Nigeria has made the list of World Trade Organization (WTO) members to approve the Trade Facilitation Agreement (TFA), which is expected to reduce trade costs by over 14% for low-income countries and more than 13% for upper middle-income countries by restructuring the flow of trade across borders.
The TFA contains a series of measures for expediting the movement, release and clearance of goods, including goods in transit across borders.
Besides Nigeria, other African countries that have approved the TFA are; Botswana, Niger, Togo, Côte d’Ivoire, Kenya, Zambia, Lesotho, Mali, Senegal, Swaziland, Gabon, Ghana and Mozambique.