AfCFTA projects $250 billion intra-African trade, praises Lagos's role in industrialization and digital innovation
via Punch Nigeria3 min read
Wamkele Mene, Secretary-General of the African Continental Free Trade Area, announced that intra-African trade is projected to reach $250 billion in 2026, up from $220 billion in 2025. Speaking at the 'Invest Lagos 3.0' Conference, Mene commended the Lagos State Government for positioning the city as a leading center for Africa's industrialization and digital innovation. He noted that 50 African countries are currently implementing the AfCFTA agreement, with all protocols concluded. Mene emphasized the need for Africa to deepen trade among its countries due to global economic challenges limiting access to traditional export markets. He highlighted that external shocks like the COVID-19 pandemic and geopolitical tensions exposed Africa's vulnerability to supply chain disruptions and import dependence, stressing that strengthening intra-African trade will build resilience. Key barriers to trade growth identified include high trade finance costs, inadequate transport infrastructure, logistics bottlenecks, and restrictions on the movement of people. Mene cited that transporting goods between Lagos and Abidjan can take up to 17 days due to checkpoints. He advocated for wider adoption of visa-free policies and visa-on-arrival arrangements for African business travelers, commending countries like Nigeria, Ghana, and Rwanda for easing travel restrictions. Mene described Lagos as Africa's leading fintech hub, projecting the continent's digital economy to reach $712 billion by 2035. He
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A suspect has been arrested and confessed to stealing cash from several Super Falcons players at the Marriott Hotel in Casablanca, Morocco. The incident occurred days before Nigeria's opening match at the 2026 Women鈥檚 Africa Cup of Nations. Midfielder Esther Okoronkwo stated on social media that she, goalkeeper Chiamaka Nnadozie, defender Michelle Alozie, and captain Rasheedat Ajibade were among those from whom over $1,000 was stolen. Okoronkwo also accused hotel staff of disrespect and failing to address the matter properly. Following public complaints, Nigerian journalist Colin Udoh confirmed the arrest and confession, adding that full restitution would be made to the players. The Super Falcons, who had been training in Mohammedia before moving to Rabat, are now focused on their tournament campaign, set to begin against Malawi on Tuesday.
The United Nations Industrial Development Organisation has selected Ogun State as a key Nigerian state to lead the country's transition to a circular economy. This recognition is based on Ogun's environmental sustainability initiatives and climate change programs. Ogun is now part of Project 220145 Component 2, which aims to advance Nigeria's green and just transition to net-zero emissions through circular economy efforts. The Commissioner for Environment, Ola Oresanya, stated that this recognition validates the state's environmental policies and adds to its achievements in climate change programs and circular economy projects. Ogun State's environmental interventions include distributing biomass smokeless stoves to over 3,000 residents, deploying electric motorcycles and compressed natural gas buses, and implementing the Blue Box waste segregation scheme, Plastic for Cash recycling program, community recycling projects, cement industry decarbonisation initiatives, and senatorial material recovery centers. These initiatives aim to promote resource recovery, reduce pollution, and create green jobs. Emem Umana, National Field Coordinator of the UNIDO Nigeria Office, commended Ogun State for its commitment and urged it to continue its environmental and socio-economic reforms, highlighting its international recognition and role as a model for other states pursuing green development.
Nigeria's Flying Eagles will start their WAFU B U-20 Championship title defense against Ghana today, Monday, in Yamoussoukro, Ivory Coast. This match is a repeat of the last edition's final, where Nigeria defeated the Black Satellites 2-1 in Lom茅, Togo, to retain the title they first won in 2022. New head coach Abdu Maikaba aims for a winning start, stating, "We are going for an outright victory against Ghana because our objective is to retain the trophy and we have to start winning our matches from Day One." The game is scheduled for 2 p.m. local time 3 p.m. Nigeria time at the Lyc茅e Scientifique de Yamoussoukro. Nigeria recently secured a 2-1 friendly victory against Athl茅tique Club de Zenuola. A win against Ghana would significantly boost the seven-time African champions' chances of qualifying for the semi-finals. Nigeria's subsequent Group B matches are against Togo on July 30 and Burkina Faso on August 2, both at 2 p.m. local time. Hosts Ivory Coast are in Group A with Benin Republic and Niger Republic.