A senior international trade policy and law expert, Mr. Olusegun Olutayo, has projected that Africa will require about $120.83 billion in investment for transport infrastructure and equipment by 2030 to ensure the effective implementation of the African Continental Free Trade Area (AfCFTA) agreement.
Olutayo, who heads the Nigeria AfCFTA Coordination Office, made this known during a Sub-Regional Seminar and Meeting of the Standard Committee No. 1 on Trade and Transport of the Union of African Shippers’ Councils (UASC), held in Lagos on Wednesday.
Citing findings from the Economic Report on Africa 2025, Olutayo stated that the continent must prioritise massive investment in transport systems to boost intra-African trade, facilitate logistics, and strengthen regional integration under AfCFTA.
“The continent requires $120.83 billion in transport equipment by 2030 to support AfCFTA’s streamlined regulations and strategic trade facilitation measures that will maximise the benefits of the agreement,” he said.
Olutayo underscored the vital role of shippers’ councils in promoting intra-African trade and enhancing transport connectivity across regions. He noted that West and Central African countries are currently at different stages of readiness in implementing AfCFTA, with some having established institutional frameworks while others are still developing their strategies.
As of 2024, he said, 42 State Parties and three Regional Economic Communities (RECs) have developed implementation strategies, with ECOWAS being among them.
“Intra-African exports are dominated by manufactured goods, which account for 46% of trade — showing huge potential for value addition compared to primary commodities,” Olutayo explained.
He added that ECOWAS is currently working on improving maritime connectivity through the development of new sea routes and the introduction of a digital certificate of origin to simplify trade documentation and procedures.
Olutayo emphasised that member states must align their domestic regulations with AfCFTA provisions to ensure smooth trade facilitation. This includes linking land and sea transport corridors, improving transit management, and strengthening collaboration with shippers’ councils.
He said:
“Shippers’ councils play a key role in ensuring efficient and low-cost transportation. Trade facilitation measures such as transparent customs procedures, simplified border protocols, harmonised transit systems, and automation are essential to achieving transport efficiency.”
He further highlighted the need for regulatory compliance, technology deployment, and digitalisation of shipping operations to enhance Africa’s continental supply chain and improve trade competitiveness.
The seminar, organised by the Nigerian Shippers’ Council, was themed:
“Readiness of Countries of West and Central Africa in the Implementation of the Agreement Establishing the AfCFTA: The Role of Shippers’ Councils.”
