Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has officially stepped into her role as the incoming Chair of the AfCFTA Council of Ministers. Speaking at the high-level Biashara Afrika 2026 Summit in Lomé, Togo, Oduwole urged continental leaders and economic planners to shift focus from signing policy papers to actively dismantling the practical barriers that stifle intra-African trade.
Describing the AfCFTA agreement as Africa’s “silver bullet” for structural transformation, the Minister emphasized that the trade pact’s true potential can only be unlocked through disciplined execution on the ground.
1. Transitioning from Trade Protocols to Market Activity
As the head of the AfCFTA ministerial council, Nigeria’s policy stance focuses heavily on trade facilitation. The objective is to make the movement of goods and services seamless across Africa’s $3.4 trillion unified market.
To drive this transition, Oduwole highlighted several critical action items aimed at removing friction from cross-border commerce:
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Eliminating Non-Tariff Barriers (NTBs): Streamlining complicated customs processes, reducing port delays, and modernizing logistics infrastructure across regional trade corridors.
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Enhancing Digital Trade Infrastructure: Deploying standardized single-window platforms to digitize custom clearances and lower transaction costs for cross-border merchants.
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Improving Regional Mobility: Applauding the Government of Togo’s recent decision to remove short-stay visa requirements for African passport holders and investors, calling it a major step forward for business travel and integration.
2. Activating the 2026 Startup Acceleration Program
The Minister underscored that policy frameworks are only valuable if they enable real businesses to scale. To turn these ideals into commercial reality, Oduwole announced the launch of the AfCFTA Startup Acceleration Programme.
Developed in partnership with the Korea Africa Foundation, the flagship program is structured to select and support 30 high-potential African startups—with a strong focus on Nigerian innovators—to help them expand into international markets, particularly South Korea.
| High-Growth Focus Sectors | Expected Value-Chain Impact Metrics |
| Fintech & Local Payments | Reducing dependency on foreign currencies by scaling local-currency payment engines. |
| Agritech & Processing | Improving local food security and scaling non-oil exports across regional borders. |
| E-Commerce & Logistics | Building out the digital rails to move physical inventory across African borders smoothly. |
3. Unlocking Local Capital for Continental Scale
Oduwole concluded by noting that Africa can no longer rely solely on foreign investment to fund its industrial transformation. Instead, the continent must focus on mobilizing its own capital to back regional value chains.
By prioritizing local manufacturing, processing, and tech-driven platforms, the AfCFTA aims to build a resilient economic bloc capable of shielding Africa’s 1.4 billion citizens from global economic shocks and supply chain disruptions.
