Tinubu’s trade drive cuts export costs by 75%, unlocks new air cargo route to East, Southern Africa
BY MOTOLANI OSENI
In a bold step to deepen intra-African trade, the Federal Government has slashed Nigeria’s air cargo export costs by up to 75 per cent through a new partnership with Uganda Airlines, opening a direct air cargo corridor to East and Southern Africa.
The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, MFR, announced the development during an interview on MoneyLine with Nancy on African Independent Television (AIT), describing it as a practical fulfilment of President Bola Tinubu’s campaign promise to drive regional trade under the African Continental Free Trade Area (AfCFTA).
Dr. Oduwole revealed that exporters who previously paid \$1,000 per shipment now pay as low as \$260—a result of a negotiated flat rate with Uganda Airlines, a government-owned carrier.
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“This is a clear win for Nigerian exporters and a signal that Tinubu’s administration is focused on making intra-African trade a real engine of growth,” she said.
To complement the air corridor, she unveiled a new market intelligence tool co-developed with the United Nations Development Programme (UNDP), which maps out demand for Nigerian goods across East and Southern Africa. The tool aims to equip the private sector with actionable data to expand their regional reach.
The Minister challenged other African carriers, including Air Peace, Africa World Airlines, and Ethiopian Airlines, to join the growing regional logistics push. “Uganda Airlines has taken the first-mover advantage. We’re calling on others to rise to the challenge—this is how Africa will trade with itself,” she stated.
Dr. Oduwole also spoke on Nigeria’s improving investment climate, crediting the foreign exchange reforms, macroeconomic stability, and recent legislation—including the Investment and Securities Act and the Tax Reforms Bill—for restoring investor confidence.
“We are seeing a reversal of the earlier trend of corporate exits. Investors are coming in—existing multinationals are expanding, and new ones are entering,” she said, adding that shareholder transitions have often been mistaken for full corporate withdrawals.
She disclosed that President Tinubu had secured \$50.8 billion in investment pledges as of December 2024, which are being actively tracked by the Nigerian Investment Promotion Commission (NIPC).
The Nigeria–East/Southern Africa air cargo corridor, developed in collaboration with Uganda Airlines, UNDP, and the Organised Private Sector (OPS), marks a strategic breakthrough in overcoming long-standing logistical barriers for Nigerian exporters. According to the UNDP, the initiative serves as a replicable model for reimagining trade logistics across the continent under AfCFTA.
