The Federal Government has formally published and transmitted the ECOWAS Schedule of Tariff Offers for Trade in Goods under the African Continental Free Trade Area to the AfCFTA Secretariat.
This major step, disclosed in a statement by the Minister of Industry, Trade, and Investment, Jumoke Oduwole on Tuesday, precedes the 16th meeting of the AfCFTA Council of Ministers responsible for trade, currently taking place in Kinshasa, Democratic Republic of Congo.
Oduwole described the move as a significant milestone in regional trade integration, stating that the agreement paves the way for “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,” she said.
According to the Minister, President Bola Tinubu signed the ECOWAS Schedule of Tariff Offers, reinforcing Nigeria’s commitment to advancing regional trade.
“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,” she added.
She further explained that the implementation of Nigeria’s ECOWAS tariff offer through the gazetted concessions “is expected to yield significant benefits,” including “boosting economic growth and job creation by reducing trade barriers, strengthening regional integration and trade relations through enhanced economic ties.”
Oduwole noted that Nigerian Small and Medium Enterprises would particularly benefit from reduced costs and the ability to scale across borders.
“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,” she stated.
She also called for “stronger engagement from African Trade Ministers 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,” she said.
Emphasising Nigeria’s preparedness, the Minister added: “Nigeria is open for business. The gazetting and transmission of the ECOWAS schedule of tariffs to the AfCFTA Secretariat signals Nigeria’s readiness for trade under the agreement.”
According to her, the milestone “will enable Nigerian exporters to leverage preferential tariff access across African markets, positioning Nigeria as a key player in regional and global trade” while also underscoring “Nigeria’s dedication to leveraging Africa’s single market for economic transformation.”
Oduwole noted that “after initiating its first shipment under AfCFTA in July 2024, Nigeria has solidified its leadership in regional trade and integration with the formal gazetting of the schedule of tariffs for trade in goods.”
“This is to ensure that Nigerian goods can access other markets competitively and profitably,” she said.
“This reciprocal trade arrangement aligns with the directive of the 35th Ordinary Session of the Assembly of Heads of State and Government of the African Union in February 2022. As a result, other AfCFTA State Parties can now accept consignments from Nigeria under the Agreement.”
She explained that under its preferred classification, Nigeria’s tariff reductions for trade in goods would follow a phased approach over ten years beginning in 2021.
“By 2025, the fifth year of AfCFTA implementation, a 50 per cent tariff reduction on NGN, implemented at a rate of 10 per cent per year, should immediately affect goods in trade with least developed countries in Africa.
“For trade with developing countries on the continent, Nigeria retains the flexibility of complete tariff elimination (0 per cent) effectively immediately under AfCFTA, applying a 20 per cent reduction annually,” she stated.
The Minister also referenced the AfCFTA digital trade agenda: “The gazetting announcement follows the AfCFTA digital trade mandate announced in February in Addis Ababa.”
“The President, however, received a commendation for his work on digital trade, further reinforcing the country’s commitment to regional and continental trade integration.
“As a digital trade co-champion, Nigeria is advancing seamless trade facilitation and cross-border commerce, ensuring businesses, especially SMEs, can fully benefit from AfCFTA’s framework,” she added.