Abuja, April 15, 2025- Nigeria has officially signed and gazetted the ECOWAS Tariff Offers for Trade in Goods under the African Continental Free Trade Area (AfCFTA).
Dr Jumoke Oduwole, the Minister of Industry, Trade and Investment, disclosed this in a statement on Tuesday.
Oduwole said that the move was ahead of the 16th meeting of the AfCFTA Council of Ministers (COM) responsible for trade taking place on Tuesday in Kinshasa, DRC .
She described the step as a significant milestone in regional trade integration, explaining that the agreement establishes zero duties on 90 per cent of tariff lines for trade in goods, enhancing Nigeria’s market competitiveness and expanding trade opportunities across Africa.
“Nigerian goods are now competitively positioned in the African market, ensuring greater business access and profitability.
“This step under the AfCFTA framework strengthens Nigeria’s role in shaping the future of intra-African trade and boosting export
competitiveness.
“Furthermore, it enables the seamless shipment of goods to and from Nigeria, unlocking new opportunities for businesses, manufacturers, and exporters.
“Implications of Nigeria’s ECOWAS Tariff offer the gazetting of the schedule of tariff concessions is expected to yield significant benefits.
“Furthermore, Nigeria’s commitment to AfCFTA implementation makes it an attractive destination for foreign and intra-African investment, reinforcing its role as a trade hub in West Africa.
“However, stronger engagement is required from African Trade Minsters to address other types of barriers, including non-tariff barriers that could hinder market access.
“Additionally, improving productive capacity and ensuring compliance with international standards remain imperative to maximise the benefits of the AfCFTA.
“The gazetting and transmission of the ECOWAS schedule of tariffs to the AfCFTA Secretariat signals Nigeria’s readiness for trade under the agreement,” she said.
