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The Federal Government and the House of Representatives on Monday stepped up efforts to deepen Nigeria’s participation in the African Continental Free Trade Area (AfCFTA) with the consideration of the AfCFTA Domestication Bill, a proposed legislation expected to provide the legal framework for implementing the continental trade agreement, boost investor confidence and strengthen the country’s competitiveness across Africa.
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the Bill would promote transparency and predictability for investors and businesses, while strengthening Nigeria’s capacity to meet its obligations and effectively enforce its rights under the agreement.
Speaking at a public hearing organised by the House Committee on Commerce in Abuja, Oduwole described the proposed legislation as a strategic step towards positioning Nigeria to maximise the benefits of continental trade while protecting its national interests.
“The AfCFTA Domestication Bill is both timely and necessary. It is not merely about implementing an international treaty, but about positioning Nigeria to fully harness the opportunities of continental trade while safeguarding our national interests,” she said.
According to the minister, the Bill will provide the legal basis for coordinated implementation of the agreement across relevant government institutions and create a more predictable business environment that encourages investment, expands exports and supports enterprise.
She added that the legislation aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, particularly its focus on economic diversification, industrial growth, export expansion, investment promotion and job creation.
Describing the Bill as an important milestone in building a more competitive and resilient economy, Oduwole reaffirmed the ministry’s commitment to working closely with the National Assembly throughout the legislative process.
“We will continue to provide the necessary technical support to ensure an effective legal framework that advances Nigeria’s economic interests,” she said.
The AfCFTA, which came into force on January 1, 2021, is designed to create a single African market by reducing trade barriers among member states, expanding market access for businesses and promoting industrialisation and economic integration across the continent. The Domestication Bill is expected to provide the statutory framework for Nigeria’s full implementation of the agreement and enable the country to maximise the benefits of the continental market.
Also speaking, Speaker of the House of Representatives, Hon. Abbas Tajudeen, said the public hearing reflected the House’s commitment to inclusive, transparent and participatory lawmaking, stressing that sound legislation is strengthened by the contributions of stakeholders.
Represented by the Deputy Chief Whip, Rep. Isiaka Ibrahim, the Speaker said public hearings remain one of the most effective mechanisms for ensuring that legislation reflects the needs and aspirations of Nigerians.
He said: “Public hearings remain one of the most valuable instruments through which the House of Representatives deepens democracy and ensures that laws truly reflect the needs and aspirations of Nigerians.”
Describing commerce as one of the strongest pillars of the national economy, Abbas 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 noted that the exercise aligns with the legislative agenda of the 10th House of Representatives, which prioritises economic growth, institutional reform, good governance and private sector development. He reaffirmed the House’s commitment to enacting laws that improve the ease of doing business, support entrepreneurship, remove unnecessary regulatory barriers, attract investment and create opportunities for Nigerians, adding that the Bill reinforces the legislature’s support for the Tinubu administration’s economic reform agenda.
Earlier, Chairman of the House Committee on Commerce, Hon. Ahmed Munir, said the objective of the 10th House is to ensure that legislation actively promotes economic expansion rather than hinders business growth.
He urged stakeholders to provide frank, constructive and evidence-based recommendations to strengthen the proposed legislation.
“The success of this legislative exercise will depend heavily on candid and expert feedback. We encourage all stakeholders to offer constructive critiques and provide data-driven insights that will help the House refine these Bills into robust legal instruments capable of supporting sustainable economic growth,” Munir said.
If enacted, the AfCFTA Domestication Bill is expected to provide the statutory framework for Nigeria’s implementation of the continental trade agreement, enhance investor confidence, improve the ease of doing business and enable Nigerian businesses to compete more effectively in Africa’s emerging single market while expanding opportunities for trade, investment and job creation.
