Tinubu Signs ECOWAS Tariff Offer, Waives Tariff On 90% Goods Traded Within African Nations.
In a landmark move to deepen regional integration and stimulate intra-African trade, President Bola Tinubu has signed the Economic Community of West African States (ECOWAS) Schedule of Tariff Offers, which establishes zero duties on 90 per cent of goods traded within Africa. This significant step reinforces Nigeria’s commitment to the African Continental Free Trade Area (AfCFTA) and positions the country as a key player in shaping the future of trade across the continent.
The signing took place yesterday during the AfCFTA Council of Ministers meeting in Kinshasa, Democratic Republic of Congo, where President Tinubu formally submitted Nigeria’s ECOWAS Tariff Offer. This development marks a strategic advancement in Nigeria’s trade policy, offering new opportunities for Nigerian businesses and exporters to access African markets with increased profitability and competitiveness.
In a move applauded by stakeholders, Nigeria also gazetted its AfCFTA Provisional Schedule of Tariff Concessions (PSTCs), becoming the 23rd AfCFTA state party to meet this compliance benchmark. The gazetting provides transparency and ensures that businesses, organisations, and citizens are fully informed of the new trade regulations under AfCFTA.
The provisions enable Nigeria to grant preferential tariff treatment to all eligible goods upon importation, giving traders certainty and encouraging long-term investment. It is expected to enhance economic growth, stimulate job creation, and strengthen trade ties with other African countries.
Dr Jumoke Oduwole, the Federal Minister of Industry, Trade and Investment, hailed the development as a major milestone for Nigerian businesses. “As Nigeria commences our five-year implementation review of AfCFTA, we are reflective of the journey so far. What is clear is that Nigerian entrepreneurs are more than ready to take on the challenge of moving across borders,” she stated.
She further emphasised the government’s readiness to support entrepreneurs, noting that “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’s first shipment under the AfCFTA was initiated in July 2024. With the formal gazetting now complete, the country has solidified its leadership in regional trade and integration, enabling Nigerian products to compete effectively in other African markets.
Dr Oduwole encouraged more entrepreneurs and businesses to seize the opportunities presented by AfCFTA, stressing that it offers Nigerian enterprises the chance to expand their reach and earn valuable foreign exchange.
The move aligns with the directive from the 35th Ordinary Session of the African Union Assembly held in February 2022, allowing other AfCFTA member states to accept consignments from Nigeria under the agreement.
With these developments, Nigeria has not only demonstrated its dedication to Africa’s single market initiative but also set the stage for broader economic transformation through increased trade, reduced barriers, and strengthened ties across the continent.
