Nigeria’s regional trade declines, ranks 4th behind SA, Cote d’Ivoire, Egypt

Just three years into the implementation of the African Continental Free Trade Area (AfCFTA) agreement, Nigeria...

agreement, Nigeria has started recording decline in its intra-continental trade as well as ranking in performance amongst the nations.

The report stated: “This decline led to a marginal reduction in Nigeria’s share of total intra-African trade, which dropped from 4.4 percent in 2022 to about 4.2 percent in 2023. Nigeria’s imports from the rest of Africa remained relatively low, accounting for less than 2.9 percent of its total imports,” the report stated.

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