Jumoke Oduwole, Minister of Industry, Trade and Investment, says Africa's "One African Market" is now taking shape under the African Continental Free Trade Agreement (AfCFTA). She made the remarks on Monday at the ongoing AfCFTA P3 (Public, Private, and Press) Summit in Abuja.
"This Summit is designed to deepen understanding of the AfCFTA framework and mobilise the entire economy toward achieving Item 7 of Mr President's Renewed Hope Agenda," Oduwole said.
She added that the AfCFTA allows Africa to retain more value by trading within the continent, making Nigeria's economic ambitions inseparable from active participation in the market.
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Oduwole highlighted that despite global economic headwinds, Nigeria has achieved deeper diversification, stronger industrial capacity, and unprecedented opportunities for businesses across Africa. She emphasized that coordinated efforts are needed to fully leverage AfCFTA for economic growth.
The AfCFTA, ratified by Nigeria in 2020 and now backed by 48 African Union member states, is the largest free trade area globally by participating countries, encompassing a $3.4 trillion combined GDP and a population of 1.4 billion.
Oduwole reaffirmed Nigeria's leadership role in driving trade-led regional integration, building on past initiatives such as the Lagos Plan of Action (1980) and Abuja Treaty (1991).
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