The Secretary-General of the African Continental Free Trade Area (AfCFTA),  Wamkele Mene, has disclosed that t

he continental trade bloc is on course to achieve an annual intra-African trade volume of $250 billion in the current year, up from $220 billion recorded in 2025. This is even as he commended the Lagos State Government for positioning the city as a leading centre for Africa’s industrialisation and digital innovation. Speaking at the just ended ‘Invest Lagos 3.0’ Conference Lagos Mene said the huge leap is reflecting growing implementation of the AfCFTA agreement across the continent. He noted that, 50 African countries are currently implementing the agreement and that all the protocols underpinning the trade pact have been concluded, creating a stronger foundation for economic integration and regional commerce. He stated: “Many African countries have lost market share in key international markets and face increasing trade barriers. We have to build a strong domestic market within Africa because our future growth lies here on the continent. He stressed that, strengthening intra-African trade would help the continent become more resilient to future economic shocks. He identified high trade finance costs, inadequate transport infrastructure, logistics bottlenecks and restrictions on the movement of people as some of the major barriers limiting trade growth across Africa.

VANGUARD