Nigeria has officially signed and submitted the Economic Community of West African States offer to establish zero duties on 90% of goods traded within Africa. The Minister of Industries, Trade and Investments, Dr Jumoke Oduwole, disclosed this on her X social media platform handle.
The move comes just ahead of the 16th meeting of the AfCFTA Council of Ministers (COM), held in Kinshasa, Democratic Republic of Congo. This development marks a significant milestone in advancing regional trade integration, especially against the backdrop of global trade tensions initiated by the U.S. President Donald Trump
The Nigerian Trade Minister that “the gazetting and transmission of the ECOWAS Schedule of Tariffs to the AfCFTA Secretariat signals Nigeria’s readiness for trade under the Agreement. This milestone enables Nigerian exporters to leverage preferential tariff access across African markets, positioning Nigeria as a key player in regional and global trade.”
Speaking on the sidelines of the Conference of African Trade Ministers in Kinshasa, Democratic Republic of Congo, Oduwole said, “As Nigeria commences its implementation review of five years of the AFCFTA, we have been reflective of the journey so far. What is clear is that Nigerian entrepreneurs are ready to take on the challenge to move across borders. We celebrate that feat and support them as a government with everything needed, including the tariff gazetting for our AFCFTA schedules.”
The Minister highlighted the AfCFTA as a vital opportunity for hardworking Nigerian entrepreneurs to export their goods and earn much-needed foreign exchange. She noted the agreement offers a pathway for business expansion while providing a platform for women-led and youth-led businesses, enabling them to trade with other Africans across the continent. She highlighted the 1.4 billion market and $3.4 trillion regional economy as the largest free zone in the world, the African Continental Free Trade Area.
Nigeria’s Trade Minister also reaffirmed the country’s commitment to taking lead in the digital trade framework. She stated that Nigeria will remain competitive in trading services and goods while describing the AfCFTA as a partnership designed to deliver shared benefit across the continent.
Nigeria is now the 23rd AfCFTA State Party to gazette its Provisional Schedule of Tariff Concessions, PSTCs.This move will provide clarity and certainty, confirming that Nigeria will offer preferential tariff treatment to eligible goods imported into the country, in line with its commitments under the AfCFTA Agreement.
