Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy has outlined Nigeria’s plans to tap into the $3.4 trillion market opportunities of the African Continental Free Trade Area (AfCFTA).
In a statement following a high-level roundtable on Nigeria’s implementation of AfCFTA protocols, Dr. Tijani expressed his satisfaction at joining his colleagues, Dr. Doris Uzoka-Anite, Minister of Trade and Investment, and Senator John Owan Enoh, Minister of State for Industry, in welcoming AfCFTA Secretary-General Wamkele Mene.
Image credit: Dr. Bosun Tijani’s X handle.
Minister: AfCFTA offers opportunity for Nigerian businesses, tech startups
“With a market of over 1.4 billion people and a combined GDP of over $3.4 trillion dollars, the African Continental Free Trade Area (AfCFTA) offers a significant opportunity for Nigerian businesses and tech startups”, Dr. Tijani says.
According to the Minister, the event emphasises Nigeria’s leadership role in ensuring that AfCFTA fosters shared prosperity across the continent.
Following the event, Dr. Tijani engaged with representatives from seven tech startups—Moni (YC W22), Vendease Africa, Co-Creation Hub (CcHUB), Renda Africa, Norebase, Helium Health, and Bamboo—to explore ways the Ministry of Communications, Innovation, and Digital Economy could support them.
“We had a stimulating conversation and I am looking forward to working together with them on a number of initiatives that will benefit the wider technology startup ecosystem,” the Minister says.
What is AfCTA?
The African Continental Free Trade Area (AfCFTA), established in 2018 and operational since January 1, 2021, is the largest free trade area globally by participating countries. It includes 54 of the 55 African Union nations, with its Secretariat based in Accra, Ghana. Nigeria initially approved the AfCFTA Agreement on March 14, 2021, but delayed signing to assess its economic implications and alignment with national interests.
Why is AfCTA important?
AfCFTA benefits Nigeria by expanding market access, boosting exports, creating jobs, and supporting SME growth. It is expected to increase GDP, attract foreign investment, and strengthen the manufacturing sector.
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