Trade agreements

There are two important and beneficial trade agreements regarding trade in Nigeria: African Growth Opportunity Act (AGOA) and ECOWAS Trade Liberalization Scheme (ETLS). Check out the details about these trade agreements and see why it makes importing from Nigeria even more interesting!

 

AGOA

AGOA logo for NEPC

AGOA is a United States trade act, which allows unhindered market access to the US for Nigeria, significantly strengthening trade relations between the two countries. The products covered by the act include:

  • Agricultural products
  • Apparel and footwear
  • Motor vehicle components
  • Chemicals
  • Wine
  • Steel

 

Benefits for you as buyer

The unhindered market access makes it easy for importers in the US to buy Nigerian products at competitive prices. It also promotes economic integration between the two countries, strengthening trade ties and thereby continuously improving ease of doing business in Nigeria. 

More details about the trade agreement can be found on the AGOA official website

 

 

ETLS

ETLS offers unhindered access to its fifteen member countries and promotes economic relations within the sub-region. Countries covered in ECOWAS include: Nigeria, Ghana, Benin, Côte d’Ivoire, Gambia, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Senegal, Sierra Leone, Togo, Burkina Faso, Cape Verde.

 

Benefits for you as buyer

The most obvious benefit for buyers and importers in the ECOWAS region is the unhindered market access. This ensures that they can purchase Nigerian products at competitive prices and without (much) logistical constraints.

On top of this, there are benefits for EU buyers. As part of ECOWAS, Nigeria is part of Economic Partnership Agreements (EPAs). The most important has been established between ECOWAS and the EU. This EPA has led to the removal of trade restrictions between ECOWAS countries (like Nigeria) and EU countries. This means that EU buyers can purchase Nigerian products at competitive prices as well.

Check out the official ETLS website for more details.