Vol 10, No 2 (2022)
Prospects for Nigeria’s Trade Performance within the African Continental Free Trade Area
Mike A. Onodje
Abstract
The African Continental Free Trade Agreement (ACFTA) is touted to hold the potential for rapid and sustainable development for the African continent through trade-driven growth. It is believed that the agreement could increase Foreign Direct Investment into participating countries and also facilitate internal diversification, raise employment, and possibly ameliorate poverty and inequality. Despite these possibilities, there are concerns that the ACFTA may shrink tariff revenues and intensify external competition for local industries in Nigeria. Given these concerns, this paper explores the prospects for Nigeria’s sustainable competitiveness and discusses avenues for enhancing her trade performance within the ACFTA. The main conclusions from this study are that human capital development, infrastructural improvement, targeted monetary and fiscal policies are some strategies that could position Nigeria to harness the benefits of the ACFTA.
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Keywords
Export-led growth; Free trade; Trade competitiveness.
Publication information
Volume 10, Issue 2
Year of Publication: 2022
ISSN: 1857 - 8721
Publisher: EDNOTERA
How to cite
Onodje M. A.: Prospects for Nigeria’s Trade Performance within the African Continental Free Trade Area. Journal of Applied Economics and Business, Vol 10, No. 2, 5-20. (2022)