Oyo State will on Friday officially launch its African Continental Free Trade Area (AfCFTA) sub-national implementation strategy, becoming the first state in Nigeria to adopt and begin executing the continent-wide trade agreement at the local level.
The announcement was made on Thursday by Neo Theodore-Tlhaselo, the Special Adviser to Governor Seyi Makinde on International Trade and AfCFTA, during a press briefing at the Governor’s Office in Ibadan.
The AfCFTA, which came into force in January 2021, is the world’s largest free trade area by number of participating countries, aiming to create a single market across Africa with over 1.4 billion people and a combined GDP of more than $3.4 trillion. Its primary goals include reducing trade barriers, harmonising regulations, and facilitating the free movement of goods and services within the continent.
While Nigeria signed the AfCFTA agreement in July 2019, the integration of its provisions into state-level economic strategies has lagged. Oyo’s move to implement the framework at the sub-national level is being hailed as a historic and strategic milestone.
According to Theodore-Tlhaselo, the launch event will bring together top stakeholders including AfCFTA Secretary General Wamkele Mene, representatives of the African Union, the Nigerian Federal Government, and other notable figures from across the continent.
“This programme will improve trade and economy of the state, aligning with AfCFTA’s vision to make Africa a global economic hub,” she said.
“By this launch, Oyo will become the first sub-national entity to achieve this feat, positioning itself as a leader in economic integration and trade facilitation. It will mark a significant milestone in the state’s economic development.”
Theodore-Tlhaselo also emphasised the Makinde administration’s commitment to transforming Oyo into a regional trade powerhouse. “With a population of over eight million and a vibrant business environment, the state is well-positioned to leverage the benefits of AfCFTA,” she noted.
The Sub-National AfCFTA Strategy is designed to attract investments, increase exports, support local businesses, and improve the ease of doing business—thus aligning with Nigeria’s broader national ambitions under the continental trade deal.
Observers say Oyo’s bold step may serve as a blueprint for other Nigerian states seeking to localise the AfCFTA and tap into Africa’s vast economic potential.
