African Growth and Opportunity Act and trade performance in Nigeria

Abstract

This study examines the implementation status of the African Growth Opportunity Act (AGOA) and its performance in Nigeria using socio-economic indicators. Also, the study provides recommendations on how Nigeria can harness the opportunities latent in AGOA using statistical inference and in-depth interview with relevant stakeholders. The findings show that despite the privileged economic relations with the United States of America (USA), Nigeria is yet to optimise the benefits derivable from the AGOA initiative. Weak adherence to international products packaging and standards, weak manufacturing base, and inadequate infrastructural provision, among others, have limited Nigeria's possible gains from AGOA. Hence, this study submits that Nigeria can improve its export performance under AGOA, given the considerable untapped potentials in many AGOA-product sectors.

Keywords

• AfCFTA
• AGOA
• Diversification
• Trade openness
• Trade performance
• Trade policy