Trade Facilitation in Goods

The AfCFTA Nigeria Trade Facilitation is a crucial aspect of Nigeria’s participation in the African Continental Free Trade Area (AfCFTA). It focuses on simplifying and harmonizing international trade procedures within the AfCFTA. The goal is to streamline processes related to collecting, presenting, communicating, and processing data for the movement of goods in international trade.

The AfCFTA Agreement’s Annex 4 outlines the principles of trade facilitation, covering 31 articles that address various areas. These include the publication of trade procedures, advance rulings, pre-arrival processing, electronic payment, risk management, post-clearance audit, average release times, trade facilitation measures for authorized operators, expedited shipments, and the use of international standards, among others.

Nigeria, under the AfCFTA, aspires to become a leading country in Africa for efficient and cost-effective intra-Africa trade transactions. The country aims to significantly reduce trade time and cost by 80% by 2035. To achieve this, Nigeria has devised plans to implement effective trade facilitation measures, establish support mechanisms, enhance personnel capacity, and address the challenges faced by exporters.

These measures aim to promote economic, production, and trade-related adjustments, as well as trade policy and regulatory reforms. Areas requiring assistance include government support, access to capital, customs procedures, port efficiency, tariff levels, and competition from foreign firms. Immediate attention is needed to tackle challenges related to infrastructure development, government licensing restrictions, and competition from imports.