Maritime stakeholders have stated that for African countries to benefit from the African Continental Free Trade Area, the continent will require an investment of $120bn in transport equipment by 2030.
These stakeholders spoke on Wednesday at the opening ceremony of a two-day sub-regional seminar and meeting of Standing Committee No. 1 on Trade and Transport of the Union of African Shippers’ Councils.
The event, with the theme “The readiness of countries of West and Central Africa in the implementation of the agreement establishing the African Continental Free Trade Area – The role of shippers’ councils”, was organised by the Nigerian Shippers’ Council in collaboration with the UASC under the auspices of the Federal Ministry of Marine and Blue Economy.
Citing the Economic Report on Africa 2025, Senior International Trade Policy and Law Expert/Lead, Nigeria AfCFTA Coordination Office, Olusegun Olutayo, said, “Africa requires a $120bn investment in transport equipment by 2030 to support AfCFTA through streamlined regulations and strategic trade facilitation measures to maximise the benefits of the AfCFTA.”
Olutayo stressed that intra-African exports are dominated by manufactured goods, which account for a 46 per cent share, indicating huge potential for value addition and less reliance on primary commodities.
He recounted his involvement in the successful shipment of Nigeria’s first AfCFTA consignment to Mombasa, Kenya, a few months ago.
He lamented the logistical gaps that caused the shipment to travel through multiple non-African ports before reaching its destination.
On his part, the Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, stressed the need to proffer lasting solutions to trade facilitation challenges across the region.
Adeniyi, who was represented by the Customs Area Controller in charge of the Apapa Area Command of the Nigeria Customs Service, Emmanuel Oshoba, highlighted the importance of adopting appropriate pricing mechanisms for trade, ensuring competitive freight rates, and creating a sustainable system that supports the movement of goods and services across Africa.
He further stressed that aligning customs procedures with AfCFTA’s framework would enhance competitiveness, reduce trade barriers, and promote economic integration within the continent.
Also speaking, the Director-General of the Nigerian Maritime Administration and Safety Agency, Dr Dayo Mobereola, noted that while security remains essential, true readiness for AfCFTA requires addressing broader challenges such as digitalisation, infrastructure, and regional connectivity.
Mobereola, who was represented by a Director at NIMASA, Mrs Nneka Obiano, highlighted ongoing efforts by the agency to digitalise operations and integrate maritime processes across various platforms.
He added that NIMASA remains committed to strengthening collaboration with the Nigerian Shippers’ Council and other UASC member countries.
In his goodwill message, the Head of Research and Policy Advisory at the Sea Empowerment and Research Centre, Eugene Nweke, stressed that many West and Central African nations still lack harmonised standards, trade logistics, and customs modernisation to compete effectively.
He said non-tariff barriers and smuggling corridors distort markets, warning that unregulated liberalisation will shrink local industries, widen inequality, and worsen unemployment.
“The governments of Nigeria and her regional counterparts should adopt a sequenced trade liberalisation policy anchored on: feed your people before feeding your market; subsidise productivity, not consumption, and protect the weak while building the strong, among others,” Nweke said.
AfCFTA is a landmark agreement established by the African Union to create a single continental market for goods and services, facilitate the free movement of people and investments, and promote industrial development across Africa. It was adopted in March in Kigali, Rwanda, and officially entered into force in 2019, after the required number of countries ratified the agreement. The AfCFTA brings together 55 African Union member states, making it the largest free trade area in the world by number of participating countries. Its primary goal is to boost intra-African trade by eliminating tariffs on up to 90 per cent of goods, harmonizing trade policies, and fostering a more integrated African economy.
Beyond trade liberalisation, the AfCFTA seeks to drive economic diversification, industrialisation, and sustainable development across the continent.
