The federal government has expressed the country’s readiness to lead the African Continental Free Trade Area (AfCFTA) through creating a strong, viable, productive and competitive economy; unlocking the productive potential of women-led enterprises at a larger scale and ensuring inclusion, access to capital.
Ministers and other stakeholders gave this indication at the “Colloquium In Honour Of Women’s Role In Industry, Trade And Investment’ with the theme: ‘Positioning Nigeria To Lead Intra-African Trade’ held at the National Assembly Library Complex, Abuja on Friday.
In her remarks, the minister of industry trade and investment, Dr Jumuoke Oduwole said, as Nigerian speak about industrialisation and intra-African trade, it must confront the powerful truth of harnessing women’s immense potentials and utilise them optimally.
“The African Continental Free Trade Area is no longer a conceptual aspiration. It is operational architecture: a $3.4 trillion market of 1.4 billion people, representing the largest free trade area in the world by number of participating countries. But let us be clear: markets do not create prosperity. Production does.Trade agreements do not industrialise nations. Competitive enterprises do.
“Nigeria’s ambition under AfCFTA is not to be a passive consumer market. It is to become a production hub; manufacturing, processing, innovating and exporting at scale. Today, manufacturing contributes approximately 13–14 per cent to Nigeria’s GDP. In industrialised economies, that figure is closer to 20–25 per cent.
“The gap is not merely statistical. It represents unrealised factories, unrealised exports, and unrealised jobs. Closing that gap is the mandate of our new Nigeria Industrial Policy.
“Women already dominate large segments of Nigeria’s real economy. Across retail, textiles and garments, agribusiness processing, nutrition systems, and light manufacturing, women-led MSMEs are deeply embedded in value chains. There are over 8 million women-led MSMEs in Nigeria generating over $15 billion in annual revenue.
“They account for over 40 per cent of MSMEs employment, yet receive less than 20 per cent of formal MSMEs financing. Over 90 per cent operate informally. Fewer than 15 per cent access structured digital training,” she said.
The minister lamented that, less than 5 per cent of the women have have formal governance systems which affects the way they conduct their affairs in business governance.
“This is not a capability problem.It is a structural design problem.We have mentorship without capital. Finance without readiness. Markets without compliance support.
“The Ministry of Industry, Trade and Investment stands ready; with BoI and credible private-sector partners to move from conversation to structured implementation. Together, let us ensure that Nigeria does not merely trade within Africa. Let us ensure that Nigeria produces for Africa.
“Investment readiness is the missing bridge between enterprise survival and enterprise scale;And scale is what AfCFTA demands.Under the Nigeria Industrial Policy, we are commibed to moving enterprises:From informality readiness scale. From subsistence productivity export orientation,” she noted.
For her part, minister of women affairs, Imaan Sulaiman-Ibrahim, said Nigeria’s economic transformation must be inclusive by ensuring that women who form a vital pillar of its productive economy are fully integrated into national and continental trade systems.
“Women are central to Nigeria’s economic life. They produce a large share of our food, dominate many segments of informal commerce, and operate thousands of micro, small, and medium-scale enterprises across the country. Yet the structures of formal trade have not always been designed with them in mind.
“Women account for approximately 70 per cent of Nigeria’s agricultural labour force, yet they own less than 14 per cent of agricultural land, access less than 10 per cent of formal agricultural credit, and constitute a fraction of those registered in formal agricultural export schemes. They do the work. They bear the risk. But the system was not designed to reward them.
“According to the International Trade Centre, women-led SMEs are 70 per cent more likely to reinvest revenue back into their communities, their children’s education, and local supply chains than their male counterparts. The World Bank estimates that closing the gender gap in economic participation could add 26 per cent to global GDP with developing cconomies like Nigeria capturing a disproportionately large share of that gain.
“Supporting women’s participation in trade is not simply a matter of social equity; it is a strategic economic imperative. As His Excellency, President Bola Ahmed Tinubu, GCFR, has consistently emphasised under the Renewed Hope Agenda…Nigeria cannot truly lead intra-African trade if half of its economic engine remains under-utilised,” Ibrahim said.
Also speaking, Head of the Civil Service of the Federation, Didi Esther Walson-Jack said, the colloquium was convened to emphasise the vital role of women in industry, trade, and investment, and promote the conversation on positioning Nigeria as a leading force in intra-African trade.
“Nigeria’s ability to lead intra-African trade will depend not only on policy frameworks and trade facilitation mechanisms, but also on the empowerment of capable and visionary actors within the economy.
“Women constitute a significant proportion of Nigeria’s productive and entrepreneurial base, and expanding their opportunities within value chains, manufacturing, commerce, and cross-border trade will significantly enhance national competitiveness.
“Within the Federal Civil Service, we remain committed to supporting government policies and reforms that promote inclusive economic growth, strengthen institutional coordination, and create an enabling environment for businesses and investors.
“Through effective policy implementation, regulatory clarity, and strengthened institutional capacity, the Public Service continues to play a central role in advancing Nigeria’s economic transformation agenda,” she added.
In his opening remark, the permanent secretary, Ministry of industry Trade and Investment, Nura Abba Rimi , stated that the African continent has adopted forward-looking frameworks through AfCFTA including the Protocol on Digital Trade and the Protocol on Women and Youth in Trade.
He said the Protocol on Women and Youth in Trade is designed to strengthen the participation of women and young entrepreneurs in African trade by expanding access to markets, improving access to finance and supporting the growth of women-owned and women-led businesses which led to the MOU signed today.
“Its purpose is to ensure that the opportunities created by AfCFTA translate into tangible and equitable economic growth across the continent,” Rimi added
