The prospects of ECOWAS trade liberalisation in Nigeria

Abstract

This paper examines Nigeria’s participation in the ECOWAS Trade Liberalisation Scheme and the potential gains that may accrue the country opening up to trade in the West African sub-region. The ECOWAS Free Trade Area is to give rise to the elimination of custom duties and accompanied by the total elimination of all non–tariff barriers and other administrative measures impeding the free flow of trade in the sub–region. Employing a deductive approach the paper posit that Nigeria stands a chance of benefiting through such gains as improved wages and employment, increased productivity in the manufacturing industry and enhanced technological progress and economic growth. With Nigeria remaining committed to the implementation of the Common External Tariff, she heads toward jointly taking advantage of the opportunities of trade liberalization.

Keywords: Trade liberalisation, economic integration, common external tariff, openness to trade, intra-regional trade.