On 21 March 2018, the African union introduced the African Continental Free Trade Area (AfCFTA) agreement. The agreement is designed to accelerate the political and socio-economic integration of the African continent. The AfCFTA agreement became effective on 30 may 2019.
On 7 July 2019, President Muhammadu Buhari signed the African Continental Free Trade Area agreement making Nigeria the 53rd country to sign the agreement after President Buhari’s initial hesitancy to sign the agreement. The agreement creates a single market for goods and services by facilitating free movement of goods, services and investment within the African continent.
The AfCFTA took off on January 1, 2021.