Nigeria gets fresh prospects in ECOWAS, international trade

The upcoming handover of a $4.5 billion Seme border facility to Nigeria and the Republic of Benin has increased hopes of smoother trade across West Africa and with third party countries.

The European Union (EU) and Economic Community of West African States (ECOWAS) have embarked on a technical simulation of the new post, which will be opened for preliminary operations today, ahead of the official launch in September.

Reports show that Nigeria will be the better for the initiative. The total trade of the West African region is about $300 billion. Exports are projected at approximately $137.3 billion, while imports total about $80.4 billion. The main active countries in trade are Nigeria, which alone accounts for approximately 76 per cent of total trade, followed by Ghana (9.2 per cent) and Côte d’Ivoire (8.64 per cent).

The Guardian, July 30, 2018

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