Amid mounting global trade tensions and economic uncertainty, Nigeria's Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called on African nations to deepen intra-continental trade ties and reduce reliance on foreign aid.
Speaking at the 4th World Customs Organisation Donors Conference for the West and Central Africa region in Abuja, Edun pointed out that countries like Nigeria, Cameroon, and Côte d'Ivoire are now facing average tariffs of 13.83% on exports to the U.S., a situation triggered by retaliatory trade measures.
He warned that these rising trade barriers and the withdrawal of crucial development aid in health and education sectors have worsened the region's economic challenges.
Edun stressed the need to accelerate implementation of the African Continental Free Trade Area (AfCFTA), modernize customs operations, and invest in self-sustaining regional systems.
He emphasized that customs modernization is key to attracting investment and ensuring smooth cross-border trade, encouraging all regional stakeholders to set bold, actionable goals to transform customs services.
Also speaking at the event, Comptroller General of Nigeria Customs Service (NCS), Bashir Adewale, showcased the country's commitment to customs reform, highlighting pilot projects already underway and Nigeria's readiness to serve as a training hub for the region. He invited development partners to support high-impact, well-researched initiatives for regional transformation.
WCO Secretary General, represented by Ebenezer Taofik, added that capacity building remains crucial, as customs services in West and Central Africa face increasing demands with limited resources.
He called for more targeted investment and strategic prioritization to maximize impact.Amid mounting global trade tensions and economic uncertainty, Nigeria's Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called on African nations to deepen intra-continental trade ties and reduce reliance on foreign aid.
Speaking at the 4th World Customs Organisation Donors Conference for the West and Central Africa region in Abuja, Edun pointed out that countries like Nigeria, Cameroon, and Côte d'Ivoire are now facing average tariffs of 13.83% on exports to the U.S., a situation triggered by retaliatory trade measures.
He warned that these rising trade barriers and the withdrawal of crucial development aid in health and education sectors have worsened the region's economic challenges. Edun stressed the need to accelerate implementation of the African Continental Free Trade Area (AfCFTA), modernize customs operations, and invest in self-sustaining regional systems.
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He emphasized that customs modernization is key to attracting investment and ensuring smooth cross-border trade, encouraging all regional stakeholders to set bold, actionable goals to transform customs services.
Also speaking at the event, Comptroller General of Nigeria Customs Service (NCS), Bashir Adewale, showcased the country's commitment to customs reform, highlighting pilot projects already underway and Nigeria's readiness to serve as a training hub for the region. He invited development partners to support high-impact, well-researched initiatives for regional transformation.
WCO Secretary General, represented by Ebenezer Taofik, added that capacity building remains crucial, as customs services in West and Central Africa face increasing demands with limited resources. He called for more targeted investment and strategic prioritization to maximize impact.
