The Federal Government has said it’s prepared to lead AfCFTA by creating a strong, viable, productive and competitive economy, by unlocking the productive potential of women-led enterprises at a larger scale by ensuring inclusion, access to capital, market and other incentives.
The Ministers and other stakeholders disclosed this at the ‘Colloquium In Honour Of Women’s Role In Industry, Trade And Investment’ with the theme: ‘Positioning Nigeria To Lead Intra-African Trade’ held at the National Assembly on Friday.
In her keynote address, the Minister of Industry, Trade and Investment, Dr Jumuoke Oduwole, said, as Nigerians speak about industrialisation and intra-African trade, they must confront the powerful truth of harnessing women’s immense potentials and utilise them optimally.
She said, “The African Continental Free Trade Area is no longer a conceptual aspiration. It is operational architecture: a $3.4 trillion market of 1.4 billion people, representing the largest free trade area in the world by number of participating countries.
But let us be clear: markets do not create prosperity. Production does. Trade agreements do not industrialise nations. Competitive enterprises do.
“Nigeria’s ambition under AfCFTA is not to be a passive consumer market. It is to become a production hub; manufacturing, processing, innovating and exporting at scale. Today, manufacturing contributes approximately 13–14% to Nigeria’s GDP. In industrialised economies, that figure is closer to 20–25%.
“The gap is not merely statistical. It represents unrealised factories, unrealised exports, and unrealised jobs. Closing that gap is the mandate of our new Nigeria Industrial Policy.
“Women already dominate large segments of Nigeria’s real economy. Across retail, textiles and garments, agribusiness processing, nutrition systems, and light manufacturing, women-led MSMEs are deeply embedded in value chains. There are over 8 million women-led MSMEs in Nigeria generating over $15 billion in annual revenue.
In her address, the Minister of Women Affairs, Imaan Sulaiman-Ibrahim, said Nigeria’s economic transformation must be inclusive by ensuring that women who form a vital pillar of its productive economy are fully integrated into national and continental trade systems.
She said, “Women are central to Nigeria’s economic life. They produce a large share of our food, dominate many segments of informal commerce, and operate thousands of micro, small, and medium-scale enterprises across the country. Yet the structures of formal trade have not always been designed with them in mind.
“Women account for approximately 70 per cent of Nigeria’s agricultural labour force, yet they own less than 14 per cent of agricultural land, access less than 10 per cent of formal agricultural credit, and constitute a fraction of those registered in formal agricultural export schemes. They do the work. They bear the risk. But the system was not designed to reward them.
“According to the International Trade Centre, women-led SMEs are 70 per cent more likely to reinvest revenue back into their communities, their children’s education, and local supply chains than their male counterparts.
“The World Bank estimates that closing the gender gap in economic participation could add 26 per cent to global GDP, with developing economies like Nigeria capturing a disproportionately large share of that gain.
“Supporting women’s participation in trade is not simply a matter of social equity; it is a strategic economic imperative. As His Excellency, President Bola Ahmed Tinubu, GCFR, has consistently emphasised under the Renewed Hope Agenda…Nigeria cannot truly lead intra-African trade if half of its economic engine remains under-utilised”.
In a goodwill message, the head of the Civil Service of the federation, Mrs Didi Esther Walson-Jack, noted that the colloquium was convened to emphasise the vital role of women in industry, trade, and investment, and promote the conversation on positioning Nigeria as a leading force in intra-African trade.
She said, “Nigeria’s ability to lead intra-African trade will depend not only on policy frameworks and trade facilitation mechanisms, but also on the empowerment of capable and visionary actors within the economy.
“Women constitute a significant proportion of Nigeria’s productive and entrepreneurial base, and expanding their opportunities within value chains, manufacturing, commerce, and cross-border trade will significantly enhance national competitiveness.
“Within the Federal Civil Service, we remain committed to supporting government policies and reforms that promote inclusive economic growth, strengthen institutional coordination, and create an enabling environment for businesses and investors.
“Through effective policy implementation, regulatory clarity, and strengthened institutional capacity, the Public Service continues to play a central role in advancing Nigeria’s economic transformation agenda”.
In his opening remark, the Permanent Secretary, Ministry of industry Trade and Investment, Amb. Nura Abba Rimi stated that the African continent has adopted forward-looking frameworks through AfCFTA, including the Protocol on Digital Trade and the Protocol on Women and Youth in Trade.
According to him, the Protocol on Women and Youth in Trade is designed to strengthen the participation of women and young entrepreneurs in African trade by expanding access to markets, improving access to finance and supporting the growth of women-owned and women-led businesses, which led to the MOU signed today.
He said, “Its purpose is to ensure that the opportunities created by AfCFTA translate into tangible and equitable economic growth across the continent”.
