• Seeks private sector support to drive regional growth

Minister of Foreign Affairs, Yusuf Tuggar, has called for strong regional integration and private sector leadership for economic prosperity. He declared that the era of fragmented national economic pursuits must end if the continent is to thrive in an increasingly protectionist world.
 
Speaking yesterday in Lagos at a roundtable with the theme, ‘Future Forward: Connecting for Market-Oriented Solutions’, Tuggar told African business leaders that the time had come to move from talk to action and to build a future powered by African solutions for African challenges.
 
“The time to help others build is over. Africa must now compete, not beg. We must use our size to generate competitive advantage, open up broader markets and drive inclusive growth across the continent,” he said.
 
The minister’s address also outlined urgency of deeper regional coordination, while spotlighting the private sector as the engine of economic diplomacy and transformation. He decried the low levels of intra-African trade, just 15 per cent of total trade on the continent, compared to 60 per cent in Asia and 70 per cent in Europe. In West Africa, the figure is a dismal 13 per cent, reflecting the continent’s long-standing logistical, regulatory and infrastructural gaps. This disparity exposes a troubling lack of cross-border coordination.
 
“It is time to dismantle barriers and build a new economic architecture rooted in regional solidarity and practical collaboration,” he explained.
 
Tuggar highlighted Nigeria’s strategic efforts, from infrastructure development like the Kano-Maradi rail line to financial technology innovation. He noted that Nigeria’s Interbank Settlement System (NIBSS) has become a model of regional efficiency, enabling seamless digital transactions across borders.
 
He added: “We are not starting from scratch. We have a strong banking presence across Africa, and our infrastructure is expanding. We must leverage these assets to lead the charge under African Continental Free Trade Area (AfCFTA) and other regional frameworks.”

On Nigeria’s relations with fellow African countries, Tuggar acknowledged the challenges faced by Nigerian businesses abroad. He cited Ethiopia and South Africa, where Nigerian entrepreneurs have had their funds frozen or faced steep penalties over immigration and business regulations.
 
“Despite our financial constraints, we’ve had to step in to support affected citizens. We’re addressing these matters head-on,” he said.
 
The minister also weighed in on the issue of xenophobia in South Africa, urging empathy rather than hostility.
 
“Apartheid left deep scars and created internal displacement. Even a Zulu is seen as an outsider in some parts of South Africa. Nigerians, Zimbabweans and Zambians have all been victims of violence – not because they are hated, but because old wounds still fester. That said, understanding must not excuse injustice.”
 
Addressing internal hurdles, including the proliferation of checkpoints that disrupt trade, he disclosed that President Bola Tinubu ordered their removal to ease movement and commerce.
 
The minister further referenced a recent $210 million drug bust as a sobering reminder of the security risks that must be navigated to ensure economic stability.
 
He assured attendees that the roundtable was not just another ceremonial talkshop but a prelude to tangible action, especially ahead of the upcoming West Africa Economic Summit (WAES).