In a transfer aimed toward boosting Nigeria’s intra-African commerce footprint, the Federal Authorities has launched a strategic partnership with Uganda Airways to ease the motion of products from Nigeria to key African markets beneath the African Continental Free Commerce Space (AfCFTA) settlement.
Introduced on Sunday, the brand new initiative will slash air cargo charges by 50–75 p.c, a value lower that additionally contains reductions in regulatory prices.
The air hall will hyperlink Nigerian exporters to 3 main commerce hubs on the continent: Uganda, Kenya, and South Africa.
Minister of Trade, Commerce and Funding, Dr. Jumoke Oduwole, disclosed the event through her official X (previously Twitter) deal with, highlighting it as a “daring new pathway” to reinforce Nigeria’s commerce entry beneath the AfCFTA.
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In accordance with Oduwole, the commerce hall formally launched on Sunday and is predicted to facilitate the export of textiles, cosmetics, agro-products, baggage, and different regionally made items, serving to Nigerian companies compete extra successfully throughout the African market.
The federal government additionally confirmed that AfCFTA tariffs have now been gazetted, paving the best way for decrease commerce prices for Nigerian exporters.
This transfer aligns with broader efforts by the Nigerian authorities to diversify exports, scale back dependency on conventional markets, and deepen {economic} integration with different African nations by improved logistics and market entry.
