ECOWAS regional trade: Mbah, Odumegwu-Ojukwu champion reforms to boost SMEs, cooperation

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Stakeholders from the South-East convened in Enugu on Tuesday to deliberate on strategies for harnessing Nigeria’s full potential under the ECOWAS Trade Liberalisation Scheme (ETLS).

The discussion was led by Enugu State Governor, Peter Mbah, and the Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu.

Both leaders emphasized the need for intentional policy reforms to enhance access to funding for small and medium-sized enterprises (SMEs) and to fully optimise Nigeria’s advantages within the ECOWAS Trade Liberalisation Scheme.

During the one-day sensitisation workshop themed “Increasing intra-regional trade through ETLS”, held at the International Conference Centre (ICC) in Enugu, Governor Mbah, represented by his deputy, Ifeanyi Ossai, highlighted the scheme as a crucial platform for expanding trade opportunities across the West African subregion.

He praised the Federal Ministry of Foreign Affairs and the ECOWAS National Unit for selecting Enugu as the host city, noting that the South-East, known for its vibrant commercial culture and entrepreneurial excellence, stands to benefit significantly from the programme.

“You know we’re traders, and when you talk about SMEs in Nigeria, you can’t discount the Southeast because that’s what we’re known for. The ETLS presents an opportunity to expand trade not just for us but for other countries within our region,” Ossai said.

However, he cautioned that while regional integration offers immense opportunities, lessons from past industrial decline must not be ignored.

“There are critics who view globalisation as suffocating local production. They’re not entirely wrong. We once had Peugeot in Kaduna, Michelin in Port Harcourt and Lagos, and Aba was known for some of the best shoes. Sadly, all those have disappeared,” he said.

Ossai urged the Federal Government to develop policies that protect local manufacturers while implementing regional and global trade agreements.

He also advocated decentralising approval powers in development finance institutions such as the Bank of Industry, Bank of Agriculture, and NEXIM Bank, to enable quicker access to funding for entrepreneurs.

“For an SME trader in Ogbete Market or Coal Camp seeking finance, applications shouldn’t have to wait for approval from Abuja. Government must restructure policies to empower regional offices to approve facilities for viable businesses. Development finance should be based on business potential, not collateral,” he said.

The Deputy Governor further proposed the establishment of an ECOWAS Commercial Bank to finance regional infrastructure and SMEs.

“Manufacturing and production cannot thrive without robust infrastructure. ECOWAS must begin to tinker with a commercial bank that finances governments and supports SMEs,” he added.

In her remarks, Ambassador Bianca Odumegwu-Ojukwu described the workshop as a vital step towards deepening regional integration and empowering small businesses to benefit from West Africa’s expanding market.

“The ETLS is not just a technical instrument but a strategic pillar of West Africa’s integration agenda. It underpins free movement of goods and services and complements the African Continental Free Trade Area (AfCFTA),” she said.

Odumegwu-Ojukwu stressed that Nigeria’s leadership in regional trade must translate into real opportunities for local entrepreneurs.

“Success lies not in Abuja or Lagos, but in how effectively our traders, manufacturers, and innovators can compete regionally. This workshop is about democratising opportunity,” she said.

She praised the Enugu State Government for its dedication to fostering innovation and entrepreneurship, referring to the state as “a model for how local dynamism can align with continental ambitions.”

In his remarks, the Director-General of the Southeast Chamber of Commerce, Industry, Mines and Agriculture (SECCIMA), Dr. Daniel Ochi, who stood in for the Chamber’s President, Mr. Humphrey Ngonadi, assured that the Chamber would continue to support and promote the implementation of the scheme throughout the South-East region.

“This is a historic event, and we appreciate the opportunity. We’ll escalate this sensitisation to all 17 chambers across the Southeast to ensure our members understand and key into the benefits of the ETLS,” Ochi said.

The workshop, organised by the ECOWAS National Unit of the Ministry of Foreign Affairs, brought together government officials, SME operators, trade experts, and business leaders from across the region to explore strategies for expanding intra-regional trade and supporting local enterprises.

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