Says AfCFTA not meant to isolate continent but to deepen regional commerce and expand opportunities for SMEs….
The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, says strengthening cross-border trade within Africa holds substantial long-term economic value for Nigeria and the continent.
Adeniyi spoke during a media briefing at the State House, Abuja, on Friday, where he explained that regional economic blocs typically reduce or suspend customs duties on goods traded among member states to encourage commerce.
He said the African Continental Free Trade Area (AfCFTA) is building on existing regional frameworks to create seamless trade across the continent.
While customs revenue remains vital for funding public services such as education, health, and infrastructure, the customs chief said the economic prosperity generated by open trade far outweighs short-term revenue losses.
“If you also encourage citizens to trade, especially across borders, the benefits that come from trade are quite huge,” Adeniyi said.
“Trade has historically been a major source of wealth. Many of Africa’s wealthiest individuals built their fortunes through trading. So we must strike a balance either we focus solely on revenue collection and restrict trade, or we create a healthy mix that allows both to thrive.”
‘Africa must trade more with itself’
Adeniyi emphasised that AfCFTA does not seek to shut Africa off from the rest of the world.
“The market is not only in Africa. AfCFTA is not asking us to become an autarchy or stop global trade,” he said.
“What the free trade area is saying is that African countries should trade more within themselves.”
He noted that exporting Nigerian products to African destinations such as Kenya attracts lower logistics costs and avoids complications associated with converting currencies, factors that make intra-African trade more efficient for businesses.
According to him, the suspension of some customs duties under AfCFTA is intended to liberalise the continental market and allow African-made goods to circulate freely across borders.
Adeniyi cited National Bureau of Statistics (NBS) data showing that African countries were Nigeria’s largest export destinations in both 2023 and 2024.
He added that President Bola Tinubu has directed all relevant agencies to remove obstacles especially non-tariff barriers to ensure more Nigerians, including small and medium-scale enterprises (SMEs), can access broader African markets.
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