Nigeria has expanded its African Continental Free Trade Area (AfCFTA) Air Cargo Export Corridor, a development expected to boost regional trade, lower logistics costs and enhance the competitiveness of Nigerian products across African markets.
The expanded corridor, launched in partnership with RwandAir, now provides exporters with a direct access to key destinations in East and Southern Africa, including Kigali, Nairobi, Johannesburg, Lusaka and Harare.
Speaking at the inauguration of the Nigeria-East/Southern Africa Air Cargo Route in Lagos, the Minister of Industry, Trade and Investment, Jumoke Oduwole, described the initiative as a strategic intervention aimed at addressing one of the major challenges confronting exporters—high freight costs.
According to her, export cargo rates have dropped from between $3 and $10 per kilogramme to less than $2 per kilogramme under the arrangement, reducing transportation expenses by more than 50 per cent and making Nigerian products more competitive in regional markets.
She noted that the lower freight charges would particularly benefit exporters of manufactured goods, agro-processed products and other value-added commodities seeking access to new markets across the continent.
