Citibank has called on policymakers, regulators and company executives across West Africa to move faster in expanding regional commerce and realizing the promise of the African Continental Free Trade Area.

The appeal came after the lender hosted a business symposium on broadening trade along West Africa’s main corridors, drawing senior figures from the public and private sectors in Nigeria, Ghana and Côte d’Ivoire. Sessions concentrated on workable steps to reinforce trade routes, tackle implementation hurdles and open fresh channels for cross border commerce.

Central Bank of Nigeria Deputy Governor for Financial System Stability Lamido Yuguda told the gathering that efficient financial intermediation would be decisive as intra-African trade grew, pointing to stronger cross border payment systems, a better functioning foreign exchange market and wider access to trade finance as the levers for cutting transaction costs.

Minister of State for Industry John Owan Enoh said the trade area offered Nigeria a chance to broaden its industrial base and lift exports, and pressed African nations to shift from selling raw materials towards value added production. He singled out the Lagos to Abidjan corridor and the cocoa trade, arguing that moving from raw beans to branded chocolate would keep more value on the continent.

Representatives of Ghana and Côte d’Ivoire echoed the point, urging closer cooperation to dismantle non-tariff barriers, improve connectivity and align standards. Côte d’Ivoire’s ambassador to Nigeria, Kalilou Traoré, noted that weak infrastructure, fragmented rules and scarce financing continued to slow a project meant to knit together a market of more than 1.3 billion people, while Ghana’s Deputy High Commissioner, Gladys Mansa Yawa Feddy Akyea, said the real test would be whether the bloc could ease trade, mobilize finance and strengthen value chains.

Citibank Nigeria’s Managing Director, Nneka Enwereji, said Nigeria sat at the heart of the trade area’s success and pledged practical financial solutions to help clients expand regionally. The bank flagged customs red tape, inconsistent standards, limited currency convertibility and a persistent trade finance gap as the chief obstacles.

In a related engagement, Marine and Blue Economy Minister Adegboyega Oyetola told a visiting Citibank delegation that Nigeria was open for business and partnerships capable of unlocking its maritime potential. He cited the country’s 853 kilometer coastline, more than 10,000 kilometers of inland waterways and a 200 nautical mile exclusive economic zone, and pointed investors towards fisheries, where annual demand outstrips local output by roughly 1.83 million metric tons.