FG seek investments in ports, digital platforms to aid cross-border businesses across West Africa

FG seek investments in ports, digital platforms to aid cross-border businesses across West Africa 

The Federal Government of Nigeria is seeking investments in ports and digital platforms to facilitate cross-border businesses across West Africa. 

By Rhalialt Arhuoizah 

This initiative aims to :
– Enhance Trade Efficiency: Streamline trade processes, reducing costs and bureaucracy for businesses operating across borders.
– Promote Economic Integration: Foster regional economic cooperation and development through improved infrastructure and digital solutions.

Key Areas of Focus:

– Port Infrastructure: Upgrade ports to support efficient cargo handling and logistics.
– Digital Platforms: Implement digital solutions for seamless trade, including payment systems and logistics management.
– Regulatory Frameworks: Harmonize regulations and standards to facilitate smooth trade across borders.

Benefits:

– Increased Trade Volume: Simplified processes and reduced costs can lead to increased trade among West African countries.
– Improved Competitiveness: Enhanced infrastructure and digital capabilities can make West African businesses more competitive globally.
– Economic Growth: By promoting trade and investment, this initiative can contribute to economic growth and development in the region.

Implementation:

The Federal Government is working with stakeholders, including the private sector, to implement these initiatives. The West Africa Economic Summit (WAES) 2025, held in Abuja, provided a platform for discussions on these issues, bringing together leaders from government, business, and development institutions .