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May 23, 2024DiamondBridge Economics and Business Journal0 citations

The Liberating Effects of Nigeria to African Continental Free Trade Area: Synoptic Perspectives

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EAEgbert Ogolo AmiesighaSOSilva Opuala-Charles

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Abstract

This article examines the African Continental Free Trade Area (AfCFTA), with special attention to its goals, background, challenges, and effects on Nigeria. Africa has abundant natural resources and a diverse range of cultures, but it also faces challenges like poor infrastructure and ineffective governments, which limit trade throughout the continent. Recall, AfCFTA was created in 2018 with the intention of creating a competitive single African market by eliminating tariffs and other barriers. The AfCFTA aims to eliminate tariffs, standardize customs procedures, resolve disputes amicably, and cooperate in addressing technical barriers. Hence, this study delved into the synoptic perspective of the liberating impacts of the African Continental Free Trade Area (AfCFTA) agreement., especially on Nigeria trade relations. The liberation needed cloches were: weak infrastructure development, slow trade facilitation, and under standardization. Hence, by economically engaging in AfCFTA, created pathway for access to more affordable goods. Although, unfulfilled trade obligations posed a cog on the implementation Wheel. However, liberation is set for infrastructure development, increased exports, better trade facilitation, and institutional development Keywords: Africa; Economic Liberation; Nigeria; Free trade

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Amiesigha et al. (2024) studied this question.

synapsesocial.com/papers/68e68cfdb6db643587614afchttps://doi.org/10.60089/dbebj.2023.4.3.1
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Also Consider

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