NIGERIA has officially endorsed a major trade policy shift by signing the ECOWAS schedule of tariff offers, committing to eliminate duties on 90 percent of goods traded within Africa. The agreement falls under the African Continental Free Trade Area (AfCFTA) and aims to open up vast new opportunities for Nigerian exporters.
The Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, announced the development in a statement on Tuesday, describing it as a transformative step in advancing Nigeria’s regional trade strategy.
The move, she said, enhances Nigeria’s market competitiveness across the continent, signalling the country’s full commitment to boosting intra-African trade and deepening economic integration through the ECOWAS bloc.
90% of goods now tariff-free across Africa
With the signing of the tariff schedule by President Bola Tinubu, Nigeria joins other West African states in implementing AfCFTA commitments. The zero-duty regime applies to 90 percent of tariff lines, making Nigerian goods more affordable and accessible in African markets.
‘Nigerian goods are now competitively positioned in the African market, ensuring greater business access and profitability,’ said Oduwole. She emphasised that the policy shift would enable exporters to take advantage of preferential market access under AfCFTA, paving the way for increased export revenue and cross-border commerce.
Trade deal to boost growth and jobs
According to the Minister, the tariff waiver is expected to lower trade barriers, improve logistics, and stimulate local production, especially for small and medium-sized enterprises (SMEs). By reducing costs and expanding regional demand, the agreement is poised to drive job creation and support Nigeria’s economic diversification agenda.
‘This step under the AfCFTA framework strengthens Nigeria’s role in shaping the future of intra-African trade and boosting export competitiveness,’ Oduwole added.
SMEs and manufacturers to benefit
The deal will also support Nigerian manufacturers seeking to tap into emerging African markets. Lower trade costs are expected to make Nigerian goods more attractive while enabling smoother movement of products across borders.
Industry stakeholders have welcomed the development, noting its potential to accelerate industrialisation and strengthen regional ties in line with the objectives of the AfCFTA.
Nigeria’s endorsement of the ECOWAS tariff offer marks a new chapter in its trade policy, reinforcing the country’s ambition to become a continental leader in commerce and investment.
