ACCI: Catalyzing Local Business Growth and Pan-African Trade in the Era of AfCFTA
As Nigeria positions itself at the forefront of Africa’s economic integration, the Abuja Chamber of Commerce and Industry (ACCI) has emerged as a pivotal institution empowering local businesses and fostering continental trade cooperation. Under the renewed vigor of President Bola Tinubu’s administration, ACCI is not only championing Nigeria’s economic resurgence but also actively facilitating the country’s strategic engagement with the African Continental Free Trade Area (AfCFTA).
Empowering Local Businesses for AfCFTA Opportunities
Since the AfCFTA agreement came into force on January 1, ACCI has been proactive in preparing Nigeria’s organized private sector to harness the vast opportunities presented by the largest free trade area in the world. The Chamber has embarked on capacity-building initiatives targeting Small and Medium Enterprises (SMEs), equipping them with the skills and knowledge to participate competitively in intra-African trade.
A flagship platform for this engagement is the Abuja International Trade Fair, now in its 19th edition, which ACCI organizes annually. The event attracts hundreds of local and international exhibitors and serves as a dynamic marketplace and knowledge hub. The 2024 fair, themed “Mobility Options for Transportation, Trade Financing, and Taxation,” underscores ACCI’s strategic focus on reducing logistical bottlenecks and improving trade facilitation—key challenges for African businesses seeking to expand across borders.
Moreover, ACCI has forged critical partnerships to deepen trade cooperation beyond Nigeria’s borders. A notable achievement is the Memorandum of Understanding signed with the East African Business Council (EABC), designed to promote trade relations, harmonize policies, and facilitate information exchange between West and East African business communities. This collaboration is expected to maximize AfCFTA benefits by fostering cross-regional commerce and industrial growth.
Major Achievements Under the Renewed Hope Agenda
The current administration of President Bola Tinubu, branded the “Renewed Hope” agenda, has found a strong ally in ACCI. The Chamber has applauded the Federal Government’s Economic Stabilisation Plan for creating a conducive environment that has attracted significant foreign direct investment, exemplified by Coca-Cola’s commitment to a $1 billion expansion in Nigeria’s manufacturing sector.
In alignment with national economic priorities, ACCI recently entered a landmark 10-year partnership with the Made-in-Nigeria Project Office under the Office of the Secretary to the Government of the Federation. This collaboration aims to boost domestic production, promote locally made products, and enhance Nigeria’s industrial competitiveness—key pillars of the administration’s vision for sustainable economic growth.
ACCI’s internal structure, comprising specialized centers such as the Dispute Resolution Centre, Policy Advocacy Centre, Abuja Trade Centre, and Business Entrepreneurship Skills and Technology Centre, enables it to implement comprehensive support programs. These range from policy advocacy and trade facilitation to entrepreneurship development and dispute resolution, creating an ecosystem where Nigerian businesses can thrive both locally and across Africa.
Driving Nigeria’s Continental Trade Leadership
With intra-African trade currently below 20%, ACCI’s efforts to galvanize Nigerian businesses to fully leverage AfCFTA are critical. The Chamber’s leadership has consistently called on government agencies to streamline export procedures, such as enforcing single-desk clearance for exporters, to enhance Nigeria’s competitiveness as Africa’s largest economy.
Furthermore, ACCI’s advocacy for establishing chambers of commerce that bridge African and global markets, like the proposed Qatari-African Chamber of Commerce, reflects its forward-looking approach to expanding trade networks and industrial collaboration.
The Abuja Chamber of Commerce and Industry stands at the nexus of Nigeria’s local business empowerment and Africa-wide trade integration. Through strategic capacity building, international partnerships, and alignment with President Tinubu’s Renewed Hope agenda, ACCI is not only facilitating Nigerian SMEs’ participation in AfCFTA but also contributing significantly to the country’s economic revitalization. As Nigeria continues to harness the promise of continental free trade, ACCI’s role as a catalyst for sustainable growth and regional commerce remains indispensable.