Nigeria has officially assumed the presidency of the Council of Ministers responsible for Trade of the African Continental Free Trade Area (AfCFTA). The handover, which took place at the conclusion of the 18th meeting of the Council on June 30, 2026, marks a significant shift in leadership as Nigeria takes over the role from Egypt.
Under this new mandate, Nigeria is expected to prioritize a transition from mere policy commitments to concrete, field-level actions. Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment, who assumed the chair, emphasized that the continent must now focus on delivering tangible benefits to businesses, entrepreneurs, and the more than 1.4 billion people living across the continent.
The call for urgency was echoed by Wamkele Mene, Secretary-General of the AfCFTA Secretariat. During the opening remarks, Mene framed the AfCFTA not merely as a trade agreement, but as a vital strategic instrument to bolster Africa’s economic resilience against a backdrop of global uncertainty.
“The priority now is full implementation, delivering tangible results for SMEs, African investors, and economic operators,” Mene noted. He highlighted that in an international climate plagued by geopolitical tensions and frequent supply chain disruptions, the AfCFTA offers a shield against external shocks. By fostering a more integrated, self-sufficient continental market, Africa can reduce its historical dependence on volatile global markets and stimulate sustainable, home-grown industrial growth.
The 18th meeting served as a critical forum for advancing the governance framework of the world’s largest free trade area. Discussions focused heavily on the status of legal instruments and the operationalization of key institutions. Among the primary agenda items was the launch of the selection process for the host countries of the AfCFTA Competition Authority and the Competition Tribunal. These institutions are expected to be the cornerstones of a fair and competitive continental market, ensuring that the liberalization of trade does not lead to anti-competitive practices or market consolidation by a select few.
The AfCFTA remains an ambitious undertaking, aiming to unify a market of over 1.3 billion consumers with a combined GDP of nearly $3.4 trillion. Success in this endeavor is viewed as the primary catalyst for accelerating Africa’s industrialization, creating millions of jobs, and lifting the continent’s manufacturing sector out of its historical role as primarily a raw material supplier.
