Report by Nigeria

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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.

Related Topics: Trade monitoring
Countries: Nigeria
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