Nigeria, Africa’s biggest economy, will join a trade agreement that will boost trade in the continent.
Nigeria will officially be part of the Africa Continental Free Trade Agreement (AfCFTA) on July 7.
This was announced by the official Twitter account of the Nigerian presidency, President Muhammadu Buhari, who wrote: “Let me state unequivocally that trade is important for us as a nation and to all nations. Economic progress is what makes the world go around. Our position is very simple, we support free trade as long as it is fair and conducted on an equitable basis.”
The AfCFTA seeks to gather all 54 nations of the African Union (AU) into a single market by taking away trade barriers and tariffs in Africa. This would boost trade in the region as well as provide companies the option to expand in new markets.
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