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AFCFTA will be beneficial for jobs creation, VP Osinbajo says

Vice President Yemi Osinbajo said the African Continental Free Trade Area agreement would be one of the critical components in jobs creation for the young people in the continent.

“The AFCFTA action agreement is a wonderful thing to happen at this time because of the increase in revenue that it will generate, particularly jobs for the young population in Africa,” Osinbajo said, represented by Folorunsho Coker, the Director-General of Nigerian Tourism Development Corporation, at the 4th National Tourism Transportation Summit and Exhibition in Abuja.

“It will also enhance the increase in disposable incomes for households, those increases we need and it is a good thing that we are in this collaborative agreement with 51 countries that have signed it.”

Osinbajo also touched on the benefit of Nigeria’s demographic bonus and the use of technology for better Africa.

“A lot of rules and regulations are a bit old; they need to be 2025 laws for us to be able to compete with the rest of African countries that recognised their laws. We need to review our laws, taking advantage of our population,” the VP added.

“Funding has to be well utilised in an appropriate technology at the appropriate time so that the country will not be left behind by its neighbouring countries or countries that seek to compete with us in goods and services. The new technology that needs to be brought to bear for the freedom with which we want people on goods and services to move across Africa.”

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