Kenya is among three African countries targeted in Nigeria's newly-launched AfCFTA air corridor, a strategic move to deepen trade ties while posing fresh competition to local exporters.
This is after the West African nation officially launched the corridor, which is aimed at boosting its exports to key African markets while cutting logistics costs for Nigerian exporters by between 50 per cent to 75 per cent. For Kenya, this development could mean access to a wider range of imported products, particularly textiles, cosmetics, and agro-products, at more competitive prices, which are part o the products Nigeria aims to extend its market reach or.
However, local manufacturers may face pressure from Nigerian firms benefiting from lower transport costs and newly gazetted AfCFTA tariff reductions.
The announcement was made on Sunday by the Minister of Industry, Trade and Investment, Dr.
