Nigeria, Africa’s largest economy and most populous nation, has significant untapped potential to dominate the African Continental Free Trade Area (AfCFTA). Experts and stakeholders have called for a strategic overhaul of policies and infrastructure to position the country as a frontrunner in this historic trade pact.
Speaking on Nigeria’s role in AfCFTA, a freight forwarder and international trade expert highlighted the country’s potential to rival global production giants.
“With a population of 223 million, Nigeria is the single largest market in Africa. However, while our exports are growing, they remain disproportionate to our high import volumes. Nigeria has what it takes to become the ‘China of Africa’ in terms of production,” he said.
He also emphasized the need for Nigeria to take full advantage of AfCFTA, which has 54 signatories and serves over 1.3 billion people, making it the largest free trade area in the world by membership and population.
Addressing Geopolitical Concerns
The expert underscored the importance of fostering stronger diplomatic ties with neighboring Niger Republic.
“Our proximity to Mali and Algeria through Niger is an advantage. The Trans-Saharan Gas Pipeline, which connects Nigeria to Europe via Algeria, must remain a priority despite the current political instability in Niger. This project, estimated to cost $13 billion, is crucial for Nigeria’s energy exports,” he noted.
He urged President Bola Tinubu to strengthen diplomacy with Niger and other Sahelian nations, as disruptions caused by political instability could hinder Nigeria’s trade and infrastructural projects.
Smart Borders and Security
Nigeria’s porous borders remain a challenge, with over 364 entry points lacking modern surveillance and control measures.
“Smart borders, equipped with advanced technology like biometric profiling and cargo tracking, are critical for facilitating trade while ensuring security. Currently, no Nigerian border meets these standards, and this needs urgent attention,” he stated.
The emergence of new terrorist groups, such as Lakurawa, operating in border regions, poses additional threats to trade.
“Nigeria must rebuild confidence among trans-border traders by eradicating illegal armed groups. If traders avoid certain routes due to insecurity, logistics costs will rise, leading to inflation,” he warned.
Ports and Infrastructure for Export Readiness To enhance Nigeria’s competitiveness under AfCFTA, stakeholders called for the revival of moribund ports such as Burutu, Sapele, Koko, and Calabar.
“Dedicating more space for exports and revitalizing legacy ports will reduce dependence on congested Lagos ports and enhance Nigeria’s export readiness. The Nigerian Ports Authority (NPA) must act decisively,” he advised.
The expert also commended President Tinubu’s efforts to negotiate easier visa policies with South Africa but urged a similar approach with non-ECOWAS countries.
“Liberalized visa regimes across Africa will ease connectivity, reduce travel costs, and enable Nigerian traders to tap into wider markets,” he said.
In conclusion, he emphasized the urgency of industrialization, better infrastructure, and improved security to fully harness AfCFTA’s benefits.
“Nigeria has the size, resources, and potential to become the biggest beneficiary of AfCFTA. The time to act is now,” he declared.
