Nigeria Launches Toolkit to Boost AfCFTA Business

On a recent date, the Federal Government of Nigeria, represented by Minister of Industry, Trade and Investment Jumoke Oduwol, unveiled a simplified trade toolkit designed to ease business operations under the African Continental Free Trade Area (AfCFTA). The toolkit, available in English and Hausa, aims to boost the participation of Nigerian traders in the continental free trade area.

During the launch in Kano, Oduwol emphasized the initiative's role in aligning trade facilitation with President Bola Ahmed Tinubu's Renewed Hope Agenda, which seeks to ensure economic opportunities reach all Nigerians. The toolkit includes materials on trade rules, customs procedures, and compliance standards, particularly for small and medium enterprises (SMEs).

Oduwol also announced plans for live export simulation training sessions and highlighted Nigeria's notable gains under AfCFTA, including a 75% reduction in freight costs via an air cargo corridor. Kano State Governor Abba Kabir Yusuf expressed readiness to leverage AfCFTA opportunities for industrial and SME development.