AfCFTA Energy Summit – Nigerian AfCFTA Energy Summit

NIGERIAN LOCAL CONTENT
AFCFTA ENERGY SUMMIT

…Empowering Africa's Energy Landscape Through Trade

MONDAY, TUESDAY12th – 13th Feb, 2024 LAGOS, NIGERIA

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AfCFTA As a Catalyst for Africa’s Energy Economic Growth

Delegates

Deal Rooms

Expert Speakers

Networking Hours

ABOUT THE SUMMIT

Being the biggest economy and the most populous nation in Africa, Nigeria has a unique and critical role to play towards the realization of the African Union Agenda 2063 – The Africa We Want- An integrated, prosperous and peaceful Africa driven by its own citizens,representing a dynamic force in the international arena.

Nigeria finds herself in an exciting yet challenging position in history occasioned by the advent of the African Continental Free Trade Agreement (AfCFTA) which has given impetus to a need for enhanced & effective collaboration in business, trade, and investment. While this opens significant opportunities for Africa, Nigeria is in pole position to reap the benefits of the AfCFTA pie. Successive Nigerian governments through our local content development and backward integration initiatives and with the full commitment of the private sector have consistently grown our productive capacities especially in services, food production and industry.

THOUGHTFUL LEADERSHIP

NIGERIAN LOCAL CONTENT AFCFTA ENERGY SUMMIT

It is with immense pride that we, as the organizers of this esteemed conference, stand at the forefront of driving innovation,collaboration, and growth in the energy sector.

At the heart of the Nigerian Local Content AfCFTA Energy Summit, 2023 lies a visionary endeavor—a convergence of aspirations and ideas that transcendborders. Our vision is to cultivate a powerful synergy within the energy industry, uniting stakeholders, innovators, and leaders on a singular platform.

This summit encapsulates a future where barriers dissolve, paving the way for robust partnerships, sustainable solutions, and collective progress. With unwavering commitment,we invite you to join us in this transformative journey toward a more sustainable and a prosperous energy landscape.

Engr Felix Omotsola Ogbee
Executive Secretary
NCDMB

The embrace of the African Continental Free Trade Area (AfCFTA) agreement marks a pivotal moment in our mission at the Nigerian Content Development and Monitoring Board (NCDMB), where we recognize the critical role of research and development in unlocking the vast potential of intra-African trade, particularly within the energy sector.

Through the elimination of tariffs on 90% of tariff lines and the establishment of transparent product origin regulations, AfCFTA holds the key to propelling industrial growth, nurturing regional supply chains, and catalyzing approximately $450 billion in income gains across our continent.

This summit serves as a platform to educate and empower all stakeholders within the energy sector, aligning our industry with these opportunities. By leveraging research-backed insights, we can refine our approaches, optimize resource allocation, and ensure the growth of businesses in our industry.

Abdulmalik Halilu
Director
Monitoring And Evaluation
NCDMB

The adoption of the agreement establishing the African Continental Free Trade Area (AfCFTA) by the Heads of State within the African Union signifies a momentous stride in tackling the persistent barriers that have obstructed intra-African trade for numerous decades.

Through the removal of tariffs on 90% of tariff lines and the implementation of specific rules defining the origin of products, the AfCFTA is poised to propel industrial growth by leveraging the advantages stemming from economies of scale, specialization, and the advancement of regional supply chains and value networks.

Forecasts indicate that the reduction in tariffs, coupled with the eradication of non-tariff barriers— particularly at borders—has the potential to unleash roughly $450 billion in income gains for the continent.

Out of this total, approximately $292 billion is expected to stem from the simplification of border processes, facilitating smooth trade, and enabling the fluid movement of people across Africa.

The focus of the African Continental Free Trade Area Energy Summit is to educate stakeholders within the oil and gas sector about the opportunities presented by the Nigerian AfCFTA Implementation Strategy.

By engaging a diverse audience of stakeholders, funders, investors, and private sector representatives spanning the entire spectrum of oil, gas, LNG, renewables, power, and energy, the summit will deliver a comprehensive strategy that outlines a meticulous roadmap for Nigerian energy participants to harness the opportunities provided by the AfCFTA Agreement and its diverse protocols.