Bagudu Calls For Community-Based Approach To Strengthen Intra-African Trade

Bagudu Calls For Community-Based Approach To Strengthen Intra-African Trade

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, has called for a community-driven approach to maximise the African Continental Free Trade Area (AfCFTA), emphasising that every Nigerian community holds tradable value capable of driving national and continental prosperity.

Speaking at the High-Level Plenary of the AfCFTA Public Sector, Private Sector, and Press (P3) Summit hosted by the Federal Ministry of Industry, Trade and Investment, Bagudu praised the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, for her long-standing commitment to promoting ease of doing business and for placing knowledge sharing at the centre of trade discussions.

“What may seem mundane—knowledge sharing—is central to Nigeria’s competitiveness under AfCFTA,” he said.

The minister emphasised that AfCFTA’s success depends on inclusive participation, not just by elites or large corporations, but also by local governments and wards that must identify tradeable goods in their communities and connect them to investors.

Using Kebbi State as an example, he highlighted how young entrepreneurs have revived groundnut oil production for export to Tunisia, the Benin Republic, and Ghana, while hundreds of trucks of onions leave the state daily for African markets.

“This is not just a Kebbi story; it is a Nigerian story,” he said.

Bagudu further reflected on Nigeria’s historic trade links across Africa, noting that the country’s geography and shared borders with Niger, Chad, Mali, and the Central African Republic provide immense opportunities for trade and investment.

He stressed that revitalising these exchanges can foster economic growth, peace, and regional stability, recalling how declining trade flows in northern Nigeria have contributed to tensions.

Bagudu praised President Bola Ahmed Tinubu’s bold, Africanist leadership in supporting trade-driven growth and celebrated Nigerians’ hardworking spirit—from fishermen and farmers to traders.

He concluded that, with proper support and integration into regional value chains, communities across Nigeria can collectively drive national prosperity and Africa’s economic future under AfCFTA.

Building on this, Oduwole highlighted Nigeria’s full readiness to implement AfCFTA, following the Federal Executive Council’s approval of the AfCFTA Protocol on Digital Trade, making Nigeria the first African country to ratify the digital trade protocol.

This move, she explained, opens doors for digital services firms and demonstrates Nigeria’s commitment to modern and inclusive trade.

She emphasised collaboration across government agencies, development partners, the private sector, and the media, noting their crucial roles in communicating opportunities to Nigerians.

She called for diversifying export assets, increasing value-added intra-African trade, and ensuring that communities, businesses, and workers across Nigeria benefit directly from AfCFTA.

The summit serves as a platform to align public and private sector strategies, monitor performance, and plan for expanded trade and investment across the continent.