Nigeria positions itself to lead Africa’s intra-continental trade push — Shettima

Nigeria is prepared to spearhead a new era of intra-African trade and investment, leveraging its vast market, economic influence, and growing innovation ecosystem to drive the continent’s next commercial breakthrough, Vice President Kashim Shettima has said.

Speaking at the High-Level Conference on Intra-African Trade held Friday at the State House, Abuja, the Vice President, represented by Senator Ibrahim Hadeija, Deputy Chief of Staff to the President (Office of the Vice President), outlined the Federal Government’s vision for repositioning Nigeria as a central hub in the African trade landscape.

The event was jointly organised by the Nigeria Governors’ Forum (NGF), Woodhall Capital, the African Export-Import Bank (Afreximbank), and the Presidential Enabling Business Environment Council (PEBEC), ahead of international investment roadshows planned for London, Dubai, and Abu Dhabi.

Shettima praised Woodhall Capital for its commitment to mobilising international funding for projects at both the national and subnational levels, describing the initiative as “a patriotic service transforming potential into real opportunities.”

“For too long, Africa’s trade narrative has revolved around exports to the Global North.

“It is time we shifted that focus inward, to harness the untapped power of intra-African commerce, ” he said.

Despite boasting a combined population exceeding 1.4 billion, intra-African trade accounts for less than 17 per cent of total continental trade far behind Europe and Asia, where it exceeds 60 per cent, Shettima urged African nations to maximise the benefits of the African Continental Free Trade Area (AfCFTA), describing it as a catalyst for economic transformation.

He also emphasised the pivotal role of Nigerian subnational governments in this agenda.

“State governments must present bankable, de-risked, and commercially viable projects that can attract global capital,” he said.

Reiterating the Tinubu administration’s reform priorities, Shettima listed policy consistency, institutional transparency, and public accountability as critical ingredients for sustained investment.

“Capital follows confidence, and confidence is built on good governance,” he stated.

He encouraged governors to explore growth sectors such as agro-exports, regional energy infrastructure, and digital platforms.

“The capital is available. The markets are open. The world is paying attention. This is Nigeria’s moment to lead, not follow,” he said.

Also speaking at the event, Chairman of the Nigeria Governors’ Forum (NGF) and Kwara State Governor, AbdulRahman AbdulRazaq, underscored the readiness of Nigerian states to become engines of continental growth.

Represented by Zamfara State Governor Dauda Lawal, AbdulRazaq noted that subnationals were increasingly presenting bankable, globally competitive projects.

“Our message today is clear: Nigerian states are not only open for business, but also ready to compete on the world stage,” he said.

He highlighted the NGF’s Investopedia platform launched earlier this year as a repository of investment-ready opportunities across infrastructure, agriculture, logistics, energy, and creative industries, all aligned with AfCFTA priorities.

AbdulRazaq commended Afreximbank and Woodhall Capital for their collaborative support, particularly through innovative financing models and technical advisory services.

Alain-Thierry Mbongue, Afreximbank’s Acting Regional Chief Operating Officer for Anglophone West Africa, reaffirmed the bank’s dedication to supporting subnational governments in attracting investment and scaling intra-African trade.

Representing Afreximbank President Professor Benedict Oramah, Mbongue described the Abuja forum as “a strategic milestone in Nigeria’s investment journey,” focused on action-oriented frameworks capable of delivering large-scale impact.

He spotlighted the African Sub-Sovereign Government Network (AfSNET), a 2021 initiative enabling governors and mayors to share policy ideas and access financing instruments tailored to regional needs.

“Our philosophy is clear, development must start from where the need is most pressing: the subnational level,” Mbongue said.

He revealed that the network has facilitated more than$2 billion in trade and investment deals in the last four years through summits held in Durban, Abuja, Cairo, and Kisumu.

Cross River State, he announced, would host the next AfSNET Investment Forum in 2026.

In her remarks, President of Woodhall Capital, Mrs. Mojisola Hunponu-Wusu, described the conference as “a convergence of vision, capital, and commitment.” She called on both local and foreign investors to capitalise on Nigeria’s reform-driven economic landscape.

She noted that the gathering stemmed from a 2025 Memorandum of Understanding (MoU) signed between Woodhall Capital and the NGF, aimed at linking state-level projects with credible investors across Europe and the Gulf region.

“This is not just a dialogue; it is a bridge connecting Nigeria’s economic reforms with global capital.

“We are no longer approaching investors with begging bowls. We bring structure, opportunity, and vision, ” she said.

Hunponu-Wusu praised President Tinubu’s economic reforms, including the unification of the exchange rate, forex liberalisation, and ongoing market reforms, describing them as pivotal in restoring investor confidence.

She further hailed Afreximbank as a “Big Brother” to Woodhall Capital and lauded Professor Oramah’s leadership, expressing optimism that incoming president Dr. George Elombi would sustain the momentum.

She announced the upcoming NGF–Woodhall Capital investor roadshows in London, Dubai, and Abu Dhabi designed to connect Nigerian states directly with capital providers.