Consul General of France in Lagos, Laurent Favier, has said the African Continental Free Trade Area (AfCFTA) presents significant opportunities for businesses prepared to embrace regional integration, describing the trade pact as a catalyst for economic growth capable of expanding intra-African trade and opening new markets across the continent.

‎This was at the sixth edition of the yearly CFO Luncheon Series organised by Forvis Mazars, in collaboration with the Franco-Nigerian Chamber of Commerce and Industry in Lagos.

The event, themed “Trade Policy, AfCFTA and the C-Suite’s Growth Agenda,” had discussions centred on the opportunities and challenges presented by the implementation of AfCFTA.
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Speaking at the event, Favier said Africa’s evolving trade landscape presents enormous opportunities for businesses willing to look beyond national borders.

He noted that AfCFTA has the potential to strengthen regional trade, deepen economic integration and create new markets for companies operating across Africa.
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Country Leader, Forvis Mazars in Nigeria, Uhabia Ojike, said businesses are operating in an increasingly uncertain environment characterised by currency pressures, fiscal reforms, regulatory changes and shifting global trade dynamics.
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He, however, said the AfCFTA also presents significant opportunities for regional integration, cross-border expansion and sustainable growth, stressing that business leaders must build organisations that are agile, resilient and positioned to seize emerging opportunities rather than merely respond to change.
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Delivering the keynote address, the Special Adviser to the President on Industry, Trade and Investment, John Ugochukwu Uwajumogu, urged governments and the private sector to work together to build stronger and more resilient economies capable of withstanding global economic shocks.
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According to him, Africa’s long-term growth will depend on improving local value addition, strengthening industrial linkages, investing in infrastructure and logistics, fostering effective public-private collaboration and expanding the knowledge economy.
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‎Uwajumogu acknowledged that businesses continue to grapple with challenges such as limited access to large-scale investment, policy inconsistency, inadequate industrial capacity and outdated trade infrastructure, saying addressing those constraints is critical for Nigeria to maximise the benefits of AfCFTA.