Nigeria’s Federal Government has ratified the Trade Facilitation Agreement (TFA), becoming the 107th member of the World Trade Organisation (WTO) to do so.
The WTO needs only three more ratifications from members to achieve the two-third threshold that will bring the TFA into force.
Nigeria’s instrument of acceptance was submitted to the WTO’s Director-General Roberto Azevêdo on the sidelines of the World Economic Forum in Davos, Switzerland, Friday by the Minister for Industry, Trade and Investment Dr. Okechukwu Enelamah.
According to Enelamah, “Nigeria’s ratification of the Trade Facilitation Agreement is a reflection of our commitment to the WTO and a rules-based economy. It is evidence of President Muhammadu Buhari’s commitment to rapidly implement his presidential initiative on the creation of an enabling environment for business.”