The Nigerian government is calling for increased investments in port infrastructure and digital platforms to enhance cross-border trade across West Africa. Speaking at the West Africa Economic Summit (WAES) 2025 in Abuja, Mrs. Jumoke Oduwole, Minister of Industry, Trade and Investment, highlighted the need to address challenges that hinder regional trade, especially for micro, small, and medium enterprises (MSMEs).
Mrs. Oduwole pointed out that high border costs, inconsistent duties, and bureaucratic hurdles continue to discourage trade among West African countries, despite shared borders and integration efforts. She emphasized that these obstacles make global trade more attractive than intra-regional commerce. To reverse this trend, she urged African governments to invest in infrastructure such as ports and logistics corridors, as well as digital platforms that enable seamless and paperless trade processes.
The Nigeria Ports Authority recently introduced Export Process Terminals (EPTs), designed to streamline export procedures by consolidating cargo handling, documentation, and certification into a single electronic system. This innovation aims to simplify exports and reduce delays at Nigerian ports.
Mrs. Oduwole also stressed the importance of access to finance for women- and youth-led businesses, which often face exclusion from credit systems. She called for harmonization of product standards and customs procedures across the region to boost investor confidence and competitiveness.
Under the leadership of President Bola Ahmed Tinubu, Nigeria is committed to the ECOWAS Trade Liberalization Scheme and the African Continental Free Trade Area (AfCFTA). The government has already gazetted provisional tariff concessions to facilitate trade under AfCFTA and is implementing fiscal and monetary reforms to attract long-term investment.
The WAES 2025 summit, initiated by President Tinubu and organized by Nigeria’s Ministry of Foreign Affairs, serves as a platform for dialogue and cooperation to unlock trade and investment opportunities in West Africa. It brings together heads of state, policymakers, business leaders, and innovators from across the region.
With these efforts, Nigeria aims to transform itself into a premier destination for investment and to foster scalable industries that drive sustainable economic growth in West Africa.
