Leadership, 08 January 2025
by Kingsley Alu

Nigeria has cleared final barriers to African Continental Free Trade Area

Nigeria has removed the remaining legal and policy obstacles to trading under the preferential terms of the African Continental Free Trade Area (AfCFTA) after the Federal Government gazetted key instruments required to activate the agreement, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has said.

Speaking at the presentation of the Nigeria AfCFTA Achievements Report 2025, Oduwole said the country had completed AfCFTA obligations covering trade in goods, trade in services and digital trade, effectively positioning Nigerian businesses to access preferential treatment across African markets.

“Nigeria is fully prepared to trade within Africa under the preferential terms of the AfCFTA,” Oduwole said, adding that the Ministry of Industry, Trade and Investment had taken deliberate steps to equip Nigerian firms to compete in the continental market.

She stated the AfCFTA marks the culmination of Africa’s long-standing push for trade-led economic integration, driven by the progressive elimination of tariffs, the removal of non-tariff barriers and stronger regulatory co-operation among State Parties.

According to Oduwole, the agreement provides a framework that allows African producers, investors, traders and workers to convert market access into economic value, arguing that Africa retains greater value when it trades with itself.

She described Nigeria as a leading proponent of regional economic integration, noting that the country played a foundational role in shaping Africa’s trade architecture. Oduwole recalled that Nigeria hosted the conclusion of AfCFTA negotiations in 2017, signed the agreement in 2019 and ratified it in 2020.