Nigeria finally buys into Africa free trade, seeing windfall for seaports
Aerial view of the Port of Lagos, Nigeria. African countries intend to create a market of 1.3 billion people and a GDP of $4.4 trillion. And Nigerian officials say they can only rely on ports to ease movement of goods.
Nigeria is finally buying into the African Continental Free Trade Area (AfCFTA), seeing a windfall for its seaports for the west African country.
The AfCTA is touted as world’s largest free trade zone, when fully implemented, designed to open robust economic growth through facilitation of trade among the 55 countries in Africa. But Nigeria is a late entrant, initially reserved about the idea of collapsing barriers to trade, which it saw as potentially killing local industries.
