Nigeria Yet To Sign Free Trade Agreement

The African Continental Free Trade Area (AfCFTA) has been signed by 44 African countries at a summit of the African Union in Kigali, Rwanda. 10 of the African Union’s (AU) 55 member states, including Nigeria are yet to sign the agreement. The summit was a step forward for the AU’s 2063 project for closer African integration, with 27 member states also signing a commitment for the free movement of persons. The agreement is predicted to boost intra-African trade. If successful, it will be the biggest trade agreement since the formation of the World Trade Organization in 1995. By reducing barriers to trade, such as removing import duties and non-tariff barriers, African countries hope to boost intra-continental trade. Should Nigeria sign?