Economics

Nigeria to Join Africa Free Trade Zone, Trade Minister Says

President Buhari is reviewing an impact-assessment report
Buhari has a ’sense of urgency’ about the trade deal

People ride on a boat past A.P. Moeller-Maersk A/S branded shipping containers stacked at the Ladol free trade zone port in Lagos, Nigeria.Photographer: George Osodi/Bloomberg

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By Ruth Olurounbi

May 21, 2019 at 3:37 PM UTC

Updated on

May 22, 2019 at 6:28 AM UTC

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Nigeria will sign the Africa Continental Free Trade Agreement as soon as President Muhammadu Buhari approves an impact-assessment report he asked for, the country’s trade minister said.

Nigeria is one of 29 countries yet to sign the agreement seeking to boost intra-African trade, stimulate investment and innovation. The trade deal comes into effect May 30 after 22 African countries ratified it.