The African Continental Free Trade Area (AfCFTA) and other Free Trade Zones (FTZs) in Nigeria

The African Continental Free Trade Area (AfCFTA) and other Free Trade Zones (FTZs) in Nigeria

The African Continental Free Trade Area (AfCFTA) stands as a groundbreaking initiative aimed at transforming the economic landscape of Africa. It seeks to create a single market for goods and services, facilitated by the free movement of people and capital. With Nigeria being one of the continent’s largest economies, its participation and the role of its Free Trade Zones (FTZs) are pivotal to the success of AfCFTA.

A Free Trade Zone (FTZ) is a geographically designated area located outside the customs territory where regulations of production, trade, and other economic activities may not be applicable or partially applicable.