By Peace Udugba -The daily torch media
The Nigerian Content Development and Monitoring Board (NCDMB) has identified key building blocks required for Nigeria and other African countries to achieve meaningful continental economic integration under the African Continental Free Trade Area (AfCFTA).
According to the Board, production-based economic integration remains the cornerstone of Africa’s long-term growth, competitiveness and industrial development. It stressed that AfCFTA should be viewed not merely as a trade agreement, but as a strategic platform for deepening industrial capacity across the continent through value addition, local manufacturing and expanded intra-African trade.
The NCDMB emphasised strict compliance with rules of origin and local content requirements, describing them as critical safeguards against dumping and unfair competition. Proper enforcement of these rules, the Board noted, will ensure that only goods genuinely produced within Africa benefit from AfCFTA tariff concessions, thereby stimulating local industries, promoting job creation and protecting indigenous enterprises.
Tariff concessions were also highlighted as a major incentive for cross-border trade. When effectively implemented, the Board explained, such concessions are expected to lower the cost of doing business, strengthen regional value chains and widen market access for African manufacturers and service providers.
Another key pillar identified is the Pan-African Payment and Settlement System (PAPSS), which is designed to simplify cross-border transactions and reduce dependence on foreign currencies. The NCDMB noted that an efficient continental payment system would enhance trade flows, cut transaction costs and significantly improve the ease of doing business across African markets.
The Board further identified funding as a critical enabler of AfCFTA’s success, stressing the need for accessible financing mechanisms to support production, infrastructure development and the expansion of local enterprises. Particular attention, it said, should be given to small and medium-sized businesses seeking to participate in continental trade.
Overall, the NCDMB maintained that achieving effective continental economic integration requires deliberate policies that promote local production, protect domestic industries and align national content frameworks with AfCFTA objectives. It concluded that with the right regulatory structures, financing and institutional support in place, AfCFTA holds the potential to transform Africa into a globally competitive economic bloc.
