The Federal Government has intensified efforts to position Nigerian startups for expansion across Africa under the African Continental Free Trade Area (AfCFTA), as it unveiled new initiatives targeted at scaling indigenous businesses into regional and global markets.
Punch.ng Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed the development during discussions at Biashara Africa 2026, stressing that Africa must move beyond policy agreements into practical trade and economic integration.
According to the minister, African startups, innovators, manufacturers, and digital entrepreneurs will play a major role in determining the success of AfCFTA implementation across the continent.
As part of the push, the Federal Government announced the AfCFTA Startup Acceleration Programme 2026 under the AfCFTA–Korea Africa Foundation partnership. The initiative is designed to support 30 high-potential African startups seeking to expand beyond local markets and access international opportunities, particularly in South Korea.
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The programme will reportedly provide selected startups with mentorship, business acceleration support, capacity-building opportunities, market exposure, and investment networking access.
Government officials noted that Nigerian startups operating in fintech, e-commerce, logistics, agritech, manufacturing, and digital trade platforms are expected to benefit significantly from the initiative.
Oduwole also commended recent reforms across Africa aimed at strengthening regional integration, including Togo’s removal of visa requirements for African passport holders and investors visiting the country for short stays. She described the move as a major boost for intra-African trade, mobility, and investment collaboration.
The minister emphasized that Nigeria is strategically positioning itself as a major driver of Africa’s digital trade ecosystem under AfCFTA, leveraging its growing startup ecosystem and expanding digital economy.
What You Need To Know
- AfCFTA officially commenced trading in January 2021 and currently represents one of the world’s largest free trade areas.
- The trade agreement connects 54 African countries into a single continental market.
- Nigeria has intensified implementation efforts through digital trade reforms, startup support initiatives, and simplified trade frameworks.
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Insight
The Federal Government’s renewed focus on startup expansion reflects a broader strategy to position Nigeria as Africa’s digital and innovation hub. Rather than relying solely on oil exports, policymakers are increasingly viewing technology startups and digital trade as long-term drivers of continental economic influence.
Implications
If effectively implemented, the initiative could accelerate cross-border growth for Nigerian startups, improve export competitiveness, attract foreign investment partnerships, and deepen Nigeria’s influence within Africa’s emerging digital trade economy. It may also create stronger pathways for African startups to access Asian and global markets.
Source: Punch.ng
