The Nigeria Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA) has described the country’s trade policy as being obsolete, stressing it as part of the major hindrances confronting commerce and industrial activities of the country.

National Vice, President of NACCIMA, Alhaji Sanusi Maijamaa, who disclosed this over the weekend in an exclusive interview in Lagos, noted that the Chamber has been worried over the situation.

Maijamaa said; “At the national level, we are worried because we have a policy that is obsolete, which is the national trade policy, but I am happy that this government has done a lot towards updating it to suit the modern day global business, with the support of other stakeholders, utilizing the non-governmental trade organisations.

“They have reached a certain level, but we have to do more so that we can put a law and improved on the existing policies.  NACCIMA has done a lot and we have participated in some of the works to enhance these policies.

“The MSME policies have been on review severally, the National Industrial Policy has been on review periodically by the government. Also, the National Agricultural Policy, which is key, is what the government is putting in place to address the issue of the non-oil income to improve the economy. I want to believe that all these sectors have NACCIMA laid foundation of addressing and updating them for the Nigerian benefits.”

Commenting on the free trade zones, he said, Africa Continental Free Trade Agreement, (AfCFTA), he noted that Nigeria has contributed a lot and consulted with all the stakeholders, private and the public, intellectuals, donor agencies.

He said; “We met severally, and we discussed a lot about it and we gave our recommendation. The bottom line of our recommendation is that AfCFTA is an opportunity for Nigeria to expand its markets. Nigeria has markets for 54 nations to take advantage from in the AfCFTA.

He said the area Nigeria should be concerned about is how to regulate movement of goods and people within the terms and conditions of the agreement.