Accra:The Minister of State for Foreign Affairs, Amb. Sola Enikanolaiye, has emphasized the importance of focusing on trade and economic cooperation within the framework of Pan-African diplomacy. He delivered these remarks during a ministerial roundtable titled ‘Trade and Economic Cooperation at the Centre of Pan-African Diplomacy’ held in Egypt.
According to News Agency of Nigeria, Dr. Badr Abdelatty, Egypt’s Minister of Foreign Affairs, hosted the roundtable, which saw participation from officials representing various African organizations and financial institutions. Enikanolaiye highlighted that African diplomacy should integrate trade and diplomacy, as partnerships thrive when grounded in shared economic goals.
The minister emphasized Nigeria’s commitment to fostering trade and economic cooperation across the continent, noting the potential of the digital economy in creating a unified market. He mentioned the growth of Nigeria’s information and communication sector and the country’s role in the AfCFTA Digital Trade Protocol.
Nigeria is also supporting African investment initiatives, such as the Economic Development Tax Incentive, which offers tax credits to investors in key sectors. Enikanolaiye pointed out the role of Nigerian entrepreneur Aliko Dangote in setting an example for intra-African investments.
He also discussed the African Continental Free Trade Area (AfCFTA), which has seen significant progress with the majority of signatory countries ratifying it. Nigeria has validated its National AfCFTA Implementation Strategy and begun trading under the Guided Trade Initiative.
Addressing trade barriers, Enikanolaiye called for streamlined border procedures and enhanced access to finance, particularly for small businesses and entrepreneurs. He stressed the need for political engagement to address these issues and urged regular coordination among African ministries to facilitate trade.
In closing, Enikanolaiye praised the strong bilateral relationship between Nigeria and Egypt, highlighting recent collaborative initiatives and expressing optimism for future joint projects in digital transformation.