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The Nigerian Government has achieved a reasonable degree of economic stability and growth and is gradually moving towards economic and social development, the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, has said.
Enikanolaiye stated this on Saturday while speaking with journalists on the sidelines of a sensitisation workshop on the ECOWAS Trade Liberalisation Scheme for the North-East geopolitical zone in Bauchi.
The workshop, themed “Increasing Intra-Regional Trade Through ECOWAS Trade Liberalisation Scheme,” was organised by the ECOWAS National Unit of the Ministry of Foreign Affairs in collaboration with the Bauchi State Government.
The minister said the programme was part of efforts to bring Nigeria’s foreign policy closer to the people while creating economic opportunities for businesses, entrepreneurs and other stakeholders.
“One of the main reasons we decided to organise this workshop is in line with our 4D foreign policy framework, which places the Nigerian people at the centre of our foreign policy,” he said.
Enikanolaiye said the government was exploring ways to bring foreign policy closer to Nigerians at the grassroots, particularly by enhancing their prosperity and expanding economic opportunities within West Africa.
He said the workshop was designed to encourage Nigerian businesses, including small and medium-sized enterprises, large companies and agricultural enterprises, to explore opportunities within the West African sub-region and the wider African market.
He added that the programme would also help businesses understand opportunities under the African Continental Free Trade Area Agreement.
“We believe that not much information is available to the public about this scheme. Therefore, through these zonal workshops, we intend to raise awareness about the ECOWAS Trade Liberalisation Scheme, its scope and the requirements Nigerian companies must meet to register and benefit from it,” the minister said.
According to him, the sensitisation programme would be held across the six geopolitical zones before concluding in Abuja.
He said the government would begin with the North-East before moving to the North-Central, North-West, South-South, South-East and South-West.
“We believe that by the time we complete this process, awareness about the scheme and the opportunities available under it will have increased substantially,” he said.
Government targets industrialisation
Enikanolaiye said the Nigerian Government was also focusing on strengthening the country’s productive base through industrialisation and value addition.
“We want to focus on industrial value addition. We believe that the productive base of the Nigerian economy has to improve so that we can produce more, generate more jobs and create opportunities for our growing youth population,” he said.
Speaking on the state of the economy, the minister said the economic reforms of President Bola Tinubu’s administration had contributed to greater stability and growth.
“Price fluctuations are a function of the macroeconomic and microeconomic policies of every country, but I can only speak for Nigeria on this occasion.
“I can say, without fear of contradiction, that the economic reforms of President Bola Tinubu have achieved a great degree of stabilisation and growth,” he said.
Enikanolaiye argued that economic growth was essential to achieving development.
“You cannot promote economic development without growth. If you have an economy suffering from zero growth or negative growth, there is no way we can talk about the benefits of development.
“So, we have attained that stage, and we are moving progressively towards economic development, social development and prosperity,” he added.
The minister acknowledged that inflation remained high but said it was declining, while other economic indicators were showing signs of improvement.
“Inflation is coming down, even though it is still high. We admit that. But we have achieved a reasonable degree of economic stability, and all of us must now work together to ensure that we move towards development, economic prosperity and shared prosperity for the people of Nigeria,” he said.
Credit: Kapital FM
Bauchi seeks stronger regional trade
In his remarks, Bauchi State Governor, Bala Mohammed, said the state government was committed to supporting local investment and expanding opportunities for businesses.
The governor, who was represented by his deputy, Auwal Jatau, said the ECOWAS Trade Liberalisation Scheme was designed to facilitate legitimate trade in qualifying products originating within the ECOWAS region.
He said the scheme would promote investment, expand markets, strengthen production and deepen economic cooperation among member states.
Mohammed said the North-East was richly endowed with agricultural, livestock, mineral and industrial resources, alongside farmers, entrepreneurs, manufacturers, processors, traders and young people seeking productive economic opportunities.
“The ETLS sensitisation programme should therefore serve as a bridge between knowledge and opportunity, between local enterprise and regional prosperity,” he said.
The governor urged participants to leave the workshop with a clear understanding of the scheme, its opportunities, registration requirements, relevant institutions and the standards their products must meet to compete in the regional market.
He said stakeholders should not merely learn about ETLS but understand how to use it to access markets across West Africa.
Mohammed also called for stronger economic cooperation among states in the North-East, noting that the region had complementary economic strengths.
He identified challenges including border delays, multiple checkpoints, inadequate transportation infrastructure, non-tariff barriers and limited access to accurate trade information.
According to him, such challenges disproportionately affect small businesses and entrepreneurs who may lack the resources to navigate complex procedures.
The governor said the sensitisation programme should produce practical outcomes, including greater awareness of ETLS, improved compliance and stronger institutional coordination.
He pledged the commitment of the Bauchi State Government to work with the Ministry of Foreign Affairs, the ECOWAS Commission, regulatory agencies, neighbouring states, development partners and the organised private sector to address barriers preventing businesses from benefiting fully from regional trade arrangements.
Mohammed urged stakeholders to move “from conversation to implementation, from potential to productivity and from local production to regional competitiveness.”
He said farmers, manufacturers, women entrepreneurs, young entrepreneurs, cooperatives, processors and traders should become active beneficiaries and drivers of regional integration.
