Nigeria Urged To Address Infrastructure Gaps To Maximise AfCFTA Benefits

Nigeria has been urged to tackle inadequate infrastructure, bureaucratic bottlenecks, and skills gaps to fully harness the benefits of the African Continental Free Trade Area (AfCFTA).

With the right policies and investments, AfCFTA has the potential to drive economic growth, job creation, and regional integration.

Former Minister of Interior, Capt. Emmanuel Ihenacho, made the remarks on Thursday at the launch of a book titled “Fifty Drivers of the Nigerian Maritime and Blue Economy”, authored by the Maritime Reporters Association of Nigeria (MARAN) in Lagos. He noted that Nigeria’s maritime industry is a vital component of the national economy with immense growth potential.

According to Ihenacho, Nigeria has made significant strides in the maritime sector, including the establishment of the Nigerian National Shipping Line (NNSL) in 1959, the National Maritime Authority (NMA) in 1988, and the Nigerian Maritime Administration and Safety Agency (NIMASA) in 2007. He highlighted landmark initiatives such as Cabotage, the Maritime Silk Road (MSR), and the AfCFTA, which have promoted regional economic integration, trade, and cooperation.

Ihenacho described the Maritime Silk Road as part of China’s Belt and Road Initiative (BRI), spanning over 10,000 km of sea routes connecting China to the world, enhancing economic connectivity. He emphasized that AfCFTA offers Nigeria a massive market of 1.3 billion people with a combined GDP of $3.4 trillion, making it a significant economic game-changer.

Also speaking, Tunde Ayodele, Chairman of MARAN’s Caretaker Committee, noted that the publication was conceived over two years of research and consultation. He said the book documents excellence in Nigeria’s maritime industry, profiling individuals, private sector organisations, government agencies, and unions that have advanced the country’s Marine and Blue Economy.

Ayodele stressed that recognising these contributors is vital as Nigeria repositions its Marine and Blue Economy architecture, highlighting the collaborative ecosystem driving growth, reforms, and innovation in the maritime sector.