What Nigeria’s 90% AfCFTA tariff waiver means for trade

Nigeria’s formal submission of its tariff commitments under the African Continental Free Trade Area (AfCFTA) has opened a new chapter in its regional trade policy. The move, announced at the AfCFTA Council of Ministers meeting in Kinshasa, Democratic Republic of Congo, sees Nigeria adopting a 90 percent duty waiver on goods traded within Africa.

It follows President Bola Tinubu’s endorsement of the ECOWAS Schedule of Tariff Offers, a document that outlines Nigeria’s trade concessions under the agreement.

With this submission, Nigeria joins other countries that have formally signalled readiness to begin full implementation of the continent-wide free trade deal, one that links 54 nations into a $3.4 trillion market.

“It signals that Nigeria is serious about trading,” said Jumoke Oduwole, minister of industry, trade and investment, in an interview with Arise News.

“With this waiver, Nigerian exports can now enjoy more favourable terms across Africa, and our businesses will be better positioned to compete.”

The tariff schedule, which runs into hundreds of pages, had to pass through multiple ministries, finance, justice, and trade, before being gazetted and transmitted to the AfCFTA Secretariat in Accra. It covers a wide range of goods that will now attract zero duties across partner countries, creating opportunities for businesses to scale beyond Nigeria’s borders.

Oduwole said the government took its time to get the framework right. “We didn’t need to react and be in a rush,” she said. “This has been our approach for the past 22 months, building quietly but deliberately to make Nigerian businesses ready.”

Read also: Nigeria approves 90% duty waiver on imports under AfCFTA

She noted that it already has some momentum, citing data from the CBN. The Central Bank of Nigeria (CBN) reported in its monthly economic report for January 2025 that non-oil export earnings increased in January 2025 to $0.56 billion from $0.54 billion due to higher receipts from the export of agricultural commodities. The minister believes this growth can accelerate as the trade deal comes into full effect.

To help businesses navigate the new terrain, Oduwole revealed that the government will soon launch a market intelligence tool that identifies countries where Nigerian products are most in demand, particularly in East and Southern Africa.

“We’re supporting MSMEs with not just data but trade missions and regulatory information,” she explained. “From knowing what licences are required to understanding customs processes in other countries, we want to remove the guesswork.”

Discussions will continue as Nigerian Customs Service will host Customs heads from across the continent in Abuja later in the year.

But Nigeria is also betting on services. Oduwole noted that Nigerian banks, fintechs, and agritech firms are already expanding across the continent, buoyed by the country’s role as a digital trade co-champion alongside Kenya and South Africa.

“We’ve developed a digital trade framework, the first of its kind globally, and we’re now moving into implementation,” she said, referring to the National Single Window,a unified digital system that has suffered years of delay. A continental digital trade summit is planned for Lusaka next month.

Yet even with the bold plans, challenges linger with poor logistics infrastructure, and gaps in financing and digital access for smaller businesses. But Oduwole insists Nigeria is leaning in.

“2030 is too far,” she said, referring to the AfCFTA’s target for reaching 50 percent intra-African trade. “We must move faster, and Nigerian businesses are ready to lead.”

Oduwole had lauded the resilience of local entrepreneurs citing their “indefatigable spirit” as motivation to accelerate the trade processes.

“It’s an opportunity for our hardworking entrepreneurs to take their goods out of Nigeria and earn much needed foreign exchange,” Oduwole said.

“It’s an economy to expand businesses for our MSMEs, for our women-led businesses, for our youth-led businesses to trade with other Africans across the continent.”