Businesses raise concerns about the country’s implementation strategy
Though Nigeria ratified the African Continental Free Trade Area (AfCFTA) agreement, which is set to commence implementation today, there are concerns about the country’s readiness to take advantage of the trade deal as a result of lingering challenges, especially as it relates to border control and customs procedures.
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While many small businesses are unaware of details of the trade deal according to a recent survey by the Organised Private Sector, raising concerns about Nigeria’s implementation strategy, a large majority expressed worry about increased competition from other countries, despite the challenging business environment in the country.