The NEPAD Business Group Nigeria (NBGN) has reaffirmed its commitment to driving private sector–led economic transformation across Nigeria and the African continent, emphasizing the immense opportunities under the African Continental Free Trade Area (AfCFTA). The group highlighted the critical role of businesses in unlocking Africa’s $3.4 trillion market potential and accelerating economic growth.
At the 2025 High-Level Business Forum in Lagos, NBGN Chairman Bashorun J.K. Randle stressed that Africa’s economic ambitions could only be achieved through decisive action rather than mere policy statements. “The private sector must lead the next phase of Africa’s development,” he said, urging coordinated efforts to strengthen trade, innovation, and competitiveness across the continent.
The forum, themed “Mobilising Africa’s Private Sector for AfCFTA towards Africa’s Economic Development Amid Global Uncertainty”, brought together business leaders, policymakers, and development partners. Participants examined strategies to enhance private sector engagement, emphasizing that tangible outcomes must accompany Africa’s trade aspirations.
Key discussions highlighted urgent priorities for regional economic growth, including improved access to long-term financing for Micro, Small, and Medium Enterprises (MSMEs), stronger institutions, harmonized trade standards, and expanded public-private partnerships to address critical infrastructure gaps. Experts agreed that these measures are essential to facilitate seamless cross-border trade and foster sustainable development.
Concluding the forum, Randle reaffirmed NBGN’s dedication to transforming Africa’s economic landscape. “We will continue to work tirelessly to ensure that Nigeria and Africa at large move from ambition to action, building a prosperous continent powered by competitive enterprises, innovation, and robust institutions,” he said, underscoring the pivotal role of private businesses in shaping Africa’s future.
source: punch