Free trade agreements (FTAs) are becoming increasingly popular among countries around the world. Nigeria is one of the many countries that have signed up for free trade agreements. In this article, we will discuss everything you need to know about free trade agreements in Nigeria.

What Are Free Trade Agreements?

Free trade agreements are agreements between two or more countries that eliminate tariffs, quotas, and other trade barriers between them. This allows goods and services to move freely between the countries without any additional costs or restrictions.

Why Does Nigeria Sign Free Trade Agreements?

Nigeria is Africa`s largest economy, and it is essential for the country to have access to markets beyond its borders. By participating in free trade agreements, Nigeria can increase its exports, attract foreign investment, and improve its economic growth. Additionally, it can also benefit from lower import prices, increased competition, and access to new technology and ideas.

Free Trade Agreements Nigeria Has Signed

Nigeria has signed several free trade agreements with different countries and economic blocs over the years. Here are some of the most significant free trade agreements Nigeria has signed:

1. African Continental Free Trade Agreement (AfCFTA)

The African Continental Free Trade Agreement is a landmark free trade agreement that covers the entire African continent. The agreement was signed in March 2018 and came into effect on January 1, 2021. The AfCFTA aims to create a single African market for goods and services, with free movement of people and investments. The agreement is expected to boost intra-African trade, create jobs, and accelerate Africa`s economic development.

2. Economic Community of West African States (ECOWAS)

The Economic Community of West African States is a regional trade bloc that covers 15 countries in West Africa, including Nigeria. Nigeria signed the ECOWAS Trade Liberalization Scheme in 1995, which is a framework for the gradual elimination of trade barriers in the region. The scheme aims to create a free trade area in West Africa, increase intra-regional trade, and promote economic integration.

3. Nigeria-China Free Trade Agreement

Nigeria signed a free trade agreement with China in 2010, which came into effect in 2011. The agreement aims to promote trade and investment between the two countries, eliminate trade barriers, and create a favorable business environment for investors.


Free trade agreements offer many benefits for countries that participate in them. Nigeria has signed several free trade agreements, including the African Continental Free Trade Agreement, the Economic Community of West African States, and the Nigeria-China Free Trade Agreement. These agreements aim to promote economic growth, increase trade, and attract foreign investment. As Nigeria continues to participate in free trade agreements, the country is expected to see significant improvements in its economy.