Nigeria has officially gazetted and transmitted the ECOWAS Schedule of Tariff Offers for Trade in Goods under the African Continental Free Trade Area (AfCFTA) to the AfCFTA Secretariat.
This move comes ahead of the 16th Council of Ministers Meeting on Trade scheduled for April 15 in Kinshasa, Democratic Republic of Congo, and marks a significant milestone in Nigeria’s trade integration efforts.
The gazetted Schedule sets the foundation for implementing zero duties on 90% of tariff lines under AfCFTA, effectively positioning Nigerian goods for improved access and competitiveness across African markets.
This step not only aligns with Nigeria’s regional trade commitments but also reinforces the country’s strategic role in shaping the continent’s single market.
Presidential endorsement and policy direction
Signed by President Bola Ahmed Tinubu, the transmission of the ECOWAS Tariff Schedule signals Nigeria’s readiness to trade under AfCFTA’s preferential regime.
It further demonstrates Nigeria’s intent to foster export-led growth, improve its trade balance, and attract intra-African investment.
Commenting on the development, Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, said:
“The gazetting and transmission of the ECOWAS Schedule of Tariffs to the AfCFTA Secretariat signals Nigeria’s readiness for trade under the Agreement.
“This milestone enables Nigerian exporters to leverage preferential tariff access across African markets, positioning Nigeria as a key player in regional and global trade.”
Nigeria first shipped goods under the AfCFTA framework in July 2024.
With this formal gazetting, the country is expected to accelerate its participation in the continental free trade agreement, expanding opportunities for businesses, manufacturers, and exporters.
Key implications for the economy
The gazetting of the Tariff Schedule is expected to deliver far-reaching economic benefits, which include:
- Trade expansion: By eliminating tariffs on 90% of goods, Nigerian products can now access African markets more competitively.
- SME growth: Reduced barriers open doors for small and medium enterprises (SMEs) to scale operations regionally.
- Job creation and investment: Increased exports and investor confidence are expected to boost job creation and attract both intra-African and foreign direct investment.
- Regional integration: Strengthened trade ties within ECOWAS and broader AfCFTA regions will enhance Nigeria’s influence in shaping African economic policy.
Phased tariff reduction strategy
Under its preferred classification, Nigeria’s tariff reductions for trade in goods follow a phased approach over a 10-year period beginning in 2021:
- By 2025, the fifth year of AfCFTA implementation, a 50% tariff reduction on NGN should immediately affect goods in trade with the least developed countries in Africa, implemented at a rate of 10% per year.
- For trade with developing countries on the continent, Nigeria retains the flexibility of complete tariff elimination (0%), effective immediately under AfCFTA, applying a 20% reduction annually.
This strategy aligns with the African Union’s directive from the 35th Ordinary Session of Heads of State and Government held in February 2022, allowing other AfCFTA State Parties to accept consignments from Nigeria under the Agreement.
The announcement also builds on Nigeria’s growing leadership in digital trade. In February, President Tinubu was commended for his role in advancing AfCFTA’s digital trade agenda.
As a co-Champion of Digital Trade, Nigeria is working to streamline cross-border e-commerce and digital payments to make AfCFTA more accessible for tech-enabled businesses and SMEs.
