Nigeria approves 90% duty waiver on imports under AfCFTA

Nigeria has officially signed and submitted its ECOWAS Tariff Offer to the African Continental Free Trade Area (AfCFTA), establishing zero duties on 90 percent of goods traded within the continent.

The milestone, announced during the AfCFTA Council of Ministers meeting in Kinshasa, DRC Congo, reflects Nigeria’s interest in intra-African trade integration.

President Bola Tinubu endorsed the ECOWAS Schedule of Tariff Offers on behalf of Nigeria, which officials say shows Nigeria’s ambition to lead the continent’s trade future.

“This strengthens our role in shaping the future of African trade and unlocks new opportunities for businesses and exporters,” the government said in a statement following the submission.

Jumoke Oduwole, minister of industry, trade and investment, described the submission as a show of confidence in the country’s entrepreneurial capacity.

“As Nigeria commences on our implementation review of five years of AfCFTA, we have been reflective on the journey so far,” Oduwole said in a statement on X.

“What is clear is that Nigerian entrepreneurs are more than ready to take on the challenge to move across borders.”

She noted that the government is actively supporting collaboration with Nigerian businesses to grow regional supply.

“We welcome other businesses and other entrepreneurs into our one market, and we also look forward to gracing the shores of many other countries with our proudly Nigerian products,” she said.

Oduwole lauded the resilience of local entrepreneurs. Noting their “indefatigable spirit, their adventurous spirit, their hardworking tenacity as we deliver on the promise of the AfCFTA agreement.”

The AfCFTA, regarded as the world’s largest free trade zone, connects 54 African countries to a single market of 1.4 billion people with a combined GDP of $3.4 trillion. For Nigeria, this opens up possibilities.

“It’s an opportunity for our hardworking entrepreneurs to take their goods out of Nigeria and earn much needed foreign exchange,” Oduwole said.

“It’s an economy to expand businesses for our MSMEs, for our women-led businesses, for our youth-led businesses to trade with other Africans across the continent.”

She spotlighted Nigeria’s growing edge in digital trade and services, adding that “we continue to lead the world in digital trade framework… and harness and keep value within our continent to ensure prosperity for African people.”

The development is expected to give fresh momentum to Nigeria’s exporters, especially as the country grapples with currency instability and rising demand for foreign exchange.

By eliminating tariffs on the bulk of goods traded across African borders, Nigeria now positions itself to tap into wider markets and drive industrial growth.

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