Index to Nigerian Newspapers

The African Continental Free Trade Area Agreement (AfCFTA) came into force on January 1, 2021, but Nigeria continues to lag behind due to structural challenges, Coronavirus pandemic and lack of consensus on trade protocols and strategy. Despite the ratification of the trade deal among African countries, the political will to implement the deal remains in doubt. Nigeria has lost opportunities to enjoy projected income through tariffs on its sensitive products as some of the products will have to be liberalised within the 10-year period agreed in the deal. Stalling implementation also means that most of the products on the sensitive list will be liberalised, putting the country at a disadvantage. The deadline for 90% tariff liberalisation was July 1, 2020. AfCFTA is expected to liberalise seven per cent of "sensitive products" over a 10-year period, but disruptions of global supply chains and non-tariff barriers have limited its potential. The Protocol Relating to the Free Movement of Persons, Right of Residence, and Right of Establishment is expected to serve the interests of African workers, entrepreneurs, and the large informal sector, but only four countries have deposited their instruments of ratification at the AU depository. Intra-African trade accounts for 17 per cent of African exports, but Nigeria's share is low.