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ECOWAS Trade Liberation Scheme Will Deepen Regional Integration –Minister Posted by Ignatius Okpara Featured, Latest Headlines, News Across Nigeria, News Around Africa Tuesday, October 28th, 2025 (AFRICAN EXAMINER) – Nigeria has declared that the Economic of West Africa states ECOWAS trade liberation scheme (ETLS), would help in deepening regional integration, expand cross-border trade, and empower the nation’s Small and Medium Enterprises (SMEs), to enable them to take their rightful place in the continental vast market. Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu Ojukwu, stated this on Tuesday in Enugu in her welcome remark at a one day South East workshop on the modalities for participation in the ETLS organized by the Ministry of Foreign Affairs in partnership with Enugu state government. She said the workshop was timely, stressing that SMEs were the bedrock of business growth in any nation and should be assisted to thrive. “This initiative is timely, as it speaks directly to the urgent task before us, which is to deepen regional integration, expand cross-border trade, and empower our Small and Medium Enterprises (SMEs), to enable them to take their rightful place in the vast West African market,” she stated. According to the Minister, “SMEs remain the engine room of our economy, they generate employment, stimulate innovation, and drive inclusive prosperity. “Strengthening them is not merely a local concern but a regional imperative, and Enugu stands today as a model for how we can align local dynamism with continental ambitions. “The ECOWAS Trade Liberalization Scheme is not just a technical instrument, it is a strategic pillar of West Africa’s integration agenda. “As the oldest operational trade policy of ECOWAS, it underpins the free movement of goods and services, complements the Protocol on Free Movement of Persons, and anticipates the broader framework of the African Continental Free Trade Area (AfCFTA). “In essence, ETLS is both a gateway and a test case for Africa’s economic renaissance. “For Nigeria, as the largest economy in the region, leadership in this process is not optional, it is expected. “Yet, the true measure of success lies not in Abuja or Lagos alone, but in how effectively local entrepreneurs, our traders, manufacturers, and innovators, are enabled to compete and thrive regionally. “This workshop, therefore, is about democratizing opportunity, equipping SMEs with the knowledge, skills, and networks to transcend local boundaries and embrace the wider West African market,” she explained. “What we do here today is part of a larger vision. We want to see a West Africa where no region and no entrepreneur is left behind. “The South-East, with its centuries-old tradition of commerce and enterprise, is uniquely positioned to benefit from this. “By tapping into ETLS, our SMEs can transform local brilliance into regional competitiveness, and in turn, national strength,” The Minister added that, “the Ministry of Foreign Affairs, working with ECOWAS and relevant national agencies, will continue to prioritize economic diplomacy and trade facilitation, because the prosperity of our people is the ultimate measure of foreign policy.” Declaring the workshop with the theme: “Increasingly Intra Regional Trade Through ETLS” open, Enugu state Governor, Peter Mbah urged the Federal Ministry of Foreign Affairs, FMFA, and financial institutions to protect local industries to thrive and be positioned to compete with other ECOWAS subregions. He expressed worry that many small scale industries are not growing because they find it extremely difficult to get financial assistance since financial institutions such as NEXIM, Bank of Industries and Bank of Agriculture, demand collateral before availing them loan facilities. Represented by his deputy, Barr. Ifeanyi Ossai, the governor, applauded the Ministry of Foreign Affairs for the choice of Enugu for the event. He noted that for there to be a trade liberalization, barriers that impede trade expansion has to be removed such as high interest on loan and collateral before credit facility is granted. He regretted that in the time past, companies were doing well, trade was blossoming as Peugeot was producing in Kaduna, shoes were made in Aba and ANANMCO and other companies were thriving but now all seem to have nosedived. Mbah noted that manufacturing industries cannot compete favourably among the ECOWAS subregion unless they begin to enjoy steady power supply and obtain financial assistance without high premium on collateral. He decried a situation where local entrepreneurs seeking financial assistance have to get approval from Abuja before regional financial institutions can render financial assistance. “I want to thank the Federal Ministry of Foreign Affairs for deeming it essential to embark on this workshop and for choosing Enugu for this sensitisation workshop. “We know that we are traders and if you talk about SMEs in Nigeria and the subregion, that is the South East Region, that is what we are known for, that is what we are trying to do with the best of our abilities. So, I want to thank you for this initiative. The ETLS will suggest an attempt to regionally expand opportunities for trade, for us and for other countries in our region. We should set up a framework to assist local industries. We need to protect local manufacturing,” The governor opined that banks should be compelled to start assisting businesses in the South East to grow. “We ought to compel our banks to start assisting businesses in the South East. We must work to restructure so that we can compete with other ECOWAS countries.” In his speech, president, Enugu Chamber of Commerce, Industry, Mines and Agriculture, Mr.Odega Jideonwo, said the workshop is a step in the right direction. “It is a step in the right direction. There are many goods produced in our place but they don’t get from other African countries,” he said and wished that things would improve. Short URL: https://www.africanexaminer.com/?p=104733
