Former Minister of Interior and leading shipowner, Capt. Emmanuel Ihenacho, has emphasized the crucial role of Nigeria’s maritime sector in unlocking the full potential of the African Continental Free Trade Area (AfCFTA), a market of 1.3 billion people and $3.4 trillion GDP.
Highlights:
Strategic Opportunity: AfCFTA presents a transformative channel for national growth
Maritime Sector: Central to AfCFTA’s success, with shipping as primary mode for cross-border trade
Challenges: Inadequate infrastructure, bureaucratic inefficiencies, maritime insecurity, and skills gaps
Ihenacho urged stakeholders to collaborate, innovate, and plan strategically to position Nigeria competitively within continental and global value chains.
Opportunities Ahead:
Expanded Trade Influence: Nigeria can significantly expand its trade influence
Economic Growth: AfCFTA can drive job creation and regional integration
Maritime Development: Improved logistics, transportation corridors, and port infrastructure
