By Edson Baraukwa | Africa Guardian
Emeka Obegolu, President of the Abuja Chamber of Commerce and Industry (ACCI), has urged the need for immediate action to remove barriers hindering intra-African trade and investment. His comments followed the conclusion of the Nigeria-Uganda Trade and Business Forum and the inaugural flight launch of Uganda Airlines from Abuja to Entebbe.
Obegolu stressed the importance of facilitating smoother business transactions among African nations by reducing visa fees and addressing other obstacles that impede economic growth across the continent. He highlighted high visa fees as a major barrier to African unity and integration, noting that a $200 visa fee poses a significant challenge to trade, investment, tourism, and cultural exchanges between Nigeria and countries like Uganda.
“The imposition of exorbitant visa fees, such as the $200 charge, hinders our ability to fully capitalize on trade and investment opportunities. We must strive to harmonize visa processes to ease business interactions among Africans,” he stated.
The ACCI president commended Uganda Airlines for successfully launching direct flights between Abuja and Entebbe, viewing this as a significant advancement in strengthening relations between Nigeria and Uganda. The new flight route has reduced travel time to just 3.5 hours, opening up enhanced possibilities for trade, tourism, and collaboration across various sectors.
Obegolu reaffirmed the chamber’s dedication to promoting sustainable economic development through regional cooperation. He assured stakeholders that the ACCI would continue advocating for policy reforms aimed at easing the business environment, which includes lowering trade barriers, simplifying visa processes, and improving transportation infrastructure—key elements in unlocking the full potential of intra-African trade.
He also called on policymakers, governments, and regional economic communities to take proactive steps to dismantle restrictive trade policies and foster conditions conducive to the growth of African businesses. According to Obegolu, reducing high visa fees would not only enhance trade and investment but also stimulate tourism and cultural exchanges, essential for sustainable economic development.
The Nigeria-Uganda Trade and Business Forum, held on September 13, 2024, gathered key stakeholders from both nations to explore avenues for deeper economic collaboration in sectors such as trade, investment, agriculture, manufacturing, mineral exploration, tourism, and technology.
___