Nigeria's Trade Minister Advocates for Equity at WTO Conference in Cameroon
During the recently concluded World Trade Organisation (WTO) Ministerial Conference 14 (MC14) held in Yaoundé, Cameroon, Nigeria's Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, delivered a compelling call for fairness, development, and a level playing field in the global trading system. In a session focused on the future of multilateral trade, she emphasized the urgent need for the WTO to create a framework that is both inclusive and equitable, addressing critical issues that impact economic transformation worldwide.
Addressing Africa's Marginal Position in Global Trade
Dr. Oduwole highlighted the stark realities facing Africa in the international trading arena. She pointed out that Africa's share of global trade in goods and services stands at a mere two percent each, with digital services—the fastest-growing segment—accounting for less than one percent. Intra-African trade in goods was recorded at only 16 percent in 2024, underscoring the continent's low productivity levels. To strengthen Africa's negotiating position within the WTO, she stressed the necessity of significantly increasing trade volumes and enhancing the value of trade through strategic initiatives.
Industrialization and Digitalization as Key Drivers
The minister identified industrialization as a second critical point, noting that Nigeria and other African nations have long sought policy space for industrial development and technology transfer. She urged a rapid recalibration of interests and ambitions at the WTO, particularly in the context of artificial intelligence adoption and broader digitalization. Dr. Oduwole referenced economic success stories from the past three decades, which consistently show that trade in services and digitalization are pivotal drivers of both domestic economic transformation and international trade expansion.
Learning from the African Continental Free Trade Area (AfCFTA)
Drawing inspiration from continental efforts, Dr. Oduwole cited the AfCFTA as a benchmark for managing diverse interests in trade agreements. She explained that the Most Favoured Nation principle is balanced by reciprocity to prevent free-riding, as demonstrated by Nigeria's experience: the country only benefited from reduced tariffs in other AfCFTA State Parties after gazetting its own tariff concessions. Additionally, the AfCFTA Protocol on Trade in Services aims to remove regulatory barriers, addressing past limitations from the General Agreement on Trade in Services (GATS) by introducing fair and predictable continental frameworks, including efforts for mutual recognition of qualifications and certifications.
Special and Differential Treatment for Development
On the topic of special and differential treatment, Dr. Oduwole praised the AfCFTA's pragmatic approach, which accounts for varying developmental stages among member states. While AfCFTA State Parties commit to removing 97 percent of tariff lines, least developed countries are granted longer periods for tariff reductions. She called for reflection on both domestic strategies and multilateral postures, reaffirming Nigeria's commitment to advocating for WTO rules that reflect the aspirations and requirements of all members, regardless of their development levels.
WTO Director-General Acknowledges Global Challenges
At the opening session, WTO Director-General Dr. Ngozi Okonjo-Iweala acknowledged the difficult moment facing world commerce and the multilateral trading system. She stated that the world trading system is experiencing the worst disruptions in 80 years, with the traditional world order and multilateral system having irrevocably changed. This context underscores the urgency of Dr. Oduwole's calls for reform and fairness in global trade practices.
