Key points
- The Federal Government has urged Nigerian startups and digital businesses to lead Africa’s cross-border trade expansion under the African Continental Free Trade Area (AfCFTA).
- Minister of Industry, Trade and Investment, Jumoke Oduwole, said AfCFTA has moved from negotiation to implementation.
- The minister commended Togo for removing visa requirements for African passport holders and short-stay investors.
- Nigeria is encouraging startups in fintech, e-commerce, logistics, agritech, manufacturing, and digital services to participate in the AfCFTA Startup Acceleration Programme 2026.
- Applications for the programme, supported under the AfCFTA–Korea Africa Foundation partnership, close on May 24, 2026.
Main story
The Federal Government has called on Nigerian startups and digital enterprises to position themselves at the forefront of Africa’s emerging cross-border trade ecosystem as implementation of the African Continental Free Trade Area gathers momentum.
Speaking during discussions at the Biashara Africa 2026 forum, the Minister of Industry, Trade and Investment, Jumoke Oduwole, said the continent had spent years negotiating trade agreements and must now prioritize practical implementation capable of delivering tangible economic benefits.
Oduwole, who is also the incoming Chair of the AfCFTA Council of Ministers, said recent reforms across the continent signaled growing commitment by African governments to deepen regional integration and remove long-standing trade barriers.
She specifically praised the Government of Togo for eliminating visa requirements for African passport holders and investors travelling into the country for short stays, describing the move as a major breakthrough for continental mobility, investment, and trade.
According to the minister, easier movement across African borders would help reduce bureaucratic bottlenecks that have historically slowed intra-African trade and discouraged business partnerships.
The minister also announced the AfCFTA Startup Acceleration Programme 2026, a flagship initiative under the AfCFTA–Korea Africa Foundation partnership designed to support 30 high-potential African startups seeking expansion into international markets, particularly South Korea.
She noted that Nigerian startups operating in fintech, e-commerce, logistics, agritech, manufacturing, and digital platforms stand to benefit significantly from the initiative.
The African Continental Free Trade Area, which officially commenced trading in January 2021, remains one of the world’s largest free trade frameworks, bringing together 54 African countries into a single market aimed at boosting industrialization, trade, and economic growth across the continent.
The issues
Despite Africa’s large population and economic potential, trade among African countries remains relatively low compared to other global regions.
Industry experts have repeatedly linked the challenge to infrastructure deficits, visa restrictions, weak logistics networks, and regulatory bottlenecks that continue to hinder seamless movement of goods, services, and investments across borders.
Stakeholders also argue that the long-term success of AfCFTA will depend not only on government reforms but on the ability of African businesses, innovators, and startups to scale beyond domestic markets and build competitive continental value chains.
Nigeria, Africa’s largest economy by GDP, is expected to play a central role in the implementation of the agreement due to its growing digital economy, expanding startup ecosystem, and large consumer market.
What’s being said
“As discussions continue at Biashara Africa 2026, one message remains clear: Africa has negotiated, signed, and agreed. Now, Africa must trade.”, Jumoke Oduwole affirmed.
“A significant milestone has been recorded for African economic integration – the announcement by the Government of Togo to remove visa requirements for African passport holders and investors travelling into the country for short stays.” — Oduwole added.
“We commend His Excellency President Faure Gnassingbé and the Government of Togo for taking decisive action that advances the spirit and objectives of the AfCFTA Agreement.”, she further highlighted.
What’s next
Applications for the AfCFTA Startup Acceleration Programme 2026 will close on May 24, 2026, with selected startups expected to receive support aimed at improving competitiveness and expanding into global markets.
The Federal Government is also expected to continue pushing digital trade reforms and regional integration initiatives designed to strengthen Nigeria’s position within Africa’s evolving single market framework.
Analysts believe further progress on border mobility, infrastructure, and logistics reforms will be critical to unlocking the full economic potential of the AfCFTA agreement.
Bottom line
As AfCFTA shifts from policy discussions to implementation, Nigeria is positioning its startup ecosystem and digital economy as key drivers of Africa’s next phase of trade integration, with increased mobility and cross-border commerce expected to open new opportunities for businesses across the continent.
