Market News

BY Damilola Aina

The Federal Ministry of Industry, Trade and Investment, in collaboration with the United Nations Development Programme and Uganda Airlines, has officially launched the Nigeria–East/Southern Africa Air Cargo Corridor—a transformative export initiative under the African Continental Free Trade Area framework.

Speaking at the landmark event held on Africa Day at the Nnamdi Azikiwe International Airport, Abuja, on Sunday, the Minister of Industry, Trade and Investment Dr Jumoke Oduwole, announced that the new air corridor will provide Nigerian exporters with access to three key African hubs—Uganda, Kenya, and South Africa—with air cargo rates discounted between 50-75 per cent reduction in logistics cost (including regulatory charges).

This initiative marks Nigeria’s key campaign promise by President Bola Tinubu to accelerate the diversification of Nigeria’s non-oil exports by leveraging the opportunities presented by the AfCFTA.

Specifically designed to empower Nigerian enterprises, particularly MSMEs, this initiative enables them to expand into African markets with greater confidence, lower costs, faster delivery timelines, and reduced risk.

The preferential cargo rates will apply to businesses affiliated with leading national business associations, including Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Nigeria Association of Small and Medium Entrepreneur, Nigerian Association Of Small Scale Industralists, and Women Chamber of Commerce Industry Mines & Agriculture, ensuring inclusive participation and coordinated implementation.

This milestone follows Tinubu’s approval and the formal gazetting of Nigeria’s Provisional Schedule of Tariff Concessions in April 2025.

With support from the UNDP Regional Bureau for Africa, the Ministry has worked to position Nigeria not just as a participant in AfCFTA, but as a leader in shaping and advancing the agreement’s implementation.

Operating from Lagos and Abuja, the corridor is backed by strong government collaboration.

In her remarks, the trade minister expressed appreciation to the Minister of Finance and the Coordinating Minister of the Economy, the Minister of Aviation, as well as the Comptroller General of the Nigeria Customs Service, and the MD/CEO, Federal Airports Authority of Nigeria, for facilitating and being instrumental to its successful launch.

The inaugural cargo shipment featured a diverse basket of Made-in-Nigeria products, including textiles, cosmetics, fashion accessories, and agro-processed goods, marking the beginning of a new era for Nigerian exports into African markets.

Notably, all exporters on this historic flight were women-owned businesses. These female entrepreneurs were recognized as pioneers, leading the charge in positioning Nigerian enterprises at the forefront of intra-African trade.

“AfCFTA tariffs are now gazetted, enabling Nigerian goods to benefit from lower tariffs across African markets. As we mark Africa Day, I want to especially commend and thank the indefatigable Nigerian businesses participating in this inaugural flight. Today, they are exporting a diverse product basket, textiles, bags, cosmetics, agro-processed products, and more, to our African partners.

“This Administration will continue to stand with you as you take even bigger and bolder leaps to expand Nigeria’s footprint across the continent. The Federal Government remains committed to supporting Nigerian businesses in scaling their exports across the continent,” she stated.