Olusegun Adeyemo
The Oyo State Government will tomorrow (Friday) unveil its African Continental Free Trade Area (AfCFTA) implementation strategy, becoming the first Nigerian state to formally adopt and domesticate the continental trade framework.
The Special Adviser to Governor Seyi Makinde on International Trade and AfCFTA, Neo Theodore-Tlhaselo, disclosed this on Thursday while briefing journalists at the Governor’s Office in Ibadan.
Established in 2018 and operational since January 2021, the AfCFTA is the world’s largest free trade pact by participating countries, uniting 54 African nations into a single market of more than 1.4 billion people with a combined GDP of over $3.4 trillion. It aims to boost intra-African trade by lowering tariffs, harmonising rules, and enabling freer movement of goods and services.
Although Nigeria signed the agreement in July 2019, progress on domestic implementation has been slow, especially at sub-national levels. Oyo’s initiative therefore marks a historic first, positioning the state as a pioneer in localising the framework.
According to Theodore-Tlhaselo, the launch will draw participation from high-profile stakeholders, including AfCFTA Secretary-General Wamkele Mene, African Union representatives, Federal Government officials, and leading figures in regional trade and investment.
“This programme will transform trade and the economy of Oyo State, in line with AfCFTA’s vision of making Africa a global economic hub,” she said. “By harnessing AfCFTA opportunities, the state seeks to attract investments, boost commerce, and create a more enabling environment for businesses.”
She commended Governor Makinde’s foresight in prioritising international trade and economic diversification. With its population of over eight million and thriving business landscape, Oyo, she added, has the fundamentals to become a regional trade hub.
The Special Adviser further noted that the Sub-National AfCFTA Programme aligns with Nigeria’s wider goal of improving trade competitiveness under the continental agreement. Oyo’s trailblazing effort, she said, is expected to serve as a model for other states eager to tap into Africa’s $3.4 trillion market.