AfCFTA: Nigeria submits Instruments of Ratification, becoming the 34th State Party

Nigeria has submitted its Instruments of Ratification of the AfCFTA, becoming the 34th African country fully do so.

By William Ukpe

Nigeria became the 34th African country to fully ratify and submit its Instrument of Ratification of the African Continental Free Trade Area (AfCFTA).

This was disclosed in a statement by the Ministry of Foreign Affairs on Saturday.

On behalf of @NigeriaGov, Amb. Richard Adejola, Head of the Nigerian Mission to @_AfricanUnion deposited the Instrument of Ratification of the Agreement Establishing the AfCFTA with the African Union legal depository, today, 5th December, 2020. pic.twitter.com/zJwUPj0DA8

— Ministry of Foreign Affairs, Nigeria (@NigeriaMFA) December 5, 2020

The African Continental Free Trade Area (AfCFTA) is expected to open up Nigerian businesses to a market of over 1.2 billion people and a GDP of $2.5 trillion.

• Nairametrics reported last month that The Federal Government announced that it has ratified Nigeria’s membership to the African Continental Free Trade Area (AfCFTA), ahead of the December 5, 2020 deadline.
• The agreement goes into effect from the 1st of January 2021.