Nigeria’s Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, has reaffirmed Nigeria’s commitment to strengthening its role as a continental leader in trade-led economic integration, declaring that the African Continental Free Trade Area remains central to the nation’s industrial and economic ambitions.
Speaking at the inaugural AfCFTA Public–Private–Press Summit, designed to deepen understanding of the AfCFTA framework and rally national stakeholders toward achieving Item 7 of President Bola Tinubu’s Renewed Hope Agenda on Monday in Abuja, Oduwole said that the summit was convened to align national efforts behind a coordinated vision for economic transformation.
“As we move towards the end of this year, this Summit is our platform to align our vision. We must ensure that our collective efforts, going forward, are intentional and coordinated towards achieving our economic agenda,” she said.
The Nigerian minister described the AfCFTA as one of the most ambitious economic integration projects globally. According to her, the agreement connects a combined GDP of approximately $3.4tn and a population of 1.4bn people, most of them young, energetic, and eager to participate in a modern African economy. “The key argument for the AfCFTA is simply that Africa retains more value when she trades with herself,” she stated. “By implication, our economic ambitions are inseparable from our participation in the AfCFTA market.”
Oduwole recalled that the AfCFTA Agreement came into force in May 2019 after ratification by 22 African Union member states, with Nigeria formally ratifying the agreement in 2020. She noted that 48 AU member states, representing 87 per cent of African countries have now ratified the agreement, a development she described as evidence that “our One African Market is coming to life.”
She also highlighted Nigeria’s historic role in championing regional integration, referencing foundational instruments such as the Lagos Plan of Action of 1980 and the 1991 Abuja Treaty, both of which were birthed in Nigeria.
“It was also here in Abuja that the negotiations for the AfCFTA Agreement were concluded in 2017,” she said.
Oduwole assured the participants that the Federal Ministry of Industry, Trade, and Investment and the AfCFTA Central Coordination Committee would continue to position Nigeria as a dynamic leading player in the continental market.
She noted that 2025 had been a year of focused and relentless work to ensure that Nigeria meets its obligations and maximises emerging opportunities.
Speaking on recent achievements, the minister announced that Nigeria had secured the hosting rights for several major continental trade events. “These include the second edition of the AfCFTA Forum, scheduled for Lagos in 2026, and the prestigious Intra-African Trade Fair 2027, won in partnership with the African Export–Import Bank, the African Union Commission, and the AfCFTA Secretariat. “Nigeria will host Africa’s largest marketplace,” she declared.
She disclosed that her ministry had launched a dedicated Exports Air Cargo Corridor to East and Southern Africa in collaboration with Uganda Airlines, the Nigeria Customs Service, and the UNDP.
According to her, the corridor has significantly reduced cargo rates. “This Corridor reduced cargo rates by 50 per cent to 75 per cent, in comparison to prevailing market rates,” she said.
GIK/APA