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‘Africa’s Free Trade Area Worth $3.3trn’: Akinwumi Adesina

President of the African Development Bank, Akinwumi Adesina, has said that the biggest thing to happen to Africa is the African Continental Free Trade Area (AfCFTA), saying the free trade area itself is worth over 3.3 trillion dollars. Adesina, who stated this when he addressed State House correspondents in Abuja recently, expressed hope that the effective implementation of AfCFTA would take the continent to a greater height.

He also supported the creation of a single currency by the Economic Community of West African States (ECOWAS), named ‘ECO’, describing it as a great idea. On infrastructure deficit in Nigeria, Adesina advised the federal government to invest its idle pension funds estimated at N9. 56 trillion for infrastructural revolution in the country.

According to him, African countries with over 1.8 trillion dollars pension and sovereign wealth assets, can leverage on such huge resources to develop infrastructure in the continent. The AFDB president urged African leaders to explore the possibility of spending the funds by investing in infrastructure development. Adesina stated the bank is now better placed to continue to support the development of infrastructure across the continent.

source: dailytrust.com.ng