The Federal Government on Wednesday approved the establishment of a Trade Negotiation Office that will serve as the central database for trade agreements.
The trade negotiation office will help to coordinate the different trade agreements to achieve coherence in the government’s policies.
The Nigerian Trade Negotiation Office is part of the government’s strategy of being proactive in engaging with strategic trade partners.
The trade office which will be domiciled in the ministry of trade and investment will be over sighted by the Economic Management Team (EMT).
It will also help in the implementation of the country’s Economic Recovery and Growth Plan.
This was disclosed by the Minister of Trade and Investment, Okechukwu Enelamah who briefed alongside the ministers of Transport, Rotimi Amaechi, Health, Isaac Odewale, and Information and Culture, Lai Mohammed, after the weekly Federal Executive Council meeting on Wednesday, chaired by Acting President Yemi Osinbajo.
According to Enelamah, the Nigerian office for trade negotiations will be headed by a Chief Negotiator of ambassadorial rank that will work with both the Economic Management Team and the FEC.
“One of the memoranda approved is to establish the Nigerian office for trade negotiations. Trade is something that is quite pervasive, we get involved in a lot of negotiations and a lot of MOUs assigned on trade.
What we found was this was happening in various ministries agencies and department with insufficient coordination and therefore consequently it had unintended consequences and cost for us. There are a number of examples of these things that have happened so the cabinet decided that it is wise to establish a coordinating central office for trade negotiations. The Nigerian office for trade negotiations which will be headed by a chief negotiator of ambassadorial rank that will then work with both the economic management team and the cabinet.
“Some of the objectives of that office will be to help us to coordinate the various trade discussions and negotiations that will hold and to achieve coherence in our policies so that our policies
will pull our trade together. As part of an offensive strategy of being proactive in engaging some of the discussions we are having on the continental free trade area agreement that we are negotiating or other free trade agreement that we have entered into with strategic partners all over the world. Then finally it will also help us in the implementation of our economic recovery and growth plan because clearly there is an intention to engage and work with other countries in that process”.
He added that “We also want to make sure that we have trade remedies against dumping, substandard goods and all the other things which is something that is allowed the world over. This office will also take responsibility to make sure that we achieve all these objectives
“The focal ministry in terms of the ministry that is championing it is the Ministry of trade and investment but all the approval will pass through the EMT which will also provide oversight. There will be an inter-ministerial body that will provide the focal point but the EMT will play a role of oversight”.
Last month, the federal government inaugurated a multi sectoral committee to enhance the country’s opportunities and address challenges especially in the Continental Free trade areas (CFTA). This was to ensure that Nigeria only partakes in trade negotiations that will deliver dividends to its citizens, across all areas.
Council also approved the introduction of a new Yellow Card with advanced security features. The card will be readable by a scanner which will show the last date of vaccination.
“With this new card, you cannot fake the yellow card. Using a card reader we can also document your vaccination status. So we know whether you have been genuinely vaccinated or not and as soon as we start the roll out we will let the Nigerian community know about the date of commencement, we will also let them know with the existing card they are holding and when we will
phase out the old one” the minister of health said.
Transport minister also told journalist that FEC approved two memos from his ministry. Council has approved the commencement of negotiations after submission of the Outline Business Case (OBC) that was submitted by General Electric (GE). The transaction advisors will now commence negotiations with GE to conclude concession of the narrow gauge which starts from Lagos to Kano to Funtua, Kaura-Namoda and then from Port Harcourt to Maiduguri which includes Aba, Umuahia, Enugu, Markudi, Jos, Bauchi, Gombe unto
Maiduguri.
Council also approved that the same consultant that will supervise the construction of Lagos-Ibadan railway should also supervise the Kano-Kaduna railway when awarded.
Elizabeth Archibong
