The Federal Government has announced that the African Continental Free Trade Area (AfCFTA) has progressed beyond negotiations into a full implementation stage, calling on Nigerian entrepreneurs and digital businesses to take advantage of emerging cross-border trade opportunities across Africa.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, made the appeal during the Biashara Africa 2026 forum, where she emphasized the need for African countries to remove persistent barriers limiting trade and investment within the continent.
She stated that while African nations have spent years agreeing on frameworks and protocols, the current focus must shift toward practical execution that translates into real economic growth for businesses and citizens.
Oduwole, who also serves as the incoming Chair of the AfCFTA Council of Ministers, noted that recent policy reforms across Africa show increasing commitment to regional integration and economic cooperation.
A key example highlighted at the forum was Togo’s decision to remove visa requirements for African passport holders and investors on short visits, a move described as a major step toward improving mobility and strengthening intra-African trade relations.
She praised the decision, saying it reflects a broader shift from policy discussions to actionable reforms that support the creation of a unified African market estimated to serve over 1.4 billion people.
According to her, reducing travel restrictions and easing cross-border movement will help eliminate bureaucratic challenges that have long hindered trade, investment, and business collaboration across African countries.
She further stressed that the success of AfCFTA will depend not only on government action but also on the ability of businesses, innovators, and startups to expand beyond domestic markets and integrate into continental value chains.
As part of efforts to accelerate implementation, she announced the AfCFTA Startup Acceleration Programme 2026, developed in partnership with the AfCFTA–Korea Africa Foundation, aimed at supporting 30 high-growth African startups seeking international expansion, particularly into South Korea.
The initiative is expected to help participating startups improve competitiveness, strengthen business models, and access global markets, with Nigerian companies in fintech, agritech, logistics, e-commerce, manufacturing, and digital services identified as key beneficiaries.
The minister encouraged eligible Nigerian startups to apply, describing the programme as a major opportunity to position themselves within Africa’s expanding digital trade ecosystem.
AfCFTA, which began trading operations in 2021, remains one of the largest free trade zones in the world, bringing together 54 African countries to boost intra-continental trade and industrial growth.
However, experts continue to highlight challenges such as infrastructure gaps, visa restrictions, logistics inefficiencies, and regulatory inconsistencies that still limit trade within Africa compared to other global regions.
Nigeria, as Africa’s largest economy, is expected to play a central role in shaping the agreement’s success due to its large consumer base, growing digital economy, and expanding startup sector.
