‘Private sector needs urgent repositioning to harness $3.4trn AfCFTA’

By : Isaac Chibuife

Date: 31 December 2025 5:24am WAT

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AfCFTA

AfCFTA

Chairman of the NEPAD Business Group Nigeria (NBGN), Bashorun Randle, has called on the Federal Government to urgently reposition Nigeria’s private sector to fully harness opportunities within the $3.4 trillion African Continental Free Trade Area (AfCFTA) market.   Randle said stabilising the economy and achieving sustainable growth would require stronger and more deliberate private sector participation, stressing that unlocking business opportunities remains central to the objectives of the current administration.    He underscored the need for targeted policies and structural reforms that would enable Nigerian businesses to effectively leverage emerging opportunities under the AfCFTA framework, particularly as intra-African trade gains momentum.

According to him, a competitive and well-supported private sector is critical to boosting trade volumes, attracting investment, creating jobs and strengthening Nigeria’s standing in continental commerce.

“A vibrant private sector is indispensable to Nigeria’s economic transformation,” he said. “Without deliberate efforts to empower businesses, especially small and medium-sized enterprises, the country risks missing out on the full benefits of AfCFTA.”

Randle noted that improving the overall business environment—through better infrastructure, access to finance, streamlined regulations and export facilitation – would be crucial for Nigeria to maximise AfCFTA’s potential and achieve long-term economic stability.   He reaffirmed NBGN’s commitment to working closely with government and other stakeholders to advance economic development both in Nigeria and across Africa.

According to him, the group’s key priorities include strengthening partnerships with public sector institutions and the organised private sector, supporting micro, small and medium-sized enterprises (MSMEs) to meet certification and export requirements, and deepening policy advocacy aimed at trade-enabling reforms.    “As AfCFTA implementation deepens, Nigeria must ensure its businesses are adequately prepared, competitive and supported to trade across the continent,” Randle added.

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