Nigeria, Liberia deepen trade ties under AfCFTA agenda

Nigeria and Liberia are deepening their economic cooperation, reaffirming their commitment to expanding bilateral trade and attracting investment. This renewed focus was highlighted at the Liberia–Nigeria Trade and Investment Forum held in Lagos, which brought together policymakers, business leaders, and investors.

The forum, organized by the Liberian government through its embassy in Nigeria and the Honorary Consul General's office in Lagos, centered on "Building Bridges for Shared Prosperity: Strengthening Liberia–Nigeria Trade and Investment Partnership." It specifically explored the opportunities created by the African Continental Free Trade Area (AfCFTA) and the necessity for robust intra-African commercial partnerships. Participants agreed that enhanced trade and investment are crucial for driving industrialization, creating jobs, and achieving sustainable economic growth across the region.

Joseph Umar, Managing Director of the Tafawa Balewa Square Management Board, delivered a keynote address on behalf of Nigeria's Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole. He emphasized that regional collaboration is vital for unlocking Africa's economic potential, stimulating trade, improving competitiveness, and developing value chains. Umar commended Liberia for hosting the forum and reiterated Nigeria's dedication to initiatives promoting cross-border investment and private sector growth within West Africa.

The event facilitated discussions on investment opportunities in sectors such as agriculture, energy, infrastructure, mining, technology, and tourism. Key areas of focus included improving market access, enhancing the ease of doing business, fostering public-private partnerships, and creating supportive policy environments. Liberian representatives outlined the country's economic reforms and commitment to establishing a transparent, investor-friendly climate to support sustainable economic transformation.

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stronger partnerships between African economies would stimulate trade and investment, improve regional competitiveness, enhance value chain development and create new opportunities for businesses across the continent.