Governor of Enugu State, Peter Mbah and Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, have called for deliberate reforms to strengthen access to finance for small and medium-scale enterprises (SMEs) and maximise Nigeria’s benefits under the ECOWAS Trade Liberalisation Scheme (ETLS).
Speaking at a one-day sensitisation workshop themed “Increasing intra-regional trade through ETLS” held in Enugu, Mbah, represented by his deputy, Ifeanyi Ossai, described the scheme as a major opportunity to expand trade across the West African region.
He commended the Federal Ministry of Foreign Affairs and the ECOWAS National Unit for choosing Enugu as the venue, noting that the South-East, renowned for its strong trading culture and entrepreneurial spirit, stood to gain immensely from the initiative.
“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.
Meanwhile, the Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, in an address, emphasized the importance of regional integration and the need for Small and Medium Enterprises (SMEs) to take advantage of the ECOWAS Trade Liberalization Scheme (ETLS).
The workshop, which brought together stakeholders from the private sector, government, and civil society, was aimed to equip SMEs with the knowledge, skills, and networks to transcend local boundaries and tap into the wider West African market.
Bianca-Ojukwu commended the Enugu State Government for its leadership in fostering innovation and enterprise, saying that the state’s commitment to inclusive growth resonates deeply with the objectives of the ECOWAS scheme.
The Minister noted that SMEs are the engine room of the economy, generating employment, stimulating innovation, and driving inclusive prosperity. She emphasized that strengthening SMEs is not merely a local concern but a regional imperative, and that Enugu State is a model for how local dynamism can be aligned with continental ambitions.
Bianca-Ojukwu stated that the ETLS is not just a technical instrument but a strategic pillar of West Africa’s integration agenda. She noted that the scheme underpins the free movement of goods and services, complements the Protocol on Free Movement of Persons, and anticipates the broader framework of the AfCFTA.
The Minister emphasized that Nigeria, as the largest economy in the region, has a leadership role to play in the implementation of the ETLS. She urged participants to fully engage in the deliberations, ask questions, share their experiences, and seize the moment to build partnerships that will carry their businesses beyond Nigeria’s borders.
The workshop is part of a larger vision to create a West Africa where no region and no entrepreneur is left behind. Odumegwu-Ojukwu noted that the South-East region, with its centuries-old tradition of commerce and enterprise, is uniquely positioned to benefit from the ETLS.
The Minister assured 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 the people is the ultimate measure of foreign policy.
The workshop was attended by stakeholders from the private sector, government, and civil society, who shared their experiences and insights on how to harness the benefits of the ETLS. The Enugu State Government has shown commitment to fostering innovation and enterprise, and the state’s leadership in this area is a testament to its forward-looking approach to economic development.
As the workshop came to a close, participants were urged to take advantage of the ETLS and to work together to build a stronger, more integrated West African economy.
