The Federal Government has reaffirmed its commitment to advancing digital trade under the African Continental Free Trade Area (AfCFTA) and called on global partners to support its efforts in expanding market access and economic growth.
Finance Minister Wale Edun met with EU Ambassador Gautier Mignot in Abuja to discuss €1.3 billion in trade investments. Edun highlighted Nigeria’s economic stability over the past 18 to 20 months and ongoing reforms to attract investment.
At the WTO Aid-for-Trade Session in Geneva, Aliyu Sheriff, Special Assistant to the President on Export Expansion, emphasized Nigeria’s position as a regional digital trade hub. “Nigeria recognises digital trade as key to economic diversification. Our goal is to expand market access and streamline trade processes under AfCFTA’s $4.3 trillion market,” he said. Sheriff also credited Trade Minister Dr. Jumoke Oduwole for driving Nigeria’s digital trade agenda and engaging with AfCFTA leaders on regional trade integration.
Sheriff urged the WTO and development partners to invest in broadband infrastructure, support MSME capacity-building, and enhance cross-border digital payments. “Nigeria is not just participating in Africa’s digital trade transformation; we are leading it,” he stated.
A Finance Ministry statement on X noted that Mignot underscored the EU as Nigeria’s largest trading partner and proposed a formal trade and investment dialogue. The meeting reviewed the EU’s €1.3 billion investment portfolio and efforts to deepen Africa-Europe economic ties through the Global Gateway Investment Strategy.
Edun reaffirmed Nigeria’s commitment to macroeconomic stability and investor-friendly reforms, projecting 4.6% GDP growth by 2025. Discussions also covered major projects like the Trans-Saharan Gas Pipeline and the National Single Window trade system.
In a separate virtual briefing, Edun disclosed that Nigeria’s economy had narrowly avoided collapse due to excessive reliance on illegal Central Bank loans. However, he highlighted economic improvements, including a 3.84% GDP growth rate in late 2024, declining inflation, and lower energy costs.
