NEPAD Reaffirms Support for Africa’s Trade Expansion

The NEPAD Business Group Nigeria has renewed its commitment to driving private sector–led economic transformation in Nigeria and across Africa, with particular emphasis on unlocking opportunities presented by the African Continental Free Trade Area (AfCFTA).

This commitment was reiterated at the 2025 High-Level Business Forum in Lagos, where the group’s chairman, Bashorun J.K. Randle, called for swift and coordinated efforts to reposition Africa’s private sector to effectively tap into the $3.4 trillion AfCFTA market.

Randle emphasised that Africa’s economic goals can only be achieved through concrete implementation rather than policy statements, stressing that the private sector must spearhead the continent’s next phase of development. He noted that sustained efforts are needed to move from ambition to action by building a prosperous Africa powered by competitive enterprises, innovation, and strong institutions.

The forum, themed “Mobilising Africa’s Private Sector for AfCFTA towards Africa’s Economic Development Amid Global Uncertainty,” convened business leaders, policymakers, and development partners to explore strategies for accelerating private sector participation in regional trade and economic growth.

Key discussions highlighted priority areas requiring immediate attention, including improved access to long-term financing for micro, small, and medium-sized enterprises; stronger institutions and harmonised standards to facilitate cross-border trade; and expanded public-private partnerships to address the continent’s infrastructure challenges.