The Federal Government has inaugurated Nigeria-East/Southern Africa Market Intelligence Tool (MIT), to strengthen trade leadership and accelerate Nigeria’s trade competitiveness under the African Continental Free Trade Area (AfCFTA).
Dr Jumoke Oduwole, Minister, Trade, Industry and Investment, while inaugurating the MIT, in Abuja on Monday, said the effort was to ensure the effectiveness of the initiative.
Oduwole said that the government was also strengthening the partnership arrangements between Nigerian business groups and Uganda Airlines, to unlocking the AfCFTA market for Nigerian businesses.
She also said that the government was collaborating with the United Nations Development Programme (UNDP), and Uganda Airlines.
“Today, we have taken the next critical step. We are launching the Nigeria, East, Southern Africa market intelligence tool.
“It is a platform designed to empower Nigerian businesses with data, insight and confidence to explore and expand into new African markets.
“We are also announcing the formalised partnership between Uganda airlines and Nigerian Business Association, ensuring that this corridor is not just open, but is actively used, optimised and sustained, ” she said.
She explained that the MIT was a strategic initiative developed to equip Nigerian businesses with comprehensive market insights for effective participation in the AfCFTA, particularly in the agriculture, cosmetics, and textile sectors.
She added that the announcement of the partnership arrangements was to enhance regional trade connectivity.
The minister said that Nigeria signaled its readiness to lead Africa’s trade renaissance, ensuring businesses capitalised on the continent’s 3.4 trillion dollars market.
“The success of this initiative will not be measured by applause, but by increased exports, expanded businesses, and transformed lives.
“This market intelligence tool, with the UNDP is a working document, a business resource that gives us the insights needed to make real time decisions.
“It covers key markets in Eastern and Southern Africa with practical sector specific insights regulatory requirements, to enable businesses meet import standards in various sectors,’’ she said.
The minister said that Nigeria carried both the privilege and the responsibility of continental leadership in knowledge integration.
According to her, recently, the AfCFTA central coordinating authority concluded its five year assessment and reaffirmed Nigeria’s unwavering commitment to its effective implementation.
“Just yesterday, in a landmark step, we launched the Nigeria-East/Southern Africa Air Cargo Corridor with about 50 to 75 per cent discount.
“A strategic initiative that connects Nigeria with 13 key destinations in eastern and southern Africa,’’ she said.
The minister said that the corridor, in partnership with Uganda airline and with the support of the UNDP, offered Nigerian exporters access to scheduled flights, subsidised ferries and guaranteed timelines.
Oduwole added that the initiative aimed to empower Nigerian businesses, particularly women-led Micro, Small Medium Enterprises (MSMEs).
According to her, this is by providing real-time trade insights and enhanced export logistics, positioning Nigeria as a continental trade leader.
She said that the timing of the inauguration was particularly significant following President Bola Tinubu’s approval of the AfCFTA tariff schedule that has been presented.
“This is not just symbolic. It is a binding commitment that allows Nigerian businesses to trade under preferential conditions with our fellow African nations. The move will remove trade barriers.
This administration calls for radical transformation of our economy. We are expected not just to grow the Gross Domestic Product (GDP), but to shift the structure of our exports,’’ she said.
Oduwole said that the ministry was working toward expanding corridors to West and Central Africa, digitising export documentation to reduce transaction times.
According to her, it is aimed at ensuring Nigerian exports are fast, affordable, reliable and industrial infrastructure through the ministry’s industrialisation drive.
Amb. Nura Rimi, Permanent Secretary in the ministry, emphasised the importance of trade intelligence and logistics, adding that the initiative would transform raw trade data into tangible opportunities for Nigerian entrepreneurs.
In her remarks, Mrs. Elsie Attafuah, UNDP Nigeria Resident Representative, said that the intelligence tool was a “game-changer” for Nigerian exporters.
Attafuah encouraged all the stakeholders to support the initiative for effective implementation.
Also, Dr Ify Ogo, the UNDP Trade Expert, said that the initiative was designed to offer Nigerians businesses the insight needed to break into the eastern and southern market.