General
Nigeria Must Optimally Benefit from AfCFTA—Ecobank
Nigeria has been charged to lead and positions itself to get optimum benefits from the implementation of the African Continental Free Trade Agreement (AfCFTA).
This was the view of Ecobank, which said Nigeria undoubtedly has the largest and most vigorous economy in Africa and therefore must position itself to lead in the continent with a population of about 1.2 billion people that is projected to double by 2050, making it one of the largest free trade area the world.
Managing Director of Ecobank Nigeria, Mr Patrick Akinwuntan, who spoke at the 25th Nigerian Economic Summit in Abuja, highlighted the need for Nigeria to take the lead on the implementation of the AfCFTA agreement.
Mr Akinwuntan, who was at the panel session titled AfCFTA: Capitalizing on Opportunity, said there was the urgent need to fix certain infrastructures within the Nigerian economy to allow for a competitive operation and to bring about ease of trade.
He noted that infrastructures that will aid timeliness in carrying out business activities, such as fixing of the present transportation system, fixing of the current electricity issues and ease of import and export activities within our ports and borders need urgent attention.
His Actual Words
“One of the clear lessons to note for us to compete effectively, and to excel in the advantages that the AfCFTA agreement offers, is that we have to act at global standards and project Africa as one market. Nigeria has the largest economy in Africa, and as such we need to step up, by fixing all the hindrances to the AfCFTA agreement within our economy,” the bank chief said.
He further said some smaller countries are already positioning themselves for the opportunities that abound in the free trade agreement, and so Nigeria must be ready.
For the financial institutions, he noted that there was the need for an effective African payments system, as this will greatly impact the agreement.
“At Ecobank we have a pan-African payment system that works across 33 African countries and this will help in creating seamless trade transactions once the AfCFTA agreement is implemented.
“The Ecobank app is a unified app that caters to Africa’s diversity in language and currencies, this will further contribute to the advantages of the AfCFTA agreement,” Mr Akinwuntan stated.
What Another Panelist Said at the Event
Also speaking on the panel session was is Assistant Chief Trade Negotiator, AfCFTA/ECOWAS, from the Nigerian Office for Trade Negotiations (NOTN), Demitta Gyang Chinwude, who emphasized the need for everyone to understand the laws of the AfCFTA.
According to her, “the first things businesses need to know are the laws guiding the AfCFTA agreement, they need to know their rights and equip themselves adequately to operate within these laws. All businesses, must have an AfCFTA desk officer, who will act as a liaison officer and is equipped with the right information for your business.”
Ms Chinwude said the Nigerian Office for Trade Negotiations (NOTN,) is taking the lead by breaking down the laws of the AfCFTA into leaflets that will be easy to understand.
This Year’s NESG
The Nigerian Economic Summit Group (NESG), a public-private dialogue in Nigeria. This year’s summit which held on the 7th and 8th of October 2019 at the Transcorp Hilton Hotel in Abuja, had Ecobank as a major partner and the summit focused on three key pillars – economic growth, competitiveness, and inclusive development.
Since its inception, NESG has promoted its activities around six fundamental principles of the economy. It includes a commitment to a Free Market Economy, encouragement of Private Sector Investments, Creation of an Enabling Environment, Good Governance in the National Interest, Rule-Based Economy and the Establishment of Economic Foundation for Democracy.
Ecobank is a pan-African banking conglomerate, with banking operations in 36 African countries.
General
Tinubu Confirms Killing of Abu-Bilal Al-Manuki by Nigerian, US Forces
By Modupe Gbadeyanka
President Bola Tinubu on Saturday confirmed the killing of a senior ISIS leader, Mr Abu-Bilal Al-Manuki, in an overnight operation carried out by the United States and Nigeria.
President Donald Trump had earlier announced the elimination of the notorious terrorist via a post on his Truth Social.
Later, in a statement today, Mr Tinubu praised the action, describing it as “a significant example of effective collaboration in the fight against terrorism.”
“Our determined Nigerian Armed Forces, working closely with the Armed Forces of the United States, conducted a daring joint operation that dealt a heavy blow to the ranks of the Islamic State,” he said in the statement.
According to him, early assessments confirm the elimination of the wanted IS senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, along with several of his lieutenants, during a strike on his compound in the Lake Chad Basin.
He commended the partnership between Nigeria and America in waging war against terrorists, thanking his US counterpart “for his leadership and unwavering support in this effort.”
“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation,” the Nigerian leader added.
General
Nigeria Steps up AI Surveillance, Anti-Drone Systems for National Security
By Adedapo Adesanya
Nigeria is set to strengthen its defence architecture by deploying artificial intelligence-powered surveillance systems and advanced anti-drone technology as part of efforts to modernise the country’s military capabilities, according to the Minister of Defence, Mr Christopher Musa.
He disclosed this during a high-level visit to Monaco, where he led a Nigerian delegation to conclude discussions on the multi-domain Hybrid Intelligence Shield (HIS) project.
According to Mr Musa, the initiative is designed to enhance border security, protect urban centres and improve the country’s response to emerging security threats.
The project is expected to introduce AI-driven surveillance systems capable of identifying threats rapidly through smart algorithms, while anti-drone technology will be deployed to intercept and neutralise unmanned aerial threats.
The government also plans to establish national and regional command-and-control centres to improve real-time coordination and response to security incidents across the country.
Mr Musa said the initiative would place strong emphasis on technology transfer and local capacity development through the establishment of a military Centre of Excellence in Nigeria.
He added that the federal government would leverage partnerships with international firms, including Marss UK Ltd, while simultaneously building indigenous capabilities to address insurgency, illegal mining, piracy and other security threats.
Nigeria has continued to battle multiple security challenges in recent years, including insurgency in the North-East, banditry and kidnappings in the North-West, farmer-herder clashes in the North-Central region, crude oil theft in the Niger Delta and piracy in the Gulf of Guinea.
Nigeria is stepping up its defence as the border region of Nigeria, Benin and Niger on the southern edge of the Sahel region is becoming a new stronghold for jihadists, as militants turn forests and pastoral networks in West Africa into bases for recruitment and international attacks.
Attacks in Nigeria have also risen, with data from the website of the Armed Conflict Location & Event Data (ACLED), a conflict-monitoring group, affirming that the number of suicide bombings in Nigeria by March already matched the annual average over the past six years.
The Nigerian military has also been dealt a blow to its military bases and senior figures targeted. In April, Brigadier-General Oseni Omoh Braimah was killed when Islamist fighters attacked a base in Borno State.
To also meet the defence goal, Nigeria is stepping up efforts to build domestic arms-manufacturing capacity.
General
Nigeria, Morocco to Seal Atlantic Gas Pipeline Deal by Q4 2026
By Adedapo Adesanya
Nigeria and Morocco are set to sign a major intergovernmental agreement later this year to push forward the long-delayed Nigeria-Morocco Gas Pipeline project, a multi-billion-dollar energy corridor expected to reshape gas trade across West Africa and Europe.
The agreement, expected to be signed in the fourth quarter of 2026 by President Bola Tinubu and King Mohammed VI of Morocco, follows the completion of preliminary technical studies for the ambitious project, according to officials from both countries.
The pipeline, also known as the African Atlantic Gas Pipeline, is projected to stretch about 6,900 kilometres along offshore and onshore routes across West Africa, making it one of the largest gas infrastructure projects on the continent.
With an estimated cost of $25 billion, the pipeline is designed to transport up to 30 billion cubic metres of gas annually once completed.
Discussions on the project gained fresh momentum during a telephone conversation between Nigeria’s Minister of Foreign Affairs, Mr Bianca Odumegwu-Ojukwu, and her Moroccan counterpart, Mr Nasser Bourita.
The project would not only strengthen energy cooperation between the two countries but also improve regional economic integration and expand Africa’s access to European energy markets.
According to Morocco’s hydrocarbons and mining agency, ONHYM, part of the gas supply will support Morocco’s domestic energy demand, while large export volumes will be directed to Europe.
The project, first proposed about a decade ago, is seen as a strategic alternative gas supply route amid rising global energy security concerns and Europe’s search for more diversified energy sources.
Beyond the pipeline, Nigeria and Morocco are also exploring broader economic partnerships, particularly in fertiliser production and distribution to support food security across Africa.
Both countries also agreed on the need to revive the Nigeria-Morocco Business Council to strengthen trade and investment relations under the African Continental Free Trade Area framework.
Analysts noted that the project could significantly boost gas monetisation opportunities for Nigeria, expand regional infrastructure development, and deepen economic ties between West African nations and Europe if successfully executed.
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