{"id":6285,"date":"2025-11-19T10:34:45","date_gmt":"2025-11-19T10:34:45","guid":{"rendered":"https:\/\/ograsset.com\/?p=6285"},"modified":"2025-11-19T10:34:46","modified_gmt":"2025-11-19T10:34:46","slug":"reforms-position-nigeria-as-continental-trade-powerhouse","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2025\/11\/19\/reforms-position-nigeria-as-continental-trade-powerhouse\/","title":{"rendered":"Reforms position Nigeria as continental trade powerhouse"},"content":{"rendered":"\n
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Reforms position Nigeria as continental trade powerhouse<\/h1>\n\n\n\n

PRESIDENT Bola Tinubu has said that the Federal Government\u2019s trade reforms, including the exchange rate unification, fuel subsidy removal, and port modernisation, among others, were designed to create a trade-friendly environment that could compete globally and power Nigeria\u2019s continental ambitions.<\/p>\n\n\n\n

This is even as the President charged African nations to dismantle inefficient borders, modernise their customs systems, and commit to a unified trade architecture capable of reshaping the continent\u2019s economic future.<\/p>\n\n\n\n

In a statement on Tuesday by the National Public Relations Officer of the Nigeria Customs Service, Abdullahi Maiwada, the President stated this on Monday while declaring open the maiden Customs Partnership for African Cooperation in Trade Summit held at the State House, Abuja.<\/p>\n\n\n\n

Tinubu, who was represented at the event by the Vice President, Kashim Shettima, said Africa\u2019s prosperity depends on deliberate reforms that convert its large market and population into a functional economic bloc.<\/p>\n\n\n\n

\u201cThe administration\u2019s reform, exchange rate unification, fuel subsidy removal, port modernisation, and stronger customs digitalisation were designed to create a trade-friendly environment that could compete globally and power Nigeria\u2019s continental ambitions,\u201d Tinubu said.<\/p>\n\n\n\n

The President told delegates that Africa must replace fragmented markets with coordinated policy implementation, stressing that every country must demonstrate political will, institutional alignment, and the readiness to deploy technology that simplifies trade.<\/p>\n\n\n\n

Tinubu stated that Nigeria\u2019s National Single Window, set to go live in March 2026, will significantly reduce clearance timelines from 21 days to under seven, thereby fully aligning the country with the AfCFTA\u2019s digital trade requirements and positioning Nigeria as a standard-setter in port automation.<\/p>\n\n\n\n

He urged African governments to transform commitments into measurable outcomes that traders, manufacturers, and logistics operators can feel daily, \u201cIntegration cannot be declared. It must be engineered.\u201d<\/p>\n\n\n\n

Earlier, the Comptroller-General of Customs, Adewale Adeniyi, said the extension of his mandate by President Tinubu included key performance indicators directly tied to the implementation of the African Continental Free Trade Area.<\/p>\n\n\n\n

Adeniyi stated that the Nigeria Customs Service, over the last three months, intensified its engagement with customs administrations across Africa to ensure that Customs is properly integrated into the AfCFTA implementation structures.<\/p>\n\n\n\n

He recalled recent engagements in Ghana with the AfCFTA Secretariat, emphasising that customs must drive rules of origin enforcement, preferential duty implementation, and trade preference administration, \u201cCore elements that determine whether AfCFTA works in reality or remains aspirational.\u201d<\/p>\n\n\n\n

The CGC stated that implementing a free trade agreement requires significant capacity building and a strong political commitment, as it involves the progressive suspension of customs duties among member states.<\/p>\n\n\n\n

He explained that past regional integration efforts, including the Economic Community of West African States Trade Liberalisation Scheme, suffered setbacks because participating countries failed to implement commitments consistently, stressing that AfCFTA must avoid that pattern.<\/p>\n\n\n\n

According to him, African economies are divided into regions with varying levels of readiness, adding that recent engagements have helped build consensus that customs must sit at the centre of AfCFTA execution.<\/p>\n\n\n\n

Adeniyi said his persistent advocacy for customs inclusion at continental meetings led to the emergence of C-PACT, a framework designed to foster direct partnerships among African Customs administrations, private-sector operators, regulators and international partners. He said Nigeria\u2019s export volume has increased by more than 30 percent in two years, and the objective now is to redirect more of that trade into African markets where the opportunities are larger and the impact on continental growth is more meaningful.<\/p>\n\n\n\n

Adeniyi further commended AfreximBank, the AfCFTA Secretariat, the Nigerian Export Promotion Council, commercial banks, NPA and other agencies for aligning with the customs service to deepen trade facilitation.<\/p>\n\n\n\n

He also announced that 30 African Customs administrations have registered for the conference, including 22 represented at the Director-General level, with strong participation from West, Central, East, Southern and North Africa.<\/p>\n\n\n\n

He added that for the first time, the Secretary-General of the World Customs Organisation is attending a Nigeria-hosted Customs conference, signalling strong global support for Nigeria\u2019s leadership role.<\/p>\n\n\n\n

He said the conference will begin with private-sector sessions to understand the challenges traders face, including non-tariff barriers, cargo delays and inconsistent implementation of trade preferences across Africa.<\/p>\n\n\n\n

Representing the Minister of Finance, Dr Wale Edun, the Minister of State for Finance, Doris Anite, stated that customs reforms are central to Nigeria\u2019s fiscal transformation. She said efficient border operations reduce the cost of doing business, boost investor confidence, and help Nigeria compete in regional and global markets.<\/p>\n\n\n\n

Anite noted the government\u2019s support for complete digitisation of Customs operations, improved risk management systems, and harmonisation with global standards.<\/p>\n\n\n\n

The Minister of Trade, Investment and Industry, Jumoke Oduwole, said the AfCFTA remains Africa\u2019s most crucial economic instrument but warned that structural delays and outdated systems still hinder its impact.<\/p>\n\n\n\n

She highlighted reforms undertaken with the NCS, including tariff concession schedules and a dedicated air-cargo export corridor to East and Southern Africa.<\/p>\n\n\n\n

World Customs Organisation Secretary-General, Ian Saunders, said Africa\u2019s economic forecast for 2025 shows strong growth, but the continent\u2019s ability to harness that potential depends heavily on Customs efficiency.<\/p>\n\n\n\n

Recalling one of the WCO mottoes: \u201cBorders divide; Customs connects,\u201d Saunders said the C-PACT aligns closely with WCO\u2019s mission to support Customs administrations globally through standards, capacity building, and operational guidance.<\/p>\n\n\n\n

Meanwhile, AfreximBank\u2019s Executive Vice President for Intra-African Trade, Kanayo Awani, stated that the bank is supporting customs modernisation across Africa, including transit-bond guarantees, digital tracking systems, and the AfCFTA Adjustment Fund to help countries offset tariff revenue losses. She said Africa cannot realise the benefits of AfCFTA without harmonised systems and interoperable customs operations.<\/p>\n\n\n\n

AfCFTA Secretary-General, Wamkele Mene, said that implementing the agreement\u2019s annexes on Customs cooperation, transit, and trade facilitation requires customs leadership at every stage.<\/p>\n\n\n\n

He praised Nigeria\u2019s leadership and the CGC\u2019s role as Chair of the WCO Council, stating that Africa relies on Customs to translate trade rules into practical border outcomes that lower costs, reduce bureaucracy, and protect market access for African products.<\/p>\n\n\n\n

C-PACT (Customs Partnership for African Cooperation in Trade) is a major continental conference organised by the Nigeria Customs Service in collaboration with Afreximbank and supported by the World Customs Organisation. The 2025 edition is scheduled for November 17\u201319, 2025, in Abuja, Nigeria. The conference is designed to strengthen customs cooperation across Africa, particularly under the African Continental Free Trade Area framework.<\/p>\n\n\n\n

Source:<\/em> https:\/\/punchng.com\/reforms-position-nigeria-as-continental-trade-powerhouse<\/em><\/p>\n\n\n\n

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Reforms position Nigeria as continental trade powerhouse PRESIDENT Bola Tinubu has said that the Federal Government\u2019s trade reforms, including the exchange rate unification, fuel subsidy removal, and port modernisation, among others, were designed to create a trade-friendly environment that could compete globally and power Nigeria\u2019s continental ambitions. This is even as the President charged African… <\/p>\n

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