West African nations collectively spend over $3 billion annually importing meat from distant suppliers like Australia, despite possessing abundant regional livestock resources.
This disconnect has reignited discussions about strengthening regional trade integration under the African Continental Free Trade Area (AfCFTA) framework.
Ms. Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, highlighted this issue during a keynote address in Lagos on Monday, criticising persistent import dependence as a legacy of colonial-era trade patterns.
“Historically, Africa’s trade patterns were hardwired to look outward—for machinery from Europe, textiles from Asia, and food from the Americas—while ignoring the gold in its own backyard,” she stated.
“West Africa spends $3 billion annually importing meat from Australia, while Botswana, Namibia, and Mali have surplus livestock. A Ghanaian shoemaker looks to Argentina for leather, while Nigeria, Ethiopia, and Burundi overflow with hides. A Senegalese supermarket stocks dairy from Europe, while East Africa leads in milk production,” she added.
Awani advocated for building resilient regional value chains that prioritise African solutions and producers. “We must urgently turn inward, deepen our integration, and build regional value chains. Intra-African trade is no longer just a diplomatic aspiration—it is an imperative for survival, recovery, and long-term prosperity.”
The Intra-African Trade Fair has facilitated over $100 billion in trade and investment deals since its inception, with Nigerian businesses securing more than $11 billion during the 2023 edition.
NEPC Executive Director Nonye Ayeni noted that intra-African trade comprises less than 15% of the continent’s total trade, significantly below European and Asian levels. “We have the land, resources, and brilliant people. What we need now are the three Cs—collaboration, commitment, and coordination,” Ayeni said.
Recent progress includes a 24.7% growth in Nigerian non-oil exports during Q1 2024 and agricultural product exports to 126 countries. The NEPC has identified 20 priority products and five target markets under its AfCFTA strategy.
Separately, Afreximbank revealed that African countries lose approximately $7 billion annually to medical tourism, with Nigeria accounting for $1.1 billion of this outflow, according to Export Development Managing Director Mrs. Oluranti Doherty.
