level of
productivity and trading.
Earlier in his remarks, Enalamah had
commended Obasanjo for his commitment
to the unity and development of the
country.