FG Strengthens AfCFTA Coordination To Boost Trade And Nigerian Businesses

FG Strengthens AfCFTA Coordination to Boost Trade and Nigerian Businesses The Federal Government is intensifying coordination of Nigeria’s participation in the African Continental Free Trade Area AfCFTA, with renewed efforts to help Nigerian businesses expand production, improve competitiveness and access markets across Africa. The government says stronger coordination among relevant agencies, businesses and other stakeholders is essential to ensuring that Nigeria fully benefits from the continent’s single market. The renewed push is being driven by the Federal Ministry of Industry, Trade and Investment and the Nigeria AfCFTA Coordination Office, with particular attention being paid to the challenges businesses face when exporting to other African countries. among the major obstacles identified are export documentation, certification, standards compliance, market access and financing. The government says efforts are underway to simplify procedures and provide businesses with clearer guidance on how to take advantage of AfCFTA opportunities. A major component of the strategy is the $1 billion AfCFTA Adjustment Fund Credit Facility, designed to support businesses seeking to expand production, modernise operations, strengthen competitiveness and participate more effectively in intra-African trade.The facility is particularly aimed at larger African businesses, with a minimum financing threshold of $10 million. It is expected to support areas including business expansion, working capital, project development and integration into regional value chains. The Federal Government is also working to strengthen Nigeria’s legal and regulatory framework for AfCFTA implementation. Particular attention is being given to the domestication of key protocols, including the Digital Trade Protocol, as Nigeria seeks to position its businesses to benefit from Africa’s growing digital economy. Another area of focus is trade facilitation. Government agencies, including the Nigeria Customs Service and the Nigerian Export Promotion Council, are being encouraged to work more closely to reduce bottlenecks and make export processes easier for businesses. The Nigeria AfCFTA Coordination Office has also stepped up sensitisation programmes to ensure that entrepreneurs understand the practical requirements for entering African markets. Recent sensitisation activities in Kano reportedly attracted more than 470 businesses, including strong participation from women-led enterprises. The office has also introduced an AfCFTA ABC Series designed to provide businesses with practical information on export procedures and market opportunities. Nigeria has also expanded its Air Cargo Corridor Initiative to Rwanda, providing another potential route for Nigerian products to reach African consumers more efficiently. The government says stronger air-cargo links, combined with improved trade procedures and greater private-sector participation, could help Nigerian producers access markets that have traditionally been difficult or costly to reach. The AfCFTA framework offers Nigerian companies access to a continental market of more than one billion people. For businesses capable of meeting required standards and rules of origin, the agreement provides opportunities to expand beyond Nigeria and develop regional supply chains. However, officials acknowledge that simply having access to the continental market is not enough. Nigerian manufacturers and exporters must be able to produce competitively, meet international standards, obtain appropriate certification and secure sufficient financing. The Federal Government’s strengthened coordination is therefore aimed at moving Nigeria from simply participating in AfCFTA to maximising the agreement’s potential for industrialisation, export growth and job creation. With improved collaboration between government agencies and the private sector, officials believe Nigerian businesses can play a stronger role in continental value chains while increasing the volume and diversity of the country’s non-oil exports. The government has consequently reaffirmed its commitment to ensuring that AfCFTA becomes a practical tool for Nigerian businesses, particularly manufacturers, exporters, women entrepreneurs and other enterprises seeking to scale into African markets.