Private sector told to deliver AfCFTA’s trillion-dollar promise
Business executives and government representatives called for commercial enterprises to drive the implementation of the African Continental Free Trade Area during a gathering in Lagos. Speakers at the NEPAD Business Group Nigeria forum emphasized that achieving the accord’s $3.4 trillion potential requires entrepreneurial leadership rather than relying solely on diplomatic frameworks.
Lagos Governor Babajide Sanwo-Olu said trade expansion depends on corporate action beyond signed treaties. National Coordinator Jabiru Salisu Abdullahi of AUDA-NEPAD Nigeria noted the agreement creates access to 1.4 billion consumers with a combined economic output exceeding $3 trillion. African Business Roundtable President Samuel Dossou-Aworet cited projections showing continental growth reaching 4.4 percent by 2026, making the region the second-fastest expanding economy after Asia. He warned that rapid expansion has not yet meaningfully reduced poverty levels.
Small and Medium Enterprises Association President Abdulrashid Ibrahim Usman Yerima urged strengthening cooperative networks to help smaller firms compete across borders. Forum Chairman Bashorun J.K. Randle stated the meeting aimed to align government actions with business needs while promoting manufacturing and cross-border investment.
