Government TPR |
WT/TPR/G/356/REV.1 |
G-IV§4 |
Nigeria |
2017 |
Trade Policy Framework |
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The 2002 Nigerian Trade Policy Regime was designed to integrate the country into the global trading system with a view to maximizing the advantages of globalization. The goals of that trade policy were threefold. First, to maximize the benefits from trade, create jobs and engender economic growth and inclusive development while safeguarding the Nigerian economy from unfair trading practices, protecting Nigerian consumers, and the environment from unsustainable practices. Second, to enhance Nigeria's competitiveness in the global trading environment, through the creation of an enabling environment that supports diversification of exported products through removal of all encumbrances to production and trade. Third, to deepen and expand the nation's contribution to international trade with the aim of building a fair, transparent and equitable trading platform that responds to the demands of domestic stakeholders and creates opportunities for win-win for foreign trade partners. While these objectives remain valid, since 2002 the global trading environment has undergone radical transformation that requires domestic trade policy adjustments.
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Government TPR |
WT/TPR/G/356/REV.1 |
G-VI§5 |
Nigeria |
2017 |
Trade Policy Framework |
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The implementation of the ERGP, the envisaged conclusion of the negotiations for the Continental Free Trade Area (CFTA) and its implementation, the implementation of the United Nations Sustainable Development Goals (SDGs) and, scope for Nigeria's bilateral negotiations, shall be the main drivers of both the economic policy reform, in general, and trade policy reform, in particular.
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Government TPR |
WT/TPR/G/356/REV.1 |
G-VII§1 |
Nigeria |
2017 |
Trade Policy Framework |
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This report has presented recent developments in Nigeria and the challenges currently facing the economy especially the economic recession. While this is a challenging period for the economy, it is also presents a historic opportunity for domestic policy and structural reforms in an economy abundant with opportunities. Trade policy remains central as an engine for growth and for driving sustainable and inclusive development aspiration of the country. Hence, Nigeria remains committed to the WTO process and the rules-based Multilateral Trading System.
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Secretariat TPR |
WT/TPR/S/356/REV.1 |
S-Summary§6 |
Nigeria |
2017 |
Trade Policy Framework |
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Relevant information
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Nigeria intends to diversify its economy away from oil by building a competitive manufacturing sector, which should facilitate integration into global value chains (GVCs) and boost productivity; as well as a strong services sector to be supported by an enabling environment for private-sector-led growth, industrial competitiveness and sustainable development. ()
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Secretariat TPR |
WT/TPR/S/356/REV.1 |
S-Summary§22 |
Nigeria |
2017 |
Trade Policy Framework |
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Given the central role of the gas and petroleum sector to Nigeria's economy, and despite the country's wealth of oil and gas, the sector continues to face many challenges, including sporadic supply disruptions; oil thefts leading to severe pipeline damages, production losses, pollution, and disruption of production; aging infrastructure; and poor maintenance and the resulting oil spills. ()
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Secretariat TPR |
WT/TPR/S/356/REV.1 |
S-Table-II.1 |
Nigeria |
2017 |
Trade Policy Framework |
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Table 2.1 Selected trade-related legislation, March 2017
Area Title of law/regulation
()
Import prohibitions Endangered Species (Control of International Trade and Traffic) Act, Cap E9.LFN, 2004
()
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Secretariat TPR |
WT/TPR/S/356/REV.1 |
S-II§10 |
Nigeria |
2017 |
Trade Policy Framework |
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As part of its Vision 20:2020 and the Nigerian Economic Recovery and Growth Plan (ERGP) (2017-2020), Nigeria strives to become one of the top 20 leading global economies by 2020. To meet this objective, the country aims to diversify away from oil by building a competitive manufacturing sector which facilitates integration into Global Value Chains (GVCs) and boosts productivity, as well as a strong services sector. The Government's priorities are to invest in infrastructure to create an enabling environment for growth, industrial competitiveness and sustainable development.
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Secretariat TPR |
WT/TPR/S/356/REV.1 |
S-II§11 |
Nigeria |
2017 |
Trade Policy Framework |
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() Nigeria's main trade policy objective is to substantially increase the contribution of trade to its GDP, the country's share of global trade, as well as to contribute to promoting intra-African trade, so as to accelerate economic growth and national sustainable development.
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Secretariat TPR |
WT/TPR/S/356/REV.1 |
S-II§14 |
Nigeria |
2017 |
Trade Policy Framework |
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Relevant information
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() In the TRIPS negotiations and as part of the African Group, Nigeria is one of the proponents of the W52 proposal, sponsoring a proposal on geographical indications to create a multilateral register for wines and spirits, and extending the higher level of protection beyond wines and spirits and on disclosure where patent applicants would disclose the origin of genetic resources and traditional knowledge used in the inventions.
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Secretariat TPR |
WT/TPR/S/356/REV.1 |
S-II§20 |
Nigeria |
2017 |
Trade Policy Framework |
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The objective of the CFTA is to overcome dependence on Africa's exportation of primary products, to promote social and economic transformation for inclusive growth, as well as industrialization and sustainable development, with the aim of increasing intra-African trade by 50% by 2022. The scope of the negotiations covers rules of origin; sanitary and phytosanitary measures; technical barriers to trade; trade remedies; customs procedures and trade facilitation; as well as draft modalities for trade in goods and trade in services.
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