NEPC Urges Exporters To Capitalize On \$3Trn AfCFTA Market

The Nigerian Export Promotion Council (NEPC) has urged Nigerian exporters to seize the opportunities offered by the over \$3 trillion African Continental Free Trade Area (AfCFTA) market, highlighting its potential for significant economic growth.

Mrs. Nonye Ayeni, NEPC Executive Director, spoke at a South West zone workshop titled ‘Positioning SME Exporters to Benefit from the African Continental Free Trade Area Agreement’ on Wednesday. The workshop aims to train new entrants into the export sector.

Represented by Mrs. Bolanle Emmanuel, Acting Regional Coordinator of NEPC South West, Ayeni emphasized the Council’s commitment to equipping new exporters with the knowledge and support needed to succeed globally. She noted that training and professional guidance help integrate new exporters into formal international trade, enhance data security, enable business expansion, and connect them to a broad network of experienced exporters for mentorship.

“With the recent developments in the world economic order, since President Trump’s administration, there is a greater need for Nigeria to diversify its export market towards the African market worth over $3tn. The Council, as well as our exporters, have great tasks ahead. This technical session today is therefore a step in the right direction to sensitise our SMEs on the inherent potential therein.

“I want to use this opportunity to call on our teaming and prospective exporters to join hands with the Council and also take advantage of this workshop to formalise their export business within the African market, thereby qualifying them to key into other laudable initiatives of the Council such as the Export Incentives, Export Market Access Programs, Export Trade House initiative, Domestic Export Warehouse and our flagship.

“The future of Nigerian and African trade is in our hands, and it is up to us to ensure that this future is one of shared prosperity, innovation, and sustainable growth. The Nigerian Export Promotion Council is willing to partner and support export promotion at the sub-national level and act as a catalyst, strengthening exports for economic growth and job creation,” Ayeni said.

Talabi highlighted the need to prioritize indigenous players in the export sector to shift the dominance currently held by Indians, Lebanese, and Chinese traders.

He pointed out existing challenges in the sector, including rising exchange rates, higher commodity prices, and double-digit interest rates, all of which have increased funding costs and made Nigerian exports less competitive in the global market.

“We are not the only ones exporting most of the products we export to the global market. Inflation has made our products uncompetitive . We need to find a way of bringing the cost of export products down.

“Price should be reduced on the product side and the regulatory side, with low-cost funding. Regulators should reduce added cost to exporters, improve logistics, and checkmate the activities of foreigners. Most of the exports are done by foreigners: Indians, Lebanese, and Chinese. They have access to low-cost funding, jack up the price of commodities, thereby pushing indigenous players out of business.”

Talabi emphasized that adopting local content policies similar to those in the oil and gas industry would significantly boost local participation in the export sector.