Nigeria

Draft MINUTES of the Meeting^* held on 13 and 15 November 2024

Delegations are invited to submit factual corrections, if any, on their own statement to the Secretariat (tprd@wto.org) no later than 15 January 2025.

Trade Policy Review

Nigeria

DRAFT Minutes of the Meeting

Chairperson: H.E. Mr Petter Ølberg (Norway)

CONTENTS

1  INTRODUCTORY REMARKS BY THE CHAIRPERSON.. 3

2  OPENING STATEMENT BY THE REPRESENTATIVE OF NIGERIA. 5

3  STATEMENT BY THE DISCUSSANT. 9

4  STATEMENTS BY MEMBERS. 12

5  REPLIES BY THE REPRESENTATIVE OF NIGERIA AND ADDITIONAL COMMENTS. 69

6  CONCLUDING REMARKS BY THE CHAIRPERSON.. 75

7  ADOPTION OF TPRB'S ANNUAL REPORT FOR 2024. 77

Note: Advance written questions and additional questions by WTO Members, and the replies provided by Nigeria are reproduced in document _WT/TPR/M/462/Add.1 and will be available online at http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm.

1  INTRODUCTORY REMARKS BY THE CHAIRPERSON

1.1.  The sixth Trade Policy Review of Nigeria was held on 13 and 15 November 2024. Following the Rules and Procedures of the Trade Policy Review Body (TPRB), H.E. Mr Petter Ølberg (Norway), in his capacity as Chair of the General Council, chaired the meeting on behalf of the current Chairperson of the TPRB, H.E. Dr Adamu Mohammed Abdulhamid (Nigeria).

1.2.  The Chairperson welcomed the delegation of Nigeria, headed by H.E. Ambassador Nura Abba Rimi, Permanent Secretary of the Federal Ministry of Industry, Trade and Investment; H.E. Ambassador Dr Adamu Mohammed Abdulhamid, Permanent Representative of Nigeria to the WTO; the rest of the delegation; and the discussant, H.E. Dr Athaliah Lesiba Molokomme (Botswana).

1.3.  The Chairperson called Members' attention to the presence of the participants of the Advanced Trade Policy Course (ATPC), who were very interested in attending the Review meeting.

1.4.  The Chairperson was pleased that, in addition to physical presence, the meeting also benefited from the Interprefy online connection, allowing for a wider participation of the Membership.

1.5.  The Chairperson recalled the purpose of TPRs and the main elements of procedures for the meeting. The Report by Nigeria is contained in document _WT/TPR/G/462, and that of the WTO Secretariat in document _WT/TPR/S/462.

1.6.  Questions by the following delegations were submitted in writing before the deadline: Iceland; Viet Nam; Hong Kong, China; China; Chinese Taipei; Australia; the Kingdom of Saudi Arabia; Colombia; the United States; Thailand; Canada; Norway; New Zealand; the Republic of Korea; Japan; Pakistan; Argentina; the United Kingdom; the European Union; Ukraine; and Chile. The following delegations submitted written questions after the deadline: Brazil, Singapore and Jamaica.

HIGHLIGHT OF KEY ISSUES BY THE CHAIRPERSON

1.7.  Turning to the substance, let me recall some elements of Nigeria's previous Review and developments since then. In doing so, I will also seek to identify some key issues arising from Members' advance written questions for this TPR.

1.8.  During Nigeria's previous Review in 2017, Members welcomed Nigeria's plan aimed at sustained inclusive growth through structural transformation and diversification of the economy, particularly in the manufacturing sector and the digital economy. Members were also of the view that further structural reforms aimed at improving the business environment as well as a fully floating foreign exchange rate regime would help to attract investment for the diversification of the economy.

1.9.  I was pleased to learn that since its last Review, Nigeria has taken steps to implement a simplified floating and market-driven foreign exchange mechanism. Nigeria has also removed restrictions on accessing foreign exchange at official exchange rates for the import of 43 groups of commodities, which affected more than 900 tariff lines.

1.10.  Through their advance written questions for the current Review, Members have sought information on issues relating to incentives and subsidies granted under various economic support programmes that often aim at diversifying production away from the oil sector and to modernize Nigeria's economy. The questions also demonstrate strong interest in sectoral initiatives especially in the financial sector, agriculture, energy, telecommunications, and e-commerce, as well as policies affecting the participation of women in the economy and in trade. Members also posed questions on Nigeria's efforts to improve conditions for foreign investors and business travellers.

1.11.  At the time of the previous Review, Members commended Nigeria on its active participation in the WTO, including the ratification of the WTO Trade Facilitation Agreement (TFA), and for having accepted the Protocol amending the TRIPS Agreement. In their advance written question for this Review, Members raised in particular questions concerning outstanding notifications, including regarding agricultural domestic support and export subsidies, state-owned enterprises, technical regulations, and regional trade agreements such as the African Continental Free Trade Area (AfCFTA) and trade agreements with countries outside the continent.

1.12.  At the time of the previous Review, Members also encouraged Nigeria to further address shortcomings in some trade policy areas. These included to align Nigeria's tariff with the ECOWAS common external tariff; to improve the predictability of its tariff regime by increasing its binding coverage and lowering its high bound rates; and to eliminate numerous additional duties and charges on imports. Most of these issues are raised again in the advance written questions for this Review, with Members in addition raising questions regarding market access restrictions for several agricultural commodities and other goods, and how exemptions to such restrictions are granted.

1.13.  Other questions raised for this Review include those related to border procedures, the acceptance of test results from accredited foreign laboratories, intellectual property rights, changes to the legal framework for trade remedies, and some sectoral policies.

1.14.  For this Review, Nigeria has received 460 advance written questions from 26 delegations. Of these, 389 were sent within the established deadline. Prior to this meeting, Nigeria provided written replies to most of the questions submitted within the established deadline. I look forward to receiving Nigeria's replies to other questions raised today or at our meeting on Friday. Any follow-up questions must be answered within one month.

1.15.  This meeting will be a good opportunity for Members to discuss in greater detail issues of interest to them and of systemic importance to the multilateral trading system. It is also an opportune moment for Nigeria to update Members on how it plans to deepen its efforts to make trade a greater force for diversification, sustainability, inclusion, prosperity, transparency, and equity. I look forward to a fruitful exchange.