The elimination of tariff following the introduction of the African Continental Free Trade Area Agreement (AfCFTA) is expected to boost intra-African trade by 52 per cent and help Nigeria and others benefit from a $29 trillion market by 2050.
According to a report by Ernst and Young (EY), titled: “Diversification and Non-oil Export Opportunities for Nigeria States Post-COVID-19,” which was commissioned by the PDF Bridge Programme, through the elimination of tariffs, the enlarged continental market will attract higher FDI flows into the continent to support infrastructure development, increase productivity, support diversification, value addition and structural transformation. Read More.
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