At the opening of the West Africa Economic Summit (WAES) 2025, held in Abuja, the Federal Government of Nigeria called for greater investments in port infrastructure and digital trade platforms to reduce the costs and challenges facing cross-border businesses across West Africa.

Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment, delivered this call during her keynote address, urging regional leaders and private investors to support efforts aimed at building an integrated economic region. Her speech focused on tackling long-standing barriers such as high transaction costs, inconsistent border duties, and bureaucratic inefficiencies that continue to stifle regional commerce, especially for micro, small, and medium enterprises (MSMEs).

Simplifying Export Processes Through Port Reforms

The minister’s comments come on the heels of a major development by the Nigerian Ports Authority (NPA)—the introduction of Export Processing Terminals (EPTs). These terminals are designed as one-stop centers that handle every aspect of exporting, including cargo consolidation, packaging, documentation, certification, and final shipment.

According to Mr. Asuquo Okon, Principal Manager of Tariff and Billing at the NPA, these EPTs will significantly streamline export procedures and eliminate the delays exporters currently face. The terminals will operate using an electronic call-up system that controls the movement of goods to the ports, thereby improving efficiency and transparency in cargo movement.

This reform aligns with Nigeria’s broader strategy to improve logistics and reduce the time and cost of doing business across borders—especially as regional integration deepens under frameworks such as the ECOWAS Trade Liberalization Scheme (ETLS) and the African Continental Free Trade Area (AfCFTA).

Infrastructure and Digital Solutions at the Core

Speaking on the topic “One Market, One Future…Building Scalable Industries Across Borders,” Oduwole stressed that many small businesses across West Africa are still confronted by prohibitive costs when trading regionally. She explained that in some cases, it is cheaper and less complicated to trade with overseas markets than with neighboring African countries—mainly due to lack of infrastructure, inadequate financing, and inefficient border policies.

To reverse this trend, the minister recommended comprehensive investments in:

• Port infrastructure and intermodal logistics corridors, including roads and railways that connect hinterlands to export hubs.

• Digital trade platforms that enable paperless transactions, faster customs processing, and real-time cargo tracking.

• Affordable financing options for youth- and women-led enterprises, which are often excluded from formal lending systems.

• Market intelligence tools that help local producers understand regional trends, pricing models, and demand forecasts.

• Harmonization of regional product standards and customs procedures, ensuring that regulations do not change from one border to the next.

These initiatives, she said, would not only help MSMEs expand across borders but also position West African economies for long-term competitiveness and resilience.

Weak Intra-African Trade Despite Integration Efforts

Despite numerous efforts by regional organizations like ECOWAS, intra-African trade remains alarmingly low, accounting for less than 20% of Africa’s total trade. Within West Africa, trade among countries lingers below 10%, a stark contrast to 58% in Asia and 67% in Europe.

Minister Oduwole described this imbalance as a significant challenge, emphasizing that the continent cannot afford to maintain fragmented markets and inefficient trade systems. She called for the removal of both tariff and non-tariff barriers that hinder the seamless movement of goods, services, and people across African borders.

“Achieving a truly unified African market requires intentional collaboration to align trade policies, simplify customs, and harmonize product standards,” she stated.

Nigeria’s Commitments Under AfCFTA

The minister affirmed that Nigeria remains fully committed to implementing regional trade protocols, including the ECOWAS Common External Tariff and the broader AfCFTA framework. In April 2025, following approval by President Bola Ahmed Tinubu, the federal government officially published its provisional schedule of tariff concessions—a key step toward facilitating preferential trade among African nations.

She noted that Nigeria’s participation in AfCFTA is part of a larger economic reform strategy aimed at positioning the country as a preferred investment destination. This strategy includes:

• Fuel subsidy removals and exchange rate unification,

• Trade and monetary policy reforms,

• Institutional restructuring and stronger coordination across ministries.

According to Oduwole, these reforms are already yielding positive results, attracting over $50 billion in investment interest since May 2023, especially in sectors that offer scale and long-term value.

Encouraging Broader Engagement

Also speaking at the summit, Bianca Odumegwu Ojukwu, Nigeria’s Minister of State for Foreign Affairs, urged stakeholders to focus on tangible outcomes that will expand trade and deepen regional cooperation. She emphasized that West Africa must adopt forward-looking integration policies and build industries capable of scaling across borders.

She called on political leaders, business communities, and development partners to prioritize cross-border industrialization and economic diversification as key elements of the regional development agenda.

WAES 2025: A High-Level Regional Dialogue

The West Africa Economic Summit (WAES) 2025 was launched as part of President Tinubu’s initiative to foster regional economic dialogue and accelerate integration. Organized by the Ministry of Foreign Affairs, the two-day summit is designed to serve as a platform for policymakers, private sector leaders, investors, and youth innovators to collaborate on building scalable industries in West Africa.

With the theme “Unlocking Trade and Investment Opportunities in the Region,” the summit’s key focus areas include:

• Infrastructure development,

• Energy and agriculture,

• Digital finance and innovation,

• Youth entrepreneurship, and

• Regional supply chain optimization.

The summit will close with a gathering of Heads of State and Government, development finance institutions, and regional stakeholders, all working toward shared economic prosperity and integration.

Looking Forward

Minister Oduwole’s call for investment in ports, logistics, and digital infrastructure reflects Nigeria’s recognition that physical and institutional barriers must be addressed to unlock West Africa’s trade potential. The emphasis on harmonization, digitalization, and inclusion points to a growing consensus that the future of trade lies in regional collaboration.

As Nigeria continues to implement wide-ranging reforms and deepen its engagement with regional frameworks like AfCFTA, it is positioning itself not just as a national economy—but as a gateway to West Africa.

For stakeholders across the sub-region, WAES 2025 is more than just another summit—it is a turning point that could reshape the landscape of African trade and investment for years to come.