Summary：**LCCI Calls for Stronger Africa Trade Ties to Drive Prosperity** *By [Your Name] – Business Corres

**LCCI Calls for Stronger Africa Trade Ties to Drive Prosperity**

*By [Your Name] – Business Correspondent*

**Introduction**
The Lagos Chamber of Commerce and Industry (LCCI) urged Nigerian and African policymakers to deepen intra‑continental trade links, arguing that stronger Africa‑wide commerce is essential for sustainable prosperity. Speaking at a recent summit in Abuja, LCCI President Dr. Michael Olawale‑Joel highlighted that current trade volumes among African nations remain below 15 % of total continental trade, a figure far short of the potential unlocked by the African Continental Free Trade Area (AfCFTA).

**Key Developments**
During the forum, LCCI presented a three‑point action plan:

1. **Infrastructure Investment** – Prioritise upgrades to transport corridors, ports, and digital networks to reduce logistics costs, which currently add up to 30 % of product prices in many West African routes.
2. **Harmonised Regulations** – Advocate for uniform customs procedures, standards, and certification processes across member states to eliminate non‑tariff barriers that hinder small and medium enterprises (SMEs).
3. **Financing Mechanisms** – Create a dedicated Africa Trade Finance Facility, leveraging development bank capital and private‑sector risk‑sharing instruments to support exporters facing currency volatility and limited access to credit.

The chamber also announced a partnership with the African Export‑Import Bank (Afreximbank) to pilot a trade‑credit guarantee scheme targeting Nigerian agribusinesses looking to expand into East African markets.

**Industry Analysis**
Analysts note that Africa’s combined GDP exceeds $3 trillion, yet intra‑African trade accounts for only about 2 % of global trade flows. The AfCFTA, which aims to create a single market of 1.3 billion people, could boost continental income by $450 billion by 2035 if implementation barriers are removed. LCCI’s focus on infrastructure aligns with World Bank estimates that every $1 billion invested in transport yields $4 billion in trade gains. Moreover, harmonised regulations could cut clearance times at borders from an average of 48 hours to under 12 hours, directly benefiting perishable goods exporters such as horticulture and fisheries.

**Future Outlook**
Looking ahead, LCCI projects that if the proposed measures are adopted