Flour Mills, Tolaram Group pioneer AfCFTA exports from Nigeria

NIGERIA — Flour Mills of Nigeria (FMN) and Tolaram Group are making headlines as they spearhead Nigeria’s inaugural exports under the African Continental Free Trade Area (AfCFTA).

This landmark achievement marks a significant step in Nigeria’s transition from planning to active trade under the AfCFTA agreement, which officially commenced intra-African trade on July 16.

The AfCFTA, the world’s largest trade area by GDP, encompasses a market of approximately US$3.4 trillion and 1.3 billion people.

The Guided Trade Initiative (GTI), a key component of the AfCFTA protocol, is designed to facilitate meaningful trade by matching businesses and products for export and import among state parties that have met the minimum trade requirements.

Flour Mills of Nigeria, a diversified conglomerate based in Lagos, made its debut by exporting native starch to Algeria. Under the leadership of Omoboyede Olusanya and chaired by John G. Coumantaros, FMN’s export underscores the company’s commitment to leveraging regional trade opportunities to expand its market reach.

Tolaram Group, known for its Indomie Instant Noodles and recently acquiring Diageo’s stake in Guinness Nigeria, contributed to the first AfCFTA exports by shipping wrappers to Egypt. The group’s strategic move highlights its role in diversifying and expanding Nigeria’s export footprint across the African continent.

Other notable Nigerian companies that participated in this historic export wave include Dangote Group, which sent clinkers to Cameroon; Secure ID Limited, which exported smart cards to Cameroon; Avila Naturalle, which shipped black soap and shea butter to Kenya; and Le Look Nigeria Limited, which exported bags to Kenya.

Le Look, founded by female entrepreneur Chinwe Ezenwa, was the first company to receive an AfCFTA Certificate of Origin, a crucial document that facilitates trade under the AfCFTA protocol.

The AfCFTA represents a transformative opportunity for African businesses, enabling them to tap into a vast and growing market. The successful export shipments from Nigeria are a testament to the country’s readiness to embrace and benefit from this expansive trade agreement.

Olusegun Awolowo, national coordinator of the National AfCFTA Coordination Office, remarked on the significance of the launch, emphasizing that it demonstrates Nigeria’s preparedness to engage in formal trade beyond the Economic Community of West African States (ECOWAS) countries.

The GTI aims to provide a clear timeline for goods to reach their destination countries, paving the way for increased regional trade integration.

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