An Analysis of the AfCFTA in Nigeria: Obstacles, Key Takeaways, and Pathways to Progress
摘要
The AfCFTA is a transformative initiative aimed at enhancing trade relations and boosting the economic potential of countries in the African region. Nigeria effectively joined the AfCFTA by signing and ratifying its instruments on the fifth of December 2020. This study analyses the AfCFTA’s implementation in Nigeria to identify the major obstacles that hinder its full implementation in Nigeria, as well as discussing effective pathways to its progress. The study shows that, despite the implementation of the AfCFTA in Nigeria, the country has continued to heavily rely on other regions and relatively less on African countries for its export and import trades. It further demonstrated that the lack of full domestication of the AfCFTA, inadequate trade-related infrastructure, among other factors, are the major obstacles hindering the full implementation of the AfCFTA in Nigeria. In light of the above, the study discussed effective pathways to the full implementation of AfCFTA in Nigeria and proposed several policy recommendations.