The IMF report, from its findings, asserts that trade barrier removal would increase median goods trade between African countries by 53 per cent while also increasing the median goods trade between African countries by 53 per cent and with the rest of the world by 15 per cent. Recent data shows that total intra-African agricultural trade was valued at US$24.4 billion (US$13.2 billion exports and US$11.1 billion imports) representing some 19% of total intra-African exports and 18% of intra-African imports. Though Nigeria signed the protocol in Niamey, Niger Republic with the pronouncement that it believes not only in free trade but also fair trade, the anti-AfCFTA behaviour under Buhari was unabating. A case in point is the frequent border closures between Nigeria and its close neighbour Benin Republic. Lots of petty traders transact in perishable consumer items such as tomatoes, poultry products, rice and many others across these borders.

Source: The Guardian June 14, 2023 04:34 UTC