The Nigerian government has officially signed, ratified and submitted its ECOWAS Tariff Offer to the African Continental Free Trade Area (AfCFTA), establishing zero import duties of 90% within Africa.

The critical step by Nigeria was announced at the AfCFTA Council of Ministers meeting in Kinshasa, Congo, reflecting the country’s interest in intra-African trade integration.

FG signs AfCFTA to boost trade

President Bola Tinubu endorsed the ECOWAS Schedule on tariff offers for Nigeria, which shows Nigeria’s plan to lead the continent’s trade future.

The Nigerian government disclosed that the move boosts the country’s role in shaping the future of African trade and unlocking new opportunities for businesses.

BusinessDay reports that the Minister of Industry, Trade and Investment, Jumoke Oduwole, described the submission as a show of confidence in Nigeria’s entrepreneurial capacity.

FG outlines benefits of deal for Nigerians

The minister said in a post on X that the country has been reflecting on the journey to signing the essential agreement.

According to her, the government is actively supporting partnerships with Nigerian businesses to grow regional supply.

She welcomed other businesses and entrepreneurs into one market, stating that Nigeria looks forward to receiving products from other African countries.

The trade minister commended the resilience of local entrepreneurs, saying their spirits, adventurous quest, hard work and tenacity would ensure the AfCFTA’s success.

The AfCFTA is regarded as the world’s largest free trade zone, connecting 54 African countries to one market of 1.4 billion people, with a combined GDP of $3.4 trillion, opening new possibilities for Nigeria.

Deal presents opportunity for Nigerians

Oduwole said the deal presents an opportunity for entrepreneurs to export their goods outside the country and earn FX, expand businesses for SMEs, women-owned businesses, and for youth-led enterprises to trade with other Africans.

She highlighted Nigeria’s growing leadership in digital trade and services, stating that the country continues to lead the world in digital trade framework, harnessing and keeping value within the continent to ensure prosperity for Africans.

Experts say the development will give fresh impetus to Nigeria’s exporters amid currency instability and rising demand for FX.

They say by eliminating tariffs on the bulk of goods traded on the continent’s borders, Nigeria stands to benefit, tap into wider markets and drive the industrial revolution.

As AfCFTA implementation gains traction, officials are optimistic about shared prosperity on the continent. “It’s a partnership,” Oduwole said.

FG establishes duty-free window The development came several months after the Nigerian government established a 150-day import duty-free window for essential food items.

Analysts have said the policy helped to crash food prices, especially staples like rice, which fell by N20,000 per 50kg bag.

Before the current inflation rate, the National Bureau of Statistics (NBS) reported a drop in food inflation in its rebased inflation data for February 2025.