By Angela Atabo
Some experts at the Pan-African Economic and Investment Summit in Abuja on Wednesday called for a seamless trans-border trade to boost African economy.
They stressed the need for Africa as countries and people to unite as one black race and believe in themselves to discourage massive consumption of foreign products in Africa.
The News Agency of Nigeria (NAN) reports that the summit themed “Driving Africa’s Economy for Inclusive Growth, Prosperity and Sustainable Development” was organised by the African Union Agenda 2063 Ambassadorial Assembly.
In his keynote address, Dr John Pakka, who said African economy had been stolen long ago through maximum consumption of foreign products, urged
African governments to unite and work towards seamless trans-border trade in the continent.
According to him, what happen in Africa right now is that trans-border trade in Africa is highly frustrating than any trade in the whole world. I always repeat this.
“One container export from Nigeria to China, the highest it will cost you is 700 dollars which is not more N1.2 million
“Go and load one truck of goods from Seme border. If you just want to cross inside Cotonou, the minimum you spend, first and foremost from Nigerian point of view, you pay N900,000 if you are carrying one truck.
“Now, N900,000 also transit border between Nigeria and Cotonou conventionally by equal trade liberalisation is 357 dollars when you multiply it by 2.5 is almost going to another one million plus.
“Now, when you put together, in less than 10 kilometres between Seme border and Benin Republic, you are paying almost N2 million just to cross your goods. And we are calling ourselves Africa. And we are yearning for growth.
“And we want to work, prosper. That is the biggest challenge. Let me tell you, when you want to go further and cross from Nigeria, maybe you want to go to Togo, is the worst case scenario.
“Let me tell you, the minimum you spend, you spend averagely N8 million, just one truck. N8 million between Africa. Now, that N8 million, you can ship almost five containers of raw material to China.You cannot add one Naira on it. Now, this is a strategy.”
According to him, our economy is dying every now and then. We have become consumers to the apex. We don’t produce.
“And the problem of production is lack of competitive market that we have in Africa.
“Now, if you are carrying one truck of goods from Nigeria, you want to take it either to Ghana, and you are spending N10 million, tell me, what is the possibility of you to make it? That is the major challenge that we have.
“And if we cannot do trans-border trade in Africa, where are we going to do trans-border trade? If we cannot build our capacity in Africa, how are we going to strengthen the Africa that we are talking?
Speaking on the economic meaning of Agenda 2063, Dr Stephen Ben-Joel, Head of Mission, African Union Agenda 2063, said the agenda called for the creation of a strong integrated African market.
“Economically, Agenda 2063 calls for the creation of a strong integrated African market where Africans trade with Africans, build industries and add value to what we produce.
“Today, Africa exports raw materials and imports finished products. Gold leaves our shores and jewelries return at 10 times the price. Cocoa leaves places like Nigeria, Ghana, but chocolate factories are in Europe.
“This is the old Africa. We must begin to produce. We must begin to refine.
We must begin to add value to what’s our raw materials. That’s the way we can achieve the Africa we want.”
Also speaking, Dr Sule-Iko Sadeeq, Co- Chairman of the occasion, described the summit as a statement of resolve, and a continental awakening that affirms Africa’s readiness to take ownership of its position as a global powerhouse of innovation, enterprise, and opportunity.
According to him, for too long Africa has been defined as a potential rather than it is performance, but today the narrative is gradually changing.
“Through the collective will of our entrepreneurs, the vibrancy of our youth, the resilience of our people, of course, and Africa stands as a threshold of a new dawn,” he said. (NAN)
Edited by Deji Abdulwahab
