Nigeria recommits to regional trade as AfCFTA forum holds in Rwanda

By Yusuf Issa An-Nuphawi

The Nigerian Government as a State Party has reassured its commitment to deepening regional trade through the African Continental Free Trade Area (AfCFTA) which promises to improve continental integration, create jobs, and increase export earnings.

The National Coordinator, Nigeria AfCFTA Coordination Office, Olusegun Awolowo, gave the country’s reassurance at the ongoing second edition of the AfCFTA Business Forum, branded Biashara Afrika 2024, holding in Kigali, Rwanda.

Awolowo said Nigeria’s recent inaugural flag off of shipment from Apapa ports in Lagos to selected African countries under the AfCFTA’s Guided Trade Initiative (GTI), demonstrates the country’s commitment to forging a viable intra-Africa trade agreement.

Speaking with Daily Commerce on the sidelines of the trade summit, the representative of the National Coordinator, Olusegun Olutayo, Senior Trade Expert/Lead, Trade Enablement, Nigeria AfCFTA Coordination Office, stated that Nigeria has stepped up to take pride in trade as one of the continent’s largest economy with the most active market population.

The three-day summit, which began on Wednesday 9th October, 2024, featured a keynote address by Rwanda President Paul Kagame, who expressed confidence in the AfCFTA as a trade game changer for the African continent.

Biashara Afrika 2024, themed ”Dare to Invent the Future of the AfCFTA,” sought to boost African trade and economic progress by providing an engaging and vibrant platform for continued dialogue between African governments and private sector players, multinationals, and key stakeholders.

Addressing the delegates and businesses, AfCFTA Secretary-General, HE Wamkele Mene praised state parties for their renewed commitment to deepening intra-Africa trade, saying that the increase in the number of countries actively trading under the GTI /AfCFTA regime is a significant achievement.

Mene pointed out: “The Guided Trade Initiative, which facilitates the flow of goods among African states, has expanded participation from seven to 39 countries.”

“This raises signals growing commitment across the continent, with an increasing number of small-scale traders, including women, benefiting from new market opportunities,” he said.