Nigerian Export Promotion Council (NEPC) has described the recently launched Market Intelligence tool for the African Continental Free Trade Area (AfCFTA) by the federal ministry of Industry, Trade and Investment as a bold step toward unlocking the full potential inherent AfCFTA for Nigerian businesses.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole had launched the Market Intelligence tool in Abuja, announcing Nigerian partnership with the Uganda Airline.
Counting the benefits of the Market intelligence tool, the Executive Director of NEPC, Nonye Ayeni, emphasised that the initiative will support businesses and policymakers by providing critical data on market trends, consumer behavior, tariff, pricing. trade opportunities amongst others.
According to her, “all these are necessary for quality decision making and seamless trade within the African continent.
“Logistics on the other hand plays a vital role in intra continental trade particularly in AFCFTA because it enables the smooth movement of goods across borders, reducing trade cost and connecting markets.
“So logistics is not just a supporting function but a strategic enabler for intra regional trade and economic transformation.”
Ayeni explained “all these as well as the recent gazetting of Nigeria’s Provisional Schedule of Tariff Concessions under the AfCFTA framework are achievements that solidify Nigeria’s commitment to continental integration and trade facilitation.
“The Nigerian Export Promotion Council, as the apex agency with the mandate to promote the development of non oil export, the NEPC has been actively engaged at every stage of the AfCFTA process and plays critical roles in promoting non-oil export trade across the African continent.
“Since the establishment of NEPC 49 years ago, Nigeria recorded the highest value for non oil export to tune of $5.456 billion in 2024, an increase of 20.77 per cent from $4.517 billion in 2023.
“Nigeria’s Non-oil products exported in the first quarter of 2025 also increased by 24% compared to 1st quarter of 2024”.
She stated that about 10 member countries of ECOWAS actively engaged in importing Nigerian products in the First Quarter of the year 2025, constituting 3.52 per cent of the total export value of $63 million which is a significant increase of 223.10 per cent when compared to the recorded figure of $ 19.517 million for the First Quarter of the year 2024.
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“Nigeria also exported to other African countries in the first quarter of 2025. The value of these exports, totalling 281,480.29 Metric Tons valued $32.732 million, represented 1.83 per cent of the total export value”.
The ED further noted that the Nigeria Export Promotion Council working with “our supervising ministry, the Federal Ministry of Industry, Trade and Investment, and other stakeholders remains committed towards empowering and building the capacity of the exporters and players in the export value chain from the farm gate to market access. Also providing support to ensure that we meet up with global quality and standards to curb rejects.
“Over the years, NEPC has come up with various initiatives to ensure that Nigerian businesses, particularly SMEs, can participate meaningfully and competitively in the AfCFTA market.
“This is why the launch of the Market Intelligence Tool is such a welcome development. It reflects our shared recognition that for businesses to thrive, they must be equipped with the right knowledge and insights” she stated.
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