Lagos State Governor Babajide Sanwo-Olu has has urge Nigeria and Africa Private sector operator to recognize that the African Continental Free Trade Area (AfCFTA) is a strategic tool for reducing trade barriers, expanding markets, and offering value chains room to expand. But its success lies in private sector buy-in. Governments can negotiate tariffs and treaties, but businesses must produce, export, invest, and believe in cross-border possibilities. That belief must persist even in the face of global uncertainty: volatile currency, supply chain shocks, regional instability.
Speaking at the at the NEPAD Business Group Nigeria High Level Business Forum at Eko Hotel and Suites Sanwo-Olu said “here in Lagos, we understand the power of private enterprise. From thriving tech ecosystem in Yaba, to our deep-sea port in Lekki, to our industrial zones across the state, we are building an economy that encourages innovation, trade and investment. We have created platforms where public policy meets private vision – and where businesses are given the freedom to thrive. Lagos state Government continues to invest in critical infrastructure, improve transport connectivity, strengthen logistics chains, and build the digital backbone that modern trade requires. These are not isolated actions; they are deliberate steps to align Lagos with the broader vision of AfCFTA – an Africa that trades more with itself, competes globally, and prospers collectively.
“The world today faces constant changes – shifting trade patterns to inflation. Climate concerns, and unpredictable political tensions. These global uncertainties challenge economics everywhere. Yet for Africa, they also present a chance to rethink how we trade, how we produce, and how we build resilience through cooperation. The African Continental Free Trade Area, AfCFTA, gives us that platform – a bold vision to unite our markets, remove barriers, and create wealth across the continent. But the success of AfCFTA depends largely on how we mobilize our private sector – the true engine of job creation, Innovation, and productivity. To make AfCFTA work in Africa in these uncertain times, we must focus on a few key solutions; Empowering Small and Medium Enterprises (SMEs). They are the heartbeat of Africa’s private sector, they create jobs and sustain communities, therefore, to empower them, we must improve access to finance, mentorship, and technology. Lagos has been championing this through initiatives like Lagos the State Employment Trust Fund (LSETF), which provides capital and training to entrepreneurs. Scaling such initiatives across Africa will help SMEs benefit directly from AfCFTA.
“Digital trade, e-commerce and fintech are changing how business is done. Africa must embrace technology to simplify cross-border transactions and improve efficiency. Lagos is already leading in this space as the tech capital of Nigeria – a model that can inspire other regions.
This is the time for collaboration, not competition; for unity; not isolation. If we succeed in mobilizing our private sector effectively, Africa will be able to overcome global uncertainty, emerge stronger, richer, and more self-reliant. As leaders, investors, and stakeholders gathered here today, our duty is to make that vision real. I want us to take this forum as a call to action to turn Africa’s potential into prosperity”.
In his goodwill message Dr. Abdulrashid Ibrahim Usman Yerima, President, NASME President/Chairman said “Today, we are not simply convening for discussion—we are aligning our purpose, rallying our energies, and committing to the hard work of shaping Africa’s future. At a time when global economic currents are volatile and the contours of trade and finance are shifting rapidly, the opportunity before us is both profound and urgent. The African Continental Free Trade Area (AfCFTA) stands as one of the most ambitious instruments of collective empowerment ever conceived on our continent. It offers us the chance to transform
fragmented national markets into a unified, dynamic economic zone—one that harnesses our human capital, natural resources, innovation and enterprise. Industrialization, entrepreneurship, and innovation remain the pillars upon which strong, prosperous nations are built. As private‑sector leaders—the employers of labour, the designers of value chains, the creators of opportunity—we bear the responsibility to lead Africa out of the periphery and into relevance.
Our task is to move from aspiration
to achievement, from potential to performance.
“It is therefore critical that we link our vision for AfCFTA with concrete global frameworks, so that Africa’s private sector is not only regionally integrated but globally competitive. On that front I would like to highlight the OECD Digital for SMEs Global Initiative (D4SME), a worldwide collaborative knowledge platform which supports small and medium‑enterprises in their digitalisation journey. By connecting Africa’s SME ecosystem to such global initiatives, we anchor our strategy in
world‑class practice and unlock access to knowledge, partnerships and resources that will raise our competitiveness. We must also build the associative capacity of MSMEs engaged in production and trade.
Collective strength is vital — because no SME can scale alone in a continental market of 1.4 billion people. We need sustained support for strengthening MSME cooperatives, clusters, associations, and industrial networks under AfCFTA governance structures. As those who guided
the development of the ECOWAS MSME Charter, it is my responsibility — and our collective mandate — to ensure that its principles are cascaded effectively across all African sub‑regions, so that MSMEs are not left behind but fully empowered to drive the industrialization of our continent.
Let us commit together to:
- Prioritize trade among African nations before we trade with the world
- Strengthen regional value‑chains
- Bridge the financing gap that suppresses SME growth
- Embrace digitalisation, technology adoption and certification standards
