By Omoyeni Ojeifo
Nigeria has proposed five measures to remove barriers to intra-African trade, expand trade finance and strengthen regional value chains across the continent.
Amb. sola Enikanolaiye, the Minister of State for Foreign made the proposals on Friday, at the Ministerial Roundtable on “Trade and Economic Cooperation at the Centre of Pan-African Diplomacy.”
The roundtable was held at the inaugural Africa-Alamein Business Forum (Go63) in New Alamein City, Egypt, which runs from October 2 to 4.
Enikanolaiye proposed making trade facilitation a standing item in Pan-African diplomatic engagements, tackling non-tariff barriers and widening trade finance for SMEs, women and young people.
He also called for investment in transport and energy corridors, development of regional value chains and a unified African position in external trade negotiations.
“For too long, we treated trade and diplomacy as separate tracks. Our partnerships endure only when they rest on shared economic interests,” he said in a statement emailed to PerSecondNews on Saturday by Raphael Elesho, Special Adviser, Media and Communications to the minister.
The minister identified the African Continental Free Trade Area, AfCFTA, as the continent’s most important trade instrument, citing steps Nigeria has taken to advance its implementation.
“Nigeria has validated its AfCFTA Implementation Strategy, gazetted its tariff concessions, submitted services commitments and ratified the Digital Trade Protocol in November 2025, he stated.
He also cited a new air cargo corridor involving Uganda Airlines and the United Nations Development Programme, UNDP, which has reduced freight costs by between 50 and 75 per cent.
Enikanolaiye stressed that stronger intra-African trade would also require accessible financing, highlighting the roles of the African Export-Import Bank, Afreximbank, and the Pan-African Payment and Settlement System, PAPSS.
He also disclosed that the Central Bank of Nigeria, CBN, directed banks to adopt PAPSS from April 2025 to facilitate local-currency settlement for transactions.
The minister further highlighted Nigeria’s economic reforms, including fuel subsidy removal, foreign exchange unification and fiscal strengthening, which he said supported 4.43 per cent growth in Q2 2026.
According to him, inflation fell to 15.39 per cent in August, while Nigeria’s foreign reserves stood at $54.86 billion as of September 24, 2026.
The National Single Window became operational on March 27, 2026, while the Nigeria Tax Act, consolidating more than 60 levies, took effect on January 1, 2026.
On Nigeria-Egypt economic relations, Enikanolaiye said bilateral trade reached $223 million in 2025, describing the figure as below the potential of both countries.
He called for implementation of the July 2025 Nigeria-Egypt Business Forum and progress on the proposed Joint Investment Council.
Im his remarks earlier, the Egyptian Prime Minister H.E. Dr. Mostafa Madbouly opened the Forum, describing it as a platform for governments, the private sector, financial institutions and development partners.
Egypt’s Minister of Investment and Foreign Trade, H.E. Mohamed Farid, also called for cooperation to develop an integrated African automotive industry.
The Go63 Forum, organised by Egypt, Afreximbank and AUDA-NEPAD, is designed as a permanent biennial platform for converting African integration priorities into investments and concrete projects.
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