Nigeria can emerge as a leader under the African Continental Free Trade Area (AfCFTA) if it tackles logistics bottlenecks, invests in value addition, and builds efficient payment systems, according to World Trade Organisation (WTO) Director-General, Dr. Ngozi Okonjo-Iweala.
Speaking at the WTO Public Forum in Geneva, Switzerland, Okonjo-Iweala urged Nigeria and other African nations to fast-track AfCFTA implementation, expand infrastructure, and cut trade costs to unlock billions of dollars in opportunities across manufacturing, services, and digital trade.
“The AfCFTA is a great step, but Africa still trades only 15–20% within itself, compared to 60% in the European Union. We need to accelerate implementation so Africans trade more with each other,” she said.
She cited examples such as Lesotho, which exports $200 million worth of textiles annually to the U.S.—about 10% of its GDP—while Africa imports $7 billion worth of similar goods. “Why not absorb these products within Africa?” she asked.
Okonjo-Iweala stressed the need for better infrastructure, efficient payment systems such as those being developed by Afreximbank, and reduced logistics costs. “It shouldn’t take longer to ship goods from Cape Town to Lagos than from China to Lagos,” she noted.
She added that value addition, diversification of exports, and investments in critical minerals, renewable energy, and new supply chains could transform Africa’s economic landscape. “There’s huge potential in services and digital trade—if we invest in connectivity and proper implementation,” she said.
On the global stage, Okonjo-Iweala cautioned against negative narratives overshadowing progress in trade. She highlighted the WTO’s recent success with the Fisheries Subsidies Agreement, which seeks to curb overfishing and protect marine resources.
“After eight years of no agreement, it has now gone into force. We can begin saving the oceans. This is not just about now, but future generations,” she said, adding that the breakthrough showed multilateral institutions can still deliver global public goods.
Looking ahead, she urged Africa to seize opportunities in services, digital technology, and artificial intelligence, while reaffirming WTO’s commitment to supporting African members in navigating emerging markets.
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