Tinubu Champions Faster Borders and Local-Currency Trade to Boost Africa’s Economy
President Bola Ahmed Tinubu has stressed that Africa’s economic success will be measured not by lofty declarations but by tangible outcomes such as faster border crossings, efficient port operations, and reliable local-currency settlements. Speaking at the opening of the Customs Pact – Partnership for African Cooperation in Trade, Tinubu said practical implementation must drive the continent’s integration agenda.
Represented by Vice President Kashim Shettima, Tinubu highlighted that fragmented markets cannot achieve industrial scale or withstand global shocks. “Success will be judged not by communiqués but by real outcomes: shorter border-crossing times, reliable local-currency settlements, and efficient movement of goods across borders and ports,” he said, emphasizing that integration must positively impact traders, manufacturers, logistics operators, and farmers.
The President also called for disciplined reforms across African nations, urging governments to build border systems that match the pace of technological advancement and economic ambition. While acknowledging the historic significance of the African Continental Free Trade Area (AfCFTA) agreement, Tinubu said that the real challenge lies in execution. “The strength of a continental market can only be engineered, not declared,” he noted, citing Nigeria’s approach through infrastructure upgrades, digital systems, and institutional coordination.
Tinubu detailed Nigeria’s trade-enabling reforms, including the unification of the foreign exchange window, removal of fuel subsidies to fund infrastructure, and modernization of port operations with 24-hour clearance. He highlighted the Pan-African Payment and Settlement System (PAPSS) as a key driver for boosting intra-African trade and increasing non-oil exports. Furthermore, the President unveiled plans for a National Single Window platform, which will centralize import and export data, automate inter-agency communication, and reduce cargo clearance from 21 days to under seven by December 2026.
Closing his address, Tinubu cited measurable progress: intra-African trade is projected to rise from 15% in 2023 to 25% by 2030, non-oil exports to African markets grew 38% year-on-year in 2024, and cargo clearance times at major ports have dropped 30%. He concluded, “When structural barriers fall and systems function predictably, African trade expands rapidly and dynamically,” underscoring that Africa’s future prosperity relies on action, not rhetoric.
source: nairametrics