Nigeria has officially signed and transmitted the ECOWAS Schedule of Tariff Offers for Trade in Goods under the African Continental Free Trade Area (AfCFTA), a move that is set to bolster regional trade and enhance the country’s economic integration within Africa.
This announcement, made ahead of the 16th Council of Ministers Meeting on Trade scheduled for April 15, 2025, in Kinshasa, Democratic Republic of Congo, marks a significant milestone for Nigeria’s participation in the AfCFTA framework.
The gazetted ECOWAS Schedule, which sets the foundation for zero duties on 90% of tariff lines under AfCFTA, effectively opens up African markets to Nigerian goods. The implementation of this tariff reduction is poised to make Nigerian exports more competitive and accessible across the continent.
In a statement, President Bola Ahmed Tinubu endorsed the decision, signaling Nigeria’s readiness to trade under AfCFTA’s preferential regime. The move is expected to foster export-led growth, improve Nigeria’s trade balance, and attract intra-African investment, positioning the country as a key player in the region’s economic integration.
Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, highlighted the significance of the milestone, noting that it enables Nigerian exporters to access preferential tariffs across African markets. “This signals Nigeria’s readiness for trade under the AfCFTA Agreement,” she said. “It positions Nigeria as a major player in both regional and global trade.”
This formal gazetting builds on Nigeria’s earlier shipment of goods under the AfCFTA framework in July 2024. The country is now expected to accelerate its participation in the agreement, creating new opportunities for Nigerian businesses, manufacturers, and exporters.
The gazetting of the ECOWAS Tariff Schedule is expected to drive significant economic growth in Nigeria. Key benefits include:
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Trade Expansion: The reduction of tariffs on 90% of goods will enhance Nigeria’s ability to access African markets more competitively, boosting export volumes.
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SME Growth: Small and medium-sized enterprises (SMEs) will benefit from reduced trade barriers, allowing them to scale operations regionally and engage in cross-border trade more easily.
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Job Creation and Investment: Increased exports are expected to drive job creation and attract both intra-African and foreign direct investment, further strengthening Nigeria’s economy.
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Regional Integration: By aligning with the AfCFTA framework, Nigeria is strengthening its trade ties within ECOWAS and the broader AfCFTA region, enhancing its influence in shaping African economic policies.
As part of Nigeria’s phased approach to tariff reductions, the country is expected to achieve a 50% tariff reduction on goods in trade with the least developed countries in Africa by 2025, with a gradual reduction over the next few years. For trade with developing countries, Nigeria has committed to immediate tariff elimination on 20% of goods, in line with the AfCFTA’s objectives.
This strategy supports the African Union’s directive from the 35th Ordinary Session of Heads of State and Government, which encourages member states to accept consignments from Nigeria under AfCFTA.
In addition to its progress on traditional trade, Nigeria has been at the forefront of advancing digital trade within the AfCFTA framework. As a co-Champion of Digital Trade, Nigeria is working to streamline cross-border e-commerce and digital payments, making the AfCFTA more accessible to tech-enabled businesses and SMEs.
With these developments, Nigeria continues to play a leading role in the continent’s trade integration efforts, advancing both regional economic growth and global competitiveness.
