Lucky Fibers, a subsidiary of Tolaram Group, has exported Nigeria’s first African Continental Free Trade Area (AfCFTA) hair to Kenya.
Lucky Fiber is a Lagos-based manufacturer of hair products, carpets and rugs.
However, the firm’s deliveries have been delayed due to incomplete information and failure to properly describe or explain the product.
The National Public Relations Officer of the Nigerian Customs Service (NCS), Abdullahi Maiwada, said in an exclusive interview with Business Daily that the issue had caused a 24-hour delay in the release of the consignment.
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“The only challenge experienced is the poor documentation on the declaration by the exporter. The products to be exported were not properly described and the quantities were not accounted for. This caused a delay of release of the shipment by 24hrs,” he said.
However, he said the issue was eventually resolved when export documents were updated to meet the required standards to ensure shipments could be completed.
Speaking on how customs will ensure that AfCFTA products comply with local standards and regulations, and how this will be ensured in countries like Kenya, Maiwada said the Bureau of Security (CGC) has sent senior officers to AfCFTA units across the country to monitor.
Launched in 2021, the AfCFTA is a trade agreement that aims to create a continental market for goods and services for 54 of the 55 African Union (AU) member states. It is said to be one of the world’s largest business hubs by number of participating countries.
Paul Alaje, chief economist at SPM Professionals, said, “The export to Kenya will boost the trade relationship between both countries, given that Nigeria is in the west, and Kenya in the east. It’ll also create more jobs, which is a good development, as this will help boost economic productivity for both countries.”
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Alaj said the Ministry of Trade and Industry should launch a programme to support micro, small and small businesses to help Nigerian businesses compete globally.
“We need to raise awareness and provide financial support and support to producers,” he said. For me, when the environment is good, business is affected a lot.
