Three months after Nigeria flagged-off its participation in the African Continental Free Trade Area (AfCFTA), under the Guided Trade Initiative (GTI) with an inaugural shipment on July 16, 2024, the sector stakeholders have expressed concern over the slow progress and challenges faced since the launch.

While the shipment marked a significant milestone for Nigeria’s export trade ambitions, the Head, Trade Enablement Coordination Office, AfCFTA Nigeria, Segun Olutayo, expressed a cautiously optimistic outlook on the future of Nigeria’s trading future under AfCFTA.

According to him, government’s approval of name changes and restructuring to better align with AfCFTA underscores its commitment to the trade framework.

He noted the government was interested in AfCFTA because it had the potential to transform the economy, maybe not immediately, but in the long run.

He added that it could create jobs and prosperity if Nigeria scaled up production and trade across borders.

Director-General, African Centre for Supply Chain, Dr Obiora Madu, criticised the slow pace.

According to him, the challenges Nigeria faces in trade are rooted in a lack of export culture and limited capabilities among potential exporters.

He lamented that the stagnation was not due to a lack of opportunities, but rather an absence of an export culture and knowledge.