Enhancing financial services sector will grow Nigeria’s economy

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By Chinenye Offor

Abuja, May 5, 2022 The National Action Committee (NAC) for implementation of the African Continental Free Trade Area (AfCFTA), says enhancing the financial services sector will contribute to growing Nigeria’s economy.

Mr Ogo Chukwura, the Team Lead, Export Market Development of NAC on AfCFTA said this in an interview with the News Agency of Nigeria (NAN) in Abuja.

According to him, this will put Nigeria’s economy at par with countries that have sound economies.

“The Central Bank of Nigeria (CBN) has more than 35 different interventions which are stimulating the growth of economic activities and resources in the country.

“I believe that the various interventions will enable businesses scale up products and become more competitive,” Chukwura said.

He said that about 50 per cent of Nigeria’s economy was driven by services and this could provide opportunities for the country to leverage on to export services as a product.

“There are opportunities in financial services which include communication services, transport services, tourism and business services among others,’’ he said.

Chukwura said that these high priority areas had been identified by the African Union (AU) as opportunities and potential to be harnessed.

“We also see huge opportunities in the creative industry and Nigeria has immense capacity in that sector.

“We want to develop and make it available to the continent,’’ he said.