Nigeria

“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Nigeria.

Since the last trade policy review in 2011 there have been significant changes in Nigeria’s economic and trade policies and in the political environment also. The country recorded a successful transition from one civilian government administration to another through a peaceful democratic election. The economy was re-based in 2013 following which the country emerged as the number one economy in Africa. In 2014 commodity prices collapsed ending the commodity super-cycle. With a 60% drop in revenue the economy entered a recession in 2016. Overall although there are challenges the foundations for structural transformation of the economy have been set with the “Economic Recovery and Growth Plan” (ERGP) a medium-term plan for the period 2017 to 2020. This ERGP was launched by President Buhari on 5 April 2017.