Okonjo-Iweala: How Nigeria can lead AfCFTA
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 […]
