The Nigerian government has intensified its push for greater economic integration across West Africa, with senior officials calling for substantial investments in port infrastructure and digital trading platforms to unlock the region’s commercial potential.
Speaking at the West Africa Economic Summit (WAES) 2025 in Abuja on Friday, Minister of Industry, Trade, and Investment Jumoke Oduwole painted a stark picture of the current state of intra-African trade, revealing that inter-African commerce accounts for less than 20% of the continent’s total trade volume—a figure that pales in comparison to Asia’s 58% and Europe’s 67%.
The statistics are even more sobering for West Africa specifically, where trade among neighboring countries remains below 10% despite decades of integration efforts, shared borders, and common language clusters.
“West African businesses, especially micro, small, and medium enterprises, still face high costs at the border, inconsistent duties, and bureaucracy,” Oduwole told the summit audience. “These obstacles make it even more attractive to trade globally than with West African neighbors.”
Infrastructure and Digital Solutions Key to Progress
The minister’s remarks come on the heels of recent moves by the Nigeria Ports Authority to establish Export Process Terminals (EPTs)—facilities designed to serve as one-stop shops for cargo consolidation, documentation, and shipment through electronic systems. This initiative reflects the broader push toward streamlining trade processes that have long plagued regional commerce.
Oduwole emphasized that breaking down both tariff and non-tariff barriers requires coordinated investment in physical and digital infrastructure. “We need to support businesses not only to survive but to grow across borders, which means investing in infrastructure, ports, logistics corridors, and digital platforms that enable seamless trade,” she stated.
The call for digital transformation extends beyond basic connectivity. Trade intelligence and data systems are essential for helping producers understand regional demand patterns, pricing structures, and market opportunities—information that remains fragmented across the region’s diverse economies.
Financial Inclusion and Standards Harmonization
A significant portion of Oduwole’s address focused on financial access, particularly for women- and youth-led enterprises that face systematic exclusion from traditional credit systems. This demographic represents a substantial portion of West Africa’s entrepreneurial base but remains underserved by conventional financial institutions.
The minister also highlighted the critical need for harmonizing product standards across the region, arguing that regulatory consistency would boost both investment attraction and competitiveness. “Regional consistency will give investors confidence that rules will not change with every border crossing,” she explained.
Nigeria’s Policy Reforms Show Results
Under President Bola Ahmed Tinubu’s administration, Nigeria has implemented sweeping economic reforms, including subsidy removals, exchange rate unification, and enhanced implementation of African Continental Free Trade Area (AfCFTA) protocols. These measures, while initially disruptive, are beginning to show results in terms of investor interest.
Oduwole reported that Nigeria has tracked over $50 billion in investment interest since May 2023, with renewed attention from investors seeking scale, returns, and long-term value propositions.
In April 2025, following presidential approval, Nigeria gazetted its provisional schedule of tariff concessions for trading under the AfCFTA framework, demonstrating a concrete commitment to continental trade integration.
Regional Solidarity and Future Outlook
Minister of State for Foreign Affairs Bianca Odumegwu Ojukwu reinforced the message of regional cooperation, urging stakeholders to focus on concrete outcomes that will advance trade and investment across West Africa. She emphasized the need for “far-sighted integration policies and reforms” to safeguard the regional bloc and drive industrial expansion.
The summit’s theme, “One Market, One Future…Building Scalable Industries Across Borders,” reflects both the ambition and urgency behind current integration efforts. As Oduwole noted, the vision of a unified African market “is not simply an ideal, but a necessity.”
The challenge now lies in translating policy commitments into operational realities that can overcome decades of fragmented trade relationships and unlock West Africa’s estimated 400 million-person market for regional businesses and international investors alike.
WHAT YOU SHOULD KNOW
West Africa is essentially trading backwards—countries are doing more business with distant continents than with their immediate neighbors. This isn’t just a missed opportunity; it’s an economic crisis that’s keeping 400 million people from reaching their full potential.
Nigeria is pushing hard for change with major reforms and infrastructure investments, but real progress requires all West African nations to tear down the bureaucratic walls that make it easier to trade with Asia or other continents than with the country next door.
