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Africa FTA ratified by 24 countries

The Africa Continental Free Trade Agreement (AfCFTA) has been ratified by the parliaments of 24 countries after removal of a procedural hurdle. So far, 52 nations are on board vis-à-vis this pan African agreement. Nigeria is now studying an impact assessment report and consulting domestic economic stakeholders to ascertain whether it will join the agreement. The trade deal will carve a single market for goods and services by removing existing tariff barriers across Africa and bolster regional trade. However, lengthy processes involved in implementation of the deal could be a cause of concern.