WT/TPR/M/356  
13 October  2017 
(17-5481) Page: 1/62 
Trade Policy Review Body  
13 and 15 June 2017   
 
  TRADE POLICY REVIEW  
NIGERIA  
MINUTES OF THE MEETING  
Chairperson: H.E. Mr Juan Carlos Gonzalez  (Colombia)  
CONTENTS  
 
1  INTRODUCTORY REMARKS  BY THE CHAIRPERSON  ................................ .......................  2 
2  OPENING STATEMENT BY  THE REPRESE NTATIVE OF NIGERIA  ................................ ..... 4 
3  STATEMENT BY THE DIS CUSSANT  ................................ ................................ ..............  11 
4  STATEMENTS  BY MEMBERS  ................................ ................................ ........................  15 
5  REPLIES BY THE REPRE SENTATIVE OF NIGERIA  AND ADDITIONAL COMME NTS ........  53 
6  CONCLUDING REMARKS B Y THE CHAIRPERSON  ................................ .........................  60 
7  ADOPTION OF THE REVI SED RULES OF PROCEDU RE FOR TPRB MEETINGS  ................  62 
 
 
Note: Advance written questions and additional questions by WTO Membe rs, and the replies 
provided by Nigeria  are reproduced in document WT/TPR/M/ 356/Add.1  and will be available online 
at http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm.  WT/TPR/M/356 • Nigeria  
 
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  1  INTRODUCTORY REMARKS  BY THE CHAIRPERSON  
1.1.  The fifth Trade Policy Review of Nigeria was held on 13 and 15 June 2017. The Chairperso n, 
H.E. Mr. Juan Carlos Gonzalez  (Colombia) welcomed the delegation of Nigeria headed by 
Ambassador Chiedu Osakwe, Trade Advisor, Ministry of Trade Industry and Investment of Nigeria ; 
the rest of his team, com ing from both Abuja and the Mission in Geneva; and the discussant, 
Ambassador Yee Woan Tan (Singapore).  
1.2.  The Chairperson also gave a warm welcome to anot her important group of guests. Sitting at 
the back of the room were government officials of WTO Members and Observer Governments who 
were participating in a Geneva -based Tra de Policy Course organiz ed by the Institute for Training 
and Technical Cooperation of the WTO Secretariat, as part of its Trade -related Technical Assistance 
activities. Attendance at WTO meetings (including TPR meetings) had been an integral part of 
these courses, and the Chairperson  hoped their guests would  find this meeting useful.  
1.3.  The Chairperson began the meeting by commenting on Item 2 of the agenda concerning the 
revision to the Rule s of Procedure for meetings of the TPRB following the results of the Sixth 
Appraisal of the Trade Policy Review Mechanism. He propose d taking up this item on Thursday 
morning 15 June, after the conclusion of the Trade Policy Review of Nigeria.  
1.4.  The Chairper son recalled the purpose of the Trade Policy Reviews and the main elements of 
the procedures for the meeting. The report by Nigeria was contained in document WT/TPR/G/356 
and that of the WTO Secretariat in WT/TPR/S/356.  
1.5.  Questions by the following delegatio ns had been submitted in writing before the deadline: 
Canada; Brazil; United States; Chinese Taipei; China; Iceland; Japan; Chile; Australia; Argentina; 
New Zealand; European Union; Norway; Republic of Korea; and Singapore. The following 
delegations submit ted written questions after the deadline: Colombia; Rwanda; Oman; Costa Rica; 
Thailand; Kenya; Egypt; and Indonesia.  
1.6.  At its last TPR, Members  had commended Nigeria on its robust and broad -based economic 
growth, and had recognized its efforts towards the di versification of its economy and its regulatory 
reforms. Six years o n, Nigeria had  become the 26th largest economy in the world and the biggest 
in Africa. Indeed, its economy had grown by almost 90% as a result of the 2014 rebasing exercise. 
According to t he authorities, this exercise had consisted of the re -estimation of contributions from 
certain sectors such as telecommunications, entertainment, and retail which had previously not 
been captured or had been underreported; it had also been estimated that t he informal sector 
accounted for 44% of GDP.  
1.7.  Nigeria was the leading oil exporter in the continent, with the largest gas reserves. 
Nevertheless, since the third quarter of 2014, the  sharp decline in oil prices had  posed major 
challenges to the economy, wh ose rate of growth had significantly slowed down to 2.7% in 2015. 
The Nigerian economy had gone further into recession in 2016 with a growth rate of -1.5%. 
Overall, the economic slowdown and the various m easures taken to address it had  more 
significantly r educed exports than imports, and the imp ortance of trade for Nigeria had  decreased 
as a percentage of its GDP from 5 2.8% in 2011 to 21.1% in 2015. According to the Secretariat 
report, other factors contributing to slower economic growth were related to the  business 
environment, such as unreliable and expensive electricity supply, and governance issues, including 
in the oil sector.  
1.8.  In April 2017, the G overnment  had embarked on the 2017 -2020 Economic Recovery and 
Growth Plan (ERGP). This ERGP aimed  at sustai ned inclusive growth through a structural economic 
transformation of Nigeria with an emphasis on the improvement of both the public and private 
sector efficiency.  
1.9.  Members wished  to know more about the ERGP and its main components, including Nigeria 's 
plans for developing its digital economy and e -commerce.  
1.10.   On Nigeria 's trade regime, most of the concerns raised by Members during the last TPR 
remain ed to be addressed; they were also reflected in the questions posed by Members in the 
current review. For inst ance, Members, during the previous and current TPRs, had raised concerns WT/TPR/M/356 • Nigeria  
 
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  about the lack of transparency in the implementation of laws and regulations on, inter alia , 
customs rules and procedures; and about the large number of important pieces of legislatio n still 
at the draft stage or pending adoption by the National Assembly. Moreover, Members had also 
highlighted during the previous TPR that certain measures taken by Nigeria had not been 
compatible with its WTO commitments, such as import prohibitions and  restrictions and the local 
content requirement under the Nigerian Content Development Act, which had discriminated 
against foreign suppliers of goods and services i n the oil and gas sector.  
1.11.   Since the 2011 re view, the prohibition lists had  been enlarged an d Members were interested 
in the reasons behind Nigeria 's policy to maintain two import prohibition lists, as well as Nigeria 's 
import ban on 41 categories of goods for which access to foreign exchange from the C entral Bank 
of Nigeria (CBN) had  not been al lowed since 2015; and its various other restrictions on imports.  
1.12.   As a member of ECOWAS, Nigeria had  been applying the five -band Common External Tariff 
(CET) since April 2015, although with a certain flexibility. Nigeria 's average applied MFN tariff rate 
had increased to 12.7% in 2017 up from 11.9% in 2011. Its bound tariff rates average d 117.3% 
and the  tariff binding coverage remained  low at 19.2% of total lines. Even though the average 
applied tariff rate was low, the bound rates were high and the binding  coverage was low; this left 
ample margins for tariff changes, thus rendering the tariff regime less predictable. Moreover, a 
myriad of additional duties and taxes were charged on imports that were of export interest to 
some Members. These concerns had already been expressed at the time of the previous review.  
1.13.   Other developments in trade policy instruments highlighted in the advance questions 
include d: notification requirements, local content requirements, investment incentives, SPS 
measures, technical barr iers to trade, customs valuation, government procurement, and the 
protection of intellectual property rights.  
1.14.   Regarding sectoral policies, during the period under review, Nigeria had adopted the 
Agricultural Transformation Agenda (ATA) and the Agricultura l Promotion Policy (2016 -2020) with 
a view to transform agriculture from a development -oriented to an agribusiness -focused industry 
based on integrated value chains. Members wished  to learn more about the different price support 
policies and incentives tha t were available to farmers to increase domestic production of certain 
commodities. Regarding oil and gas, Members had welcomed Nigeria 's recent efforts to remove 
subsidies on fossil fuels but wished  to have further clarifications regarding the proposed ne w legal 
framework for the sector and for the investment regime in general.  
1.15.   The Chairperson hoped this TPR would  provide a good opportunity for the Nigerian 
delegation to further enlighten Members on its trade regime and on the way it envisa ged 
address ing their concerns.  WT/TPR/M/356 • Nigeria  
 
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  2  OPENING STATEMENT BY  THE REPRESENTATIVE O F NIGERIA (H.E. MR. CHIEDU 
OSAKWE ) 
2.1.  Thank you very much indeed Juan Carlos, thank you chairman for convening this meeting 
and it is very good to see so many friends and colleagues. On behalf of the Nigerian delegation, I 'd 
like to thank you all for coming, it looks like a full room and chairman, at the very beginning, 
thank you very much for the assessment that you made since the last policy review of Nigeria. It is 
a fair assessment. It is a balance d assessment. And it is also the reason that we are here. The 
Nigerian delegation is not here in a defensive mode. We 've come here to engage with Members 
because we think that a Trade Policy Review exercise is a very constructive and a very healthy 
exercis e and we would like and certainly wish to see more of it not less of it. Frankly, we don 't 
think that the intervals of six or seven years are ideal for a developing economy like Nigeria. The 
less the intervals the better. And so, on behalf of the delegatio n of Nigeria we would like to thank 
you all for coming and the Nigerian delegation in particular, I would like to say that we have the 
full comple ment of ministries , agencies , and government departments that should be presen t here. 
I would like to recogniz e in particular the new Nigerian ambassador to the United Nations and 
other organiz ations, Ambassador Kadiri Audu who is the red capped chief in front of us . I would 
also like to acknowledge my friend Suleman Audu who is currently heading  the work of Niger ia to 
the WTO, t he many friends of mine on the Nigerian delegation  - I cannot name them all, but I 
would like to let Members know that we have the Head of the Nigerian Investment Promotion 
Commission, Yewande Sadiku who is  actually one of Africa 's leading investment banker s and has 
taken a huge haircut to join the Governmen t and pursue the work of reform - and my friend 
Oyeyemi Kale who is  Nigeria 's Statistician G eneral. We had been fiddling with statistics back and 
forth in Nigeria but he has done a huge a mount of work to put the Nigerian statistical complement 
on its foundation. In Nigeria they joke with him, they say that he is the guy who undertook with 
the IMF and the World Bank the rebas ing of the Nigerian economy to make it the largest economy 
on the continent and the 26th largest in the world but he is also the guy who put Nigeria back into 
recession, so he has a formidable reputation for the good and the bad. But hopefully he will 
continue with his work and he has separated himself from the politicia ns so that  is very good. Let 
me read a script. I 'm not used to reading but I have been told by the delegation that I have to 
read this to be sure that everything I said is according to the religion of it. So as we start, well 
beyond this delegation, the Fe deral Government of Nigeria (FGN) would like to pay tribute to WT O 
Director -General Roberto Azevê do for his strong leadership of our Organization, and for steering 
the WTO in the right direction, particularly in a period of challenge, uncertainty and fragi lity in the 
global economy. The Nigerian position with regard to the WTO is that what happens i n the WTO 
and what the WTO does  matters, massively , because the WTO remains an indispensable public 
good, a major player for global economic governance and the p rimary forum for international 
trade. Director -General Azevê do, his Top and Senior Management continue to enjoy the confidence 
and support of the FGN.   
2.2.  Nigeria is honoured and grateful, and for me particularly so, that Ambassador Yee Woan, 
Permanent Repre sentative of Singapore to the WTO, is the discussant for Nigeria 's Trade Policy 
Review. We need to be clear as Nigerians that the standards, achievements and example of 
Singapore in the global economy  reflect best practices. These are the standards to whic h Nigeria 
would like to aspire. Yee Woan and I go back , we were here  in the WTO , in the GATT in the 1990s 
and so we know each other well. I have the honour of sitting next to one of the most technically 
solid WTO ambassadors.    
2.3.  For the record, the lea der of the Nigerian delegation should have been the M inister of 
Industry , Trade and Investment but he has a more important job - he is representing Nigeria 's 
President in Berlin at the G20 engagement  outreach with Africa convened by Chancellor Merkel . So 
I'm standing in for him but the words of the statement are mine and he can disown them 
whenever he likes.  
2.4.  On a person al note, again as I said, I am very happy to see old friend s of Nigeria who are 
gathered here. We know that it is the reason you 're gathered he re, to support Nigeria and to 
continue to work with it. We consider that the Trade Policy Review exercise is very healthy, is very 
constructive and this is the reason why we have come here to engage with you.   
2.5.  The moment of this Trade Policy Review  for Ni geria is very timely and this is by pure 
coincidence. We are not here for a ritual that happens every six to seven years , nor are we here 
defensively . The reason is that we are here to engage and to signal that there must be no WT/TPR/M/356 • Nigeria  
 
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  ambiguity about the directio n in which Nigeria is headed. We, the Nigerians, are approaching this 
Trade Policy Review as Acceding Governments approach the domestic economic and trade policy 
reforms associated with the WTO accession process. I keep saying in a previous life to accedin g 
governments and to article twelve Members that they don 't actually know how lucky they are. 
They don 't know how lucky they are that there is a system here in the WTO that makes them go 
through a process of domestic reforms. They come out better , they com e out stronger, more 
resilient. And I 'm glad to see my friend the Ambassador of Montenegro. I hope that when you take 
the floor you will confirm everything that I have said , including Russia, including China and 
including the thirty -something Governments t hat have gone through the accession process. 
Countries that have not gone through the accession process in the WTO do not know how 
unfortunate they are and you can attribute this quotation to me "reforms make you stronger, they 
don't make you weaker ".   
2.6.  Let me paint a picture for you. It is a very short picture but I think it would set the context 
for this Trade Policy Review of Nigeria. In 2014, Nigeria suffered, painfully, an exogenous shock 
trigger ed by the end of the Commodity S upercycle. This was cause d by the collapse of oil prices, 
which resulted in the 60% loss of external receipts for Nigeria and there was strong negative 
effects for the BOP and external reserves. The exogenous shock, combined with endogenous 
shocks from unsustainable subsidies to t he oil sector  to which Juan Carlos referred , corruption (on 
a massive scale in our country) and also from serious governance weaknesses. The net effect of all 
this was that the bottom fell out with the slide into recession in 2016. The clear signals that w ere 
transmitted by the market to Nigeria were that you must reform  if you don 't reform you will 
decline. Nigerians chose the former. This was the context in which Mr. Buhari was elected as 
President of the Federal Republic of Nigeria in 2015, to implement an agenda for change, reform 
and transformation to diversify and modernize the largest economy on the African continent. In 
Nigeria, there are no illusions about the magnitude and scale of the challenge, but the Nigerian 
delegation here confirms that the b usiness of change and reform is strongly underway. We also 
confirm that President Buhari and Vice President Yemi Osinbajo shall not be deterred from the goal 
of implementation of a domestic agenda for economic and trade policy reform and structural 
change.  And the delegation is pleased to report that reforms are underway generating positive 
results in improved processes, sound policies, re -structuring and institution building.   
2.7.  One of the points I would like to place on the table for you is that the Nigerian delegation that 
is here is  a Team of Reformers in Government. Please repo rt this back to your capitals. The 
delegation before you is not a bunch of bureaucrats  because Nigeria considers that this Trade 
Policy Review is not only necessary, but provides a n opportunity to communicate the changes 
underway in Nigeria 's economic and trade policy direction. I can say to you that many of my 
colleagues and friends here in the Nigerian delegation , and I'm going to give the example of 
Yewande, are either folks who have taken a massive hair cut in salary or who have been 
approached to be poached by many international organizations to work for them but they have 
politely declined the request. The message is simple and we hope it goes back to the capitals of 
not just of  other African countries but other developing countries. Development - getting it going - 
and transforming out of poverty and development to more sophisticated levels will involve those 
developing country citizens in the diaspora and the Africans in the diaspora to go home and put 
the experiences and the intelligence and what they have acquired to good use. Salvation will not 
come from the outside. This is not a nativist comment. It is about the importance of expertise, 
specialization and experience, puttin g it to good use to where we should put it. The real struggle is 
not actually here or at the bank or at the fund. The real struggle , the crucible,  of what needs to be 
changed and done and undoing the bad things that have been done in terms of  unsound  policies 
are in our countries. I think we need to be upfront about it. We do want to use this opportunity to 
communicate this into trade policy direction. Nigeria is also hopeful that WTO Members in this 
Trade Policy Review Board will use this exercise as an op portunity to support, not to criticize or 
impugn or undermine or treat with triviality, but to support Nigeria 's serious and far -reaching 
domestic policy reforms which are on -going. Nigeria sees this Fifth Trade Policy Review exercise as 
one of the effecti ve instruments for building a stronger win -win partnership with its trading 
partners and a platform for modernizing and updating Nigeria 's trade integration in a fast -paced 
21st Century economy that is actually global.   
2.8.  These reforms in Nigeria are far -reaching, I can tell you that. It is a daily struggle, it is a daily 
march. You won 't get this from Harvard business school believe me, you only get this where it is 
happening. They are work in progress. The macroeconomic setting is the Economic Recovery and  
Growth Plan (ERGP) launched on 5th April 2017 by President Buhari. Details are in the WT/TPR/M/356 • Nigeria  
 
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  Government of Nigeria report. The plan sets the foundation for the transformation, diversification 
and competitiveness of the Nigerian economy, and let's be clear, on th e basis of a market 
economy, driven by the private sector and with public -private partnersh ips, where they are 
necessary, particularly in the areas of infrastructure and public utilities. There are five parts in the 
plan. I am not going to elaborate on thi s because these parts are elaborated both in the Nigerian 
Government report and in the expert and high -quality Secretariat report. There are a gricultural 
and transformation for food security. We need to use the opportunity of the Nigerian TPR to say 
that f ood security is critical. Let 's not leave any doubt about that. Economies that are not able to 
feed their own people don 't qualify as sovereign entities. Dealing with food security is not 
something that should be trivialised so agriculture and food securit y are number one. In our 
countries you don 't want to be in a situation you had prior to the French revolution where the 
great empress said well if they don 't have bread why don 't you give them cake. The cake isn 't 
there, the bread isn 't there. It 's a quest ion of the gruel for the basic  feed. Secondly,  energy 
sufficiency in power and petroleum products; transportation infrastructure; industrialization, and 
we can talk about this ad nauseam , especially with  focus on SMEs, and, of course,  stabilizing the 
macro economic environment.  
2.9.  I just want to spotlight a few a reas. Under P resident Buhari 's Administration there are 
important lessons that we have learned. I 've only been assigned to work with the Government in 
the past twelve months but there are important les sons that we have learnt. I think that it may be 
of use t o other Members here in the TPR  to know the areas that we are working on:   
 coherence in economic policy making;  
 trade policy and negotiations:  how do you use it and so that is not just a glib expres sion at 
meeting rooms of the WTO ; 
 Ease of Doin g Business: I s the WTO Trade Facilitation agreement just for conference rooms ? 
Is it just a star that we wear on our shoulde rs that we were able to deliver  this? Does it 
matter?  
 industrial policy that has made a massive resurgence in the developed economies;  
 the digital economy : why should we not evade it ?;  
 investment policy; and   
 domestic resource mobilization (tax policy).   
2.10.   Just a couple of sentences on each and then we will bring this to a conclusion so tha t we can 
enter into a good, I hope , happy rugby scrummage with you.  
Coherence  
2.11.    We have learnt an important lesson on coherence. If there is a coordination deficit in 
domestic economic policy -making, there is a very high risk for growth and development. The  
absence of coordination, the deficit in coherence between fiscal, monetary and structural reform, 
in which we put trade policy, has carried a huge cost for the Nigerian econo my which has now 
been remedied. Part of the questions that we have to answer here  are questions that have arisen 
as the result of a right -hand left -hand problem. But the reforms to address this are underway. 
They are  systematic and institutional. The G overnment is introducing systematically institutional 
coherence into fiscal, monetary  and structural reform policies. The purpose of this is to restore 
market confidence and to generate robust and sustained growth, and take account of WTO  
consistency questions and then  be mindful of the effects of what Nigeria does, and this is part of 
the message that we will take back, the message that you , Juan Carlos , gave. You have reminded 
the Nigerian delegation that Nigeria is the 26th largest economy in the world and that is not a 
boast to be pinned on anyone 's shoulders. That 's a message about res ponsibility. When you are 
that big, you carry a lot of obligations. So , we will be mindful about the effects of our policies 
domestically but also in the region in ECOWAS, in the continent and in the larger global economy. 
Now, the coherence objective is b eing implemented in the Economic Management Team (EMT) 
chaired by Nigeria 's very cerebral Vice President, P rofessor Yemi Osinbajo, who is currently also WT/TPR/M/356 • Nigeria  
 
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  the acting Pre sident of Nigeria and with the M inisters involved in economic policy making. These 
econom ic management team meetings take place every week. Some of my friends and colleagues 
here are part of that economic team as technical advisers. Me, as the technical adviser on trade to 
the EMT , Sadiku was technical adviser on investment to the EMT, and my brother, Yemi Kale, is 
technical adviser in his capacity as Nigeria 's Statistician G eneral. So we give them advice. We are 
out of the politics but we tell them you can 't do this, you can do this, this is good, do more of this, 
and so that is how it works a nd that is how we are trying to bring coherence into the Government. 
Back to my accession experience, I wish acceding Governments knew how lucky they were to have 
the WTO help them and show coherence.  
Trade Policy and Negotiations  
2.12.   I've done trade for too long. Perhaps for far too long. It is very cerebral, it can become 
academic and it can be out there in stratosphere. People sometimes are not able to download 
trade policy and negotiations and actually understand how it works in generating growth, but we 
mutter the chant, the refrain and the song: trade is an engine for growth, trade and investment 
are inseparable. But how does it really wo rk? What we are doing in Nigeri a is that the ERGP 
identifies trade policy as an engine for c ompetitiveness and growth. The Statistician G eneral has 
helped the Economic Management Team and the broader constituency understand that over 
thirteen million jobs, in terms of the entirety of trade, wholesale trade in Nigeria,  are dependent 
on trade. Specifically for imports and ex ports, 1.2 million jobs are dependent on trade. 19% of 
Nigeria 's GDP is accounted for by trade second only to agriculture at 26%. So, there is a greater 
understanding that trade is not just for the outsiders. It 's not out there in the stratosphere. It is 
something that is real, that creates jobs and expands opportunities. Related to this is that Nigeria 
is engage d in several negotiations. Some  on the threshold , others are being opened and the 
objective is to use them for market access expansion for growth i n the economy.  
2.13.   I should report to you that on the 10th of May, the Nigerian Cabinet , that is the President 
and its Ministers , approved the establishment of a new institution - the "Nigerian Office for Trade 
Negotiations " (NOTN). We have never had it befor e. It is going to be modelled on some of the 
trade offices that you see in the most sophisticated economies. It shall be headed by an 
Ambassador with a title of Trade Adviser to the President and the Chief Negotiator for Nigeria. That 
office is in the proc ess of being set -up. And so, Nigeria will be consulting several of you who have 
good experience here as this office is being set -up. A couple of words that may be of interest to 
you with regard to negotiations. In Africa, there are the negotiations for the  Continental Free 
Trade Area  for the continent, the CFTA. The purpose is simple: to create an integrated market for 
goods and services on the continent. The objective, the timeline is to complete  it this year . The 
CFTA was actually declared in 2012, actual ly launched in Johannesburg in 2015 but the actual 
negotiations began in 2016. I was in Niamey a couple of days ago (Niger), Nigeria has just been 
elected to chair the negotiating forum for the continental free trade area for Africa. It is serious 
business . We have just agreed to modalities for trade in goods and services. In the 277 questions 
that we got from you the Members, we know that a couple of questions are on the CFTA and we 
can take that up in the conversation. But it is serious business, so the A frican mammoth  is 
beginning to turn its attention to the reality and the mechanics, and the toughness of trade 
negotiations and to use it as an engine for growth. And I say this one because Nigeria is leading 
the process, and secondly because I think that the support of the WTO Members would be needed.  
2.14.   The final element on trade:  we know the range of Members ' concerns since the last review ; 
Juan Carlos mentioned a couple of them, including the items on the import prohibition list, we shall 
address them. Bu t the measures that are being taken by the Government are to reduce that list. 
That list is being reduced and we have the facts and the figures and the details. Part of what was 
on that list was if you have an exogenous shock in which you lose 60% of your export receipts, 
something really massive has to give. You don 't have an ideal foreign exchange policy. I don 't 
know about ideal foreign exchange policies. But this is less than ideal, because there was a shock. 
But it is being addressed and there are, to use the language of the IMF, several UMPs 
(unconventional monetary policies ) but gradual ly they are being unwound.  
Ease of Doing Business and Trade Facilitation  
2.15.   The Presidential initiative on the Ease of Doing Business is the signature statement and test 
of President Buhari 's Administration to tackle the institutional and systemic challenges of doing 
business in Nigeria. With Cabinet Ministers and Agency Heads, the Administration is determined WT/TPR/M/356 • Nigeria  
 
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  that it shall not be business as usual in Nigeria. The President ial Enabling Business Environment 
Council is chaired by the Vice President Professor Osinbajo and Dr. Oduwole who is Secretary of 
the PEBEC, who is not here but her representative from the office of the Vice -President is here 
pushing very hard on it. The S ecretariat of the enabling business environment is housed in the 
Nigerian Investment Promotion Commission, headed by Ms Yewande Sadiku, who is here with us 
today. They are reform champions. They have been recruited, they have been told that their job is 
to be reform champions, not to be bureaucrats and not to push papers and take three, four, five, 
six months to reply a letter, but to act as if they really care d for what they are working for and to 
make it count. There is real work that is under way and ther e are five aspects to the ease of doing 
business: transparency; default approvals. And so now, if you go to register your business in 
Nigeria, no one can string you around on a rope "it hasn 't been approved, it hasn 't been approved, 
it hasn 't been approved ", and we have someone here from the Office of the Vice President . If it is 
not approved in seven days it stands approved and then it is the problem of the government 
agency to explain why they didn 't do it. And I should say we are getting a lot of help fr om the 
Georgians, the former Georgian Prime Minister is a consultant for Nigeria, because the Georgians 
did some really smashing work on Trade Facilitation and Ease of doing business. So, he is advising 
the Government on that. One Government, and then we a re dealing with the questions of entry 
and exit into Nigeria; and, there will be expedited Port Operations. A ll these reforms were 
institutionalized. Nigeria is also using very aggressively executive  orders. Executive Order 
number  01 was signed by the acti ng President, Professor Osinbajo on the Ease of Doing Business. 
There shall be sanctions, punishment for Nigerian civil servants who don 't implement what they 
are supposed to do, based on the executive order. Let us shed stereotypes. This is the key. Let u s 
shed the stereotype about Nigeria being a hard place to do business. Once upon a time it was. 
Now it isn 't. One of the most difficult thing s to deal with is stereotypes because they can hang 
around for ever. They really can hang around for ever. So, part  of what we are hoping will be the 
message that comes out of this Trade Policy Review is for you to help communicate the message 
to dispense with the stereotype and say that the Nigerian situation is significantly improving across 
a range of areas and this  is all evidence based. As you know, we also ratified and are an original 
member of the TFA. We have notified the category A commitments, t he category B & C 
Commitments were recently communicated, notified to the WTO Secretariat in the past couple of 
days and are now being processed by the Secretariat for circulation to the Members.  
Industrial Policy  
2.16.   If you can 't make things, if you can 't make stuff, tables, chairs, frying pans,  electric bulbs,  if 
you can 't create value, you can 't employ people. So , there i s a place for Industrial Policy. We have 
been watching very carefully the resurgence of Industrial Policy in the most sophisticated 
economies in the world. But it has to be the right Industrial Policy. It has to be the Industrial Policy 
that is geared or l inked to innovation, creativity and enterprise, where there is ease of entry into 
the market and ease of exit for those that fail.  
2.17.    Last May 30th, the "Nigerian Industrial Policy and Competitiveness Advisory Council " was 
inaugurated by the acting Vice Pre sident, with a huge component from the Nigerian private sector. 
Also, to underscore this industrial policy, you would have seen in the Government of Nigeria report 
and also in the Secretariat report, the six industrial zones that have been created. So you know 
exactly what we are doing. We are doing this by the book. Nigeria is working with the former chief 
economist of the World Bank to move on these six industrial zones. There have been questions 
that have been asked and I have seen all of them in the 200 , approximately 300 questions we 
have. Listen, let us be clear about this, in a country like Nigeria, 180 million people, you have the 
classical problem of economics that manifest s itself, namely, you have infinite demand and you 
have a finite supply of re sources. Something has to give. You can 't do everything all at the same 
time and satisfy everyone. But even in the most sophisticated economies that is also not the 
situation. And so, the Nigerian Government is working to implement these six industrial zon es 
because the problem of infinite demands and finite resources has to be resolved somehow. This is 
the reason for the digital economy.   
The digital economy  
2.18.   The 21st Century is de fined by the digital economy. We harbour no illusions about its 
challenges a nd complexities, but we are committed to working to harvest its opportunities. Nigeria 
believes that being defensive or evasive about the digital economy, frankly is foolish. It is not an 
option. A Smart Nigeria Digital Economy Project is under advanced po licy development. The key WT/TPR/M/356 • Nigeria  
 
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  policy components have been identified in the questions from Members already answered. They 
range across a 100% b roadband coverage of Nigeria; e -commerce development by supporting the 
operators in the real sector; using technology  to create a platform for the integration of Small and 
Medium  Enterprises into supply change ; development of digital payment i nfrastructures; 
capacity -building and training of software engineers and coders; e -government; digitizing data 
across sectors; cyb er security.  A lot of this work is underway. But it is a very exciting work. This is 
an area where the youth in Nigeria ran ahead of the Government. Before the Government could 
say Jack Robinson Nigerian coders and software developers were being poached by  the developed 
business counterpart s. The great man Mark Zuckerberg came to Nigeria last year. No one invited 
him, Nigeria was very happy to have him, but he wasn 't invited, not that that made him any less 
welcome, he was most welcome. He actually came to see what was happening on the Nigerian 
digital scene. It is accelerating. And you know the reason for this. This is just one sentence. It is a 
paradox. The youth simply in wanting to circumvent the challenges and the complexities of the 
Nigerian economy, a nd operating in Nigeria at the time, simply went into the digital stratosphere 
and they are operating at world class levels. Employment there is huge. Market opportunities are 
being expanded. And so now the Government, President Buhari, is doing the right thing by 
supporting them and creating an environment for them. Our message here is the digital economy 
matters. It is very important. It is a source of growth. And to that we add another message. Here 
in the WTO we need to modernize and update our agenda f or negotiations. And this is why you 
find that Nigeria is champ ioning this agenda in the WTO. As a member of the Friends of 
E-Commerce for Development (FEDs), we are co -sponsoring proposals including with Singapore  
and many other friends to move ahead on t his. Nigeria is positive and is looking very positively at 
the proposal by the European Union on online transactions, and we shall revert to that as soon as 
possible. The digital agenda should not be held hostage to other issues. Just  to be clear about it.  
Nigeria will push harder, not just at home but here in the WTO on what we consider to be at the 
forefront of the development agenda. And that is the internet economy and associated areas of 
work.  
Investment Policy  
2.19.   Trade and investment are two sides of th e same coin. They are inseparable in policy and 
practice. Fire away, machine gun her, the lady has lots of bullet proof vests, Ms Sadiku, on what 
she is doing in the agency with regard to investment: formidable. She will be working very closely 
with the Ni gerian office for trade negotiations . That is being set up. Nigeria is working to focus its 
investment promotion efforts not only to encourage wealthy Nigerians to invest in direct 
opportunities in their own country, but to target FDI from countries with w hich they actively trade.  
Domestic Resource Mobilization (tax policy)  
2.20.   Our finance Minister, I mean  a real class act: Kemi Adeosun, a t I think the two last meetings 
of the Economic Management Team, sh e put out data to show that the  tax-to-GDP ratio in Nige ria 
is 6%. It is the worst amongst all developing countries: India, South Africa, the average is about 
24, 25, 26% and other countries do much higher. You need to know that we understand, the 
Nigerians understand also what they have to deal with. The tax -to-GDP ratio  in Nigeria is very low 
at 6%. So, there is a programme, there is a policy, I fail to remember when it is coming int o effect 
but we have enough brain power  there that they will give you the details. Amnesty will be granted 
to those who are not c urrently paying tax but when that amnesty period is over, there are lots of 
wealthy Nigerians  that will have to start paying taxes. I was in a meeting that had been convened 
by my friend Madam Sadiku and she had invited Africa 's richest man Aliko Dangote. She convened 
that meeting because in her former life as a banker, Dangote was her client. So , I went to this 
meeting and Dangote was saying to a group of us: there are Nigerians with 200 aircrafts, very few 
paid taxes and if they paid their taxes and if th ose aircrafts, in a sense, were turned into 
productive assets, th e economy would get a boost.  
Conclusion  
2.21.   Let me conclude because I know I have been long in this but then it is too long to have this 
interval of six to seven years. I am n ot criticizing anyon e. I think that the intervals should be 
shorter. Let  me conclude by saying this: the context in Nigeria is one of reform, change and 
transformation. This is why Nigeria very much welcomes the engagement by Members which we 
consider very positive as reflect ed in the 270 questions from 24 Members. Nigeria kindly asks you 
please that you sustain this engagement and dialogue. And so we ask that you keep the questions WT/TPR/M/356 • Nigeria  
 
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  and comments coming, even well after this exercise. It will strengthen the Nige rian economy and  
it will ensure  our competitiveness. In Nigeria, President Buhari 's Government is strongly 
committed to building a modern welfare -enhancing economy that is integrated into the regional, 
continental and global economy. There are policy shifts that Nigeria d elayed for far -too long, which 
are now being corrected, at this t ime, through policy reforms, re structuring and institutional 
adjustments.   
2.22.   Nigeria seeks a win -win situation with all its WTO partners. The Government is 
implementing bold policy changes and  measures to ensure that it shall not be stuck in the past.  
2.23.   On 18 November 1960  (that is one month basically after independence) , Nigeria committed 
to the rules -based global economy by acceding to the GATT '47. In 1995, we became an original 
Member of the  WTO. This year, as you know, we are original Members of the TFA and the 
Amendment to the TRIPS Agreement.    
2.24.   So we want to see a WTO that is constantly updating, implementing its results from  Hong 
Kong to Bali to Nairobi. This is an indispensable Organiza tion. If it did not exist, economies would 
band together to create it.  
2.25.   We want to see a WTO that is forging ahead, in where trade would serve a development 
agenda: spurs growth, creates jobs, reduces poverty and, to quote the WTO Director -General, 
"does m ore than trade, contributes to peace, security and solidarity amongst countries ". This is 
Nigeria 's message at its Trade Policy Review. Work with Nigeria and you will not be disappointed. 
It is Africa 's largest economy, it is pulling out all the stops at t he moment and pumping on all 
pistons.  
2.26.   Before  I conclude, a couple of points:  I do wish to recognize  the former Deputy Minister of 
Justice  and head of the private sector called Nachima and also to thank very much director Willy 
Alfaro, Jacques Degbelo and M ena Hassan for the excellent work they undertook  in preparing for 
this review. We appreciate the work that you have done, manifesting what we have always 
recognized that the WTO Secretariat frankly is second to none amongst the international 
Organizations.  Apologies for a long statement but I am sure you did not expect any less after 
seven years. Thank you very much.  WT/TPR/M/356 • Nigeria  
 
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  3  STATEMENT BY THE DIS CUSSANT  
Introduction  
3.1.  I would like to warmly welcome the very impressive delegation of reform champions from 
Nigeria and I  would like to express a particular pleasure to see again a very dear and respected 
friend and colleague, Ambassador Chiedu Osakwe. I think this reflects the importance that Nigeria 
places on this TPR process and, for that, I thank you very much and I am d eeply honoured to be 
your discussant today.  
3.2.  Nigeria is the largest economy in Africa with a GDP of about ha lf a trillion US dollars.  It is also 
Africa's most populous country. Comprising more than 500 ethnic groups, 70 % of its estimated 
population of 200 m illion are below 30 years of age.  Nigeria is endow ed with vast natural 
resources.  Fuelled by high global oil prices, its economy enjoyed strong growth of about 7 % per 
year in the decade leading up to 2015. Situated in a volatile region, Nigeria has been gr appling 
with security concerns, includ ing those posed by Boko Haram. Other challenges to competitiveness 
include underdeveloped infrastructure, corruption and regulatory uncertainties.  
Developments since Nigeria 's last TPR in 2011  
3.3.  In 2016, Nigeria 's econo my was dominated by services which contributed about 60 % to its 
GDP. Agriculture contributed about 20 % to GDP. The Nigerian economy continues to be highl y 
dependent on the oil sector. While contributing 10 % to the GDP, it accounted for over 90 % of 
exports and 80 % of government revenue.1 Following the sharp decline in global oil prices in 2014, 
Nigeria 's economic growth slowed in 201 5 and was in recession in 2016.  Its current account 
deficit, merchandise exports and foreign direct investment were also negati vely affected.   
Trade Policies by sector  
Services  
3.4.  I will now highlight some of the key sectors in its economy.  The services sector has grown 
steadily from 49.9 % of GDP in 2011 to 61 % of GDP in 2016.  In terms of financial services , 
Nigeria is lar gely a cas h-dependent economy. There is therefore potential for growth, including in 
the insurance market which currently has a low penetration rate.  
3.5.  The Secretariat 's report says that Nigeria 's transportation  matrix is one of the best in West 
Africa and contribute s about 3 % to GDP annually.  
3.6.  For telecommunications services , Nigeria has A frica's largest mobile market. The 
telecommunications sector has grown and benefited from increased competi tion during the review 
period. There is currently consideration of a new 9 % tax on telecoms services to be borne by 
mobile users.  
3.7.  The entertainment  industry has emerged as a significant services sector with Nigeria 's film 
industry or Nollywood being the third largest in the world after Hollywood and Bollywood. 
However, high pira cy rate is resulting in loss of potential revenue.  
3.8.  The tourism  industry has also increased with the number of visitors doubling from 2011 to 
2015. The potential of this industry could be further enhanced by better infrastructure and 
facilities. 
Agricultur e 
3.9.  Agriculture 's share of the GDP was 21.2 % in 2016 and over 60 % of the population depend ed 
on farming as a livelihood. For the past four decades, the agricultur al sector has been in decline. 
Nigeria is a net importer of agricultural goods and depends on im ports to meet domestic demand 
for food.  
                                                
1 Paragraph 1.5 of the r eport by Nigeria (WT/TPR/G/356).  WT/TPR/M/356 • Nigeria  
 
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  3.10.   There have been major reforms since the last review. The most recent example is the 
Agricultural Promotion Policy adopted in 2016 which focused on food security, import substitution, 
job creation  and economic divers ification. The G overnment has also implemented measures such 
as incentives for domestic production of certain agricultural commodities as well as import 
prohibitions and restrictions on agricultural products such as a ba n on imports of rice. In 
connection with this TPR, written questions have been raised as to the WTO -consistency of some 
of these measures.  
Oil and gas  
3.11.   Nigeria is the world 's sixth largest oil producer and fourth largest exporter of liquefied 
natural gas. As already mentioned, its economy is highly dependent on oil and gas.  The difficulties 
encountered in this sector include high costs of extraction, aging infrastr ucture, and security 
problems. Investors in the oil and gas sector are also subjected to a number of taxes, charges and 
local conte nt requirements.  Despite its wealth of oil and gas, Nigeria has a low rate of net 
electricity generation per capita, periodic fuel shortages, and imports most of i ts refined petroleum 
products. While seeking to improve the efficiency and value -added of thi s important sector, there 
is room for further broadening and diversification of Nigeria 's econo mic base into non -oil sectors.  
3.12.   The decline in oil prices in recent years has significantly affected Nigeria 's economy . It is 
commenda ble that Nigeria had seized the opportunity in 2016 to remove its costly fuel subsidy 
programme which was US$8 billion in 2011.  
Manufacturing  
3.13.   The manufacturing sector 's share of GDP grew from 6 % in 2010 to 8.8 % in 2016. Nigeria is 
a net importer of manufactured goods.  It is trying t o diversify its economy away from oil by 
building a com petitive manufacturing sector. Challenges include improving on infrastructure, 
supply of electricity and access to credit, as well as how to cope with competition from smuggled 
imports.  
Trade policies  and practices by measure  
3.14.   Tariffs.  I will now consider some of the pertinent trade policies and practices by measure 
from the Secretariat 's report. Nigeria 's average applied MFN tariff rate increased from 11.9 % in 
2011 to 12.7 % in 2017. The bound coverage remained low at 19.2 % of total lines. The average 
bound rate was 117.3 % in 2017, 9 times higher than its average applied rate. Narrowing the gap 
by reduction of tariff peaks and increase in the bound coverage would help enhance the 
predictability of the ta riff regime.   
3.15.   Import prohibitions and restrictions.  There are tw o lists of import prohibitions.  While 
the number of products on the import prohibition list by trade was gradually reduced, some 
product groups have b een added to the list recently.  On the ot her hand, the goods on the absolute 
import prohibitio n list have remained unchanged.  Nigeria also prohibits imports of specified goods 
such as rice and vehi cles through land borders.  Importers of some categories of items have also 
been banned from access t o foreign exchange by the Centr al Bank of Nigeria since 2015. Nigeria 
may wish to review and further reduce the prohibitions and restrictions, and work to ensure their 
consistency with WTO principles and rules.  
3.16.   Sanitary and phytosanitary (SPS) measures . Nigeria's SPS measures have remained 
largely uncha nged during the review period. The import of meat including beef, pork, mutton and 
frozen chicken rema in prohibited. Nigeria has indicated that these measures were under review.  
3.17.   Competition policy and price control . Nigeria currently has no legislation on competition 
but the authorities have indicated that the competition bill is expected to be passed by en d 2017. 
Price control has been terminated for most products except for, inter alia , electricity, retaile d 
refined petroleum, telecommunications and postal services.  
3.18.   Privatization.  Nigeria has made progress i n its privatization programme. Most of the 
state-owned power generation companies were privatized in 2013, and the telecommunications WT/TPR/M/356 • Nigeria  
 
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  companies were pri vatised in 2015.  110 enterprises remain f ully or partially owned by the 
Government as of February 2017.  
3.19.   Government procurement.  Nigeria is not a p arty to the WTO GPA. There appears to be a 
recent executive order on support for local contents in public pro curement by the federal 
government.  
3.20.   Intellectual property rights (IPRs) . Nigeria set up a Joint IPR Action Plan Committee to 
combat IPR infringem ents in 2015.  It notified its acceptance of the Protocol Amending the TRIPS 
Agreement in 2017.  
3.21.   Trade facilitat ion. There were some reforms in 2013 by the Nigerian Customs Service to 
expedite the release and clearance of goods.  Nigeria has also ratified the WTO Trade F acilitation 
Agreement in 2017. However , the costs of doing business remain high with many customs 
procedures and documentation requirements.  
Commitment to the multilateral trading system  
3.22.   Nigeria is engaged in the multilateral trading system as well as regional and bilateral 
economic agreements. It is an original Member of the WTO and is an active part icipant in the WTO 
negotiations including in areas such as agriculture, NAMA,  TRIPS and trade facilitation. More 
recently, Nigeria is a member of the Friends of E -commerce for Development and a co -sponsor of 
the non -paper on Electronic Commerce and Develop ment.  
3.23.   WTO Notifications. Nigeria has made notifications on SPS and TBT measures up to 2015 
but is not up to date on notifications in other WTO areas.  From the written questions posed, there 
is a lot of interest from Members for Nigeria to notify its Categ ories B and C commitments under 
the Trade Facilitation Agreement and I am sure Members will have heard today what was 
conveyed just a few minutes ago by Ambassador Osakwe that they have, indeed, notified the WTO 
of Categories B and C commitments and we wil l be seeing them very shortly. That is very good 
news so thank you very much for bringing that to this TPR.  
Regional integration and other economic agreements  
3.24.   Regional integration.  At the regional level, Nigeria is engaged in the African Union 's 
negotiatio ns for a Continental Free Trade Area. It is also a founding member of the Economic 
Community of West African States (ECOWAS) which has a  Common External Tariff (CET). The 
ECOWAS a lso has  a trade liberalization scheme, monetary cooperation programme and pro tocol of 
free movement. The regional market accounted for a small fraction of Nigeria 's total trade at 
around 6 % of its total exports in 2016.   
3.25.   Other economic agreements.  Other economic agreements that Nigeria is party to include  
16 Bilateral Trade Agreem ents. Nigeria is also a beneficiary under the US ' African Grow th and 
Opportunity Act (AGOA). From the trade statistics, Nigeria has not yet been able to exploit the full 
potential of the preferential access accorded under these agreements.   
The way forwar d 
3.26.   Business environment and Infrastructure development.  Nigeria has low international 
rankings for ease of doing business, ease of trading across borders, logistics per formance and 
competitiveness. As we have heard from Ambassador Osakwe, we should not be s tuck with 
stereotypes and we look forward towards the results of the reforms programme which are under 
way. The Government has , for example,  recently issued an executive order for the promotion of 
transparency and efficiency in the business environment des igned to facilita te the ease of doing 
business. This is certainly a step in the right direction and we look forward to the prompt 
implementation of this  executive order.  
3.27.   Infrastructure development. Inadequate infrastructure impacts key  sectors of Nigeria 's 
economy. For example, infrastructure in the oil sector is aging, the agriculture sector suffers from 
poor drainage systems and transport networks, and the manufacturing sector grapples with poor WT/TPR/M/356 • Nigeria  
 
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  electricity supply. The majority of roads, railways, airport s and ports are also in need of 
modernization.  
3.28.   The Government is , indeed,  cognizant  of the various chall enges confronting the economy. It 
recogniz es the opportunity for domestic policy and structural reforms to fulfil the country 's great 
potential. It has made progress in some areas, for example through increased competition in the 
telecommunic ations sector.  It is continuing to pursue economic reforms on the basis of the 3 -point 
Agenda to fight corruption, insecurity and unemployment through robust economic  growth.  In 
March 2017, it launched the Economic Recovery and Growth Plan (ERGP) to transform its economy 
through diversification, indus trialization and modernization.  It aims to diversify away from oil by 
growing a competitive manufacturing sector and str ong agricultural and services sectors, as these 
three sectors are projected to account for three -quarters of the gr owth over the next four years. 
The "Smart Nigeria Digital Economy " project is also one of the priority areas for the Ministry of 
Industry, Tr ade and Investment. As part of the diversification strategy, a "zero oil initiative " was 
also launched by the Government in 2016 to boost the supply of foreign exchange from non -oil 
sectors.  
Conclusion  
3.29.   This trade policy review is taking place in the conte xt of slowing global trade and fast and 
furious changes to the global economic and tr ade environment. Nigeria 's policy and structural 
reforms aimed at restoring growth, investment in its people and building a globally competitive 
economy, instead of puttin g up walls and resisting change, should be encouraged and supported.  
3.30.   I would like to conclude by wishing Nigeria a very successful TPR, and quick and effective 
implementation of its ERGP for Nigeria 's continued growth and development.  WT/TPR/M/356 • Nigeria  
 
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  4  STATEMENTS BY MEMBER S 
CANADA  
4.1.  Since its last Review in 2011, Nigeria has renewed its emphasis on trade facilitation reform 
while, at the same time, it is facing a number of significant challenges. Not only was the country 's 
economic expansion jeopardized by an unprecedented cr ash in crude oil price and the pressing 
need to diversify its economy, but Nigeria has also had to contend with significant security threats. 
Given its resourcefulness and resilience, Canada is confident that Nigeria can overcome these 
challenges and build  the bridge to a bright future.  
4.2.  Canada notes Nigeria 's active engagement at the WTO and welcomes its ratification of the 
World Trade Organization 's Trade Facilitation Agreement (TFA), and Nigeria 's submission of its 
Category A notification. Canada would en courage Nigeria to promptly submit its Category B and C 
notifications. Quick and robust implementation of the TFA would support Nigeria 's efforts to reboot 
its economy through export diversification and reduction of trade costs.  
4.3.  Canada welcomes the recent release of the Nigerian Economic Recovery and Growth Plan 
2017-2020. Canada notes the efforts that are made toward stabilizing the macroeconomic 
environment; achieving agriculture and food security; expanding energy infrastructure capacities 
in areas such as power and petroleum; improving transportation infrastructure; and driving 
industrialization principally through small businesses. This Plan is an important step toward 
renewed and sustainable economic growth.  
4.4.  While recognizing this reform program, Nige ria can take specific and concrete steps, including 
through trade policy, to build capabilities and enable growth across multiple sectors. Canada would 
like to highlight four priority areas for national action.  
4.5.  In the short term, a first area of action sh ould be to establish a market -driven and fully 
floating foreign exchange rate regime.  As recommended by the International Monetary Fund, 
Nigeria should lift remaining restrictions, thus unifying the foreign exchange market and helping 
regain investors ' confidence.  
4.6.  A second area requiring immediate focus and investment are the infrastructure and power 
sectors. Access to affordable and reliable power as well as good infrastructure are a pre -requisite 
for economic development, with the potential to have a mu ltiplier effect on growth. In addition, 
the power and infrastructure sectors facilitate high capital spending which promotes investment 
and builds economic competitiveness. Attracting foreign investment in power and infrastructure 
would re -energise Nigeria 's economic growth and drive job creation as well as improve the living 
conditions for its citizens.  
4.7.  Policy tools such as bilateral investment treaties are one way in which countries address the 
perception of risk. Conversely, a pattern of not ratifying s uch treaties might create some 
uncertainty about the stability of the investment policy framework. In order to instil further 
confidence in its investment environment, Nigeria should take steps to ratify the bilateral 
investment treaties it has already con cluded.  
4.8.  A third area of focus should be economic diversification to reduce dependency on crude oil 
export and take advantage of new opportunities in our globalised world. Nigeria is better placed to 
develop a well -diversified economy than any other countr y in West Africa. The abundance of 
natural resources, mineral deposits and fertile land it enjoys is unrivalled, as is its substantial 
human resource pool. Nigeria should continue with its range of initiatives devoted to promoting 
other sectors of the econ omy. 
4.9.  A fourth area of continuous focus should be the fight against corruption, a key element in 
economic under -performance and a major obstacle to poverty alleviation. Tackling corruption will 
create an environment that attracts more foreign direct investm ents and that supports economic 
diversification. To this end, Nigeria should consider making a commitment to enhanced 
transparency, including in domestic regulation for services.  WT/TPR/M/356 • Nigeria  
 
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  4.10.   A last area for national action is vocational training. Canadian investors ha ve experienced 
difficulty hiring locally, due to skills shortages in the Nigerian labour market. Nigeria should strive 
to provide training or vocational retraining in strategic sectors to contribute to social and 
professional development. Such a strategy w ould help attract investors in need of skilled local 
labour , and would promote inclusive trade.  
4.11.   Before concluding, I would like to acknowledge once again the difficult circumstances in 
which Nigeria has been evolving. Canada wishes the Nigeria delegation s uccess in its efforts to lay 
the foundation for an open and diversified economy and we wi sh you a successful Trade Policy 
Review.  
BRAZIL  
4.12.   Nigeria is a strong supporter of the multilateral trading system and is entirely  committed to 
the goals of the O rganiza tion. We particularly appreciate its full engagement in our common 
endeavours  to achieve a successful outcome at the MC 11. We also commend Nigeria 's 
commitment to implementing necessary reform policies.  
4.13.   Brazil would like to make some specific comments on certain aspects of Nigeria 's trade 
policies, starting by some market -access aspects.  
4.14.   The end of the ban on the importation of meat, including beef, pork, mutton, and frozen 
chicken, is a question of particular importance. Overall, Brazil looks forward to t he elimination of 
the "Import Prohibition List by Trade ". We hope that the phasing out schedule can be completed 
no later than December 2019, as indicated by Nigeria in its report. We also hope that, during this 
period, no more products are added to the Li st. 
4.15.   Beyond the ban, the protection levels for certain agricultural products remain an area of 
concern. The average bound tariff rate is very high, at 150%, and although the average applied 
tariff for agricultural goods is less than 20%, tariff escalation, peaks, duties and charges bring the 
level of nominal protection up to 70% in the case of cereals, alcoholic beverages and tobacco.  
4.16.   Still on market access, the coverage of tariff bindings remain s low. The combination of 
reduced binding coverage and high ave rage bound rates leaves ample margins for tariff changes, 
which renders the tariff regime less predictable.  
4.17.   On a topic which was mentioned by the discussant, we encourage Nigeria to enhance its 
attention to notification obligations. Keeping up -to-date with  notification obligations is of the 
utmost importance in order to ensure transparency and effective monitoring, one of the key pillars 
of this Organization.  
4.18.   Nigeria is one of Brazil 's largest trade partners in the African continent. Bi lateral trade flows 
reached US$ 10.5 billion both in 2013 and 2014. However, bilateral trade decreased consider ably 
to US$ 2 billion only in 2016 due to the fall in oil prices and the economic slowdown in Brazil. In the 
period under review, sugar represented more than 50% of Br azil's total exports to Nigeria – and 
even 75% in 2016. The diversification of trade should therefore be a priority in our bilateral 
agenda.  
4.19.   Brazil and Nigeria have a very productive dialogue with the aim of stimulating business 
investments. A bilateral Me morandum of Understanding for the Promotion of Trade and 
Investment was signed in October 2013.  
4.20.   We are also discussing a proposal for an Investment Facilitation and Cooperation Agreement 
(ACFI), similar to the bilateral investment treaties that Brazil conc luded with Angola, Malawi and 
Mozambique in Africa.  
4.21.   Beyond trade and investment, Brazil and Nigeria maintain a very constructive and fruitful 
relationship. In 2013, we launched a Bilateral Strategic Dialogue Mechanism. In the last six 
months only, the Nige rian Minister of Agriculture and Rural Development made three important 
visits to Brazil. In January, the Nigerian Minister for Petroleum Resources also visited our capital.  WT/TPR/M/356 • Nigeria  
 
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  4.22.   Let me conclude  by thanking the Nigerian deleg ation for the answers to Brazil 's questions 
and wishing them a very successful Trade Policy Review.  
UNITED  STATES  
4.23.   The U.S. and Nigerian G overnments have a tradition of open bilateral dialogue on policies 
regarding trade, investment, and commercial matters. U.S. foreign direct investment in N igeria 
exceeds US$5 billion, focused main ly in mining and manufacturing.  U.S.-Nigerian trade is 
important, but has declined in recent years largely due to shifts in U.S. sourcing of petroleum.  
4.24.   As the country with the largest economy and population on the A frican continent, Nigeria 's 
trade and investment performance has importance well beyond its borders, as has been 
acknowledged already this morning. While Nigeria is facing economic challenges stemming from 
declining oil receipts, we are hopeful that this c ircumstance will provide a spur to the Nigerian 
government to follow through on needed reforms that promote competitiveness and 
diversification.  
4.25.   During the 2011 review of Nigeria 's trade policy regime the Secretariat noted the need for 
Nigeria to diversif y its economy beyond oil, attract private investment, and improve its business 
and regulatory environment. Those observations are as valid today as they were then, though 
some time has since been  lost advancing these reforms. It has been said that one shou ld never 
waste a good crisis, as it can present a galvanizing opportunity to enact difficult changes, and 
Nigeria may be in such a period now.  
4.26.   We are pl eased to see that the Nigerian G overnment has signalled  that it will redouble its 
efforts to improve the  business environment from its current low ranking in the World Bank 's Ease 
of Do ing Business index. Stricter adherence to the WTO 's obligations regarding greater 
transparency and due process would dovetail well with the Buhari Administration 's efforts to 
reduce corruption and foster a thriving business climate.  
4.27.   In that vein, we would note that Nigeria is neither an observer to, nor a member of, the 
WTO's Agreement on  Government Procurement (GPA). Given that observership provides greater 
engagement opportun ities with GPA Members without requiring the taking on of obligations, 
Nigeria might consider requesting such status in order to make an important statement on its 
commitment to transparency.  
4.28.   Another of the issues noted in the Secretariat report was the pa ucity of Nigeria 's 
notifications to the WTO under the WTO TBT and SPS Agreements and the fact that notifications 
have often been of  regulations already in force. The notification procedures facilitate a welcoming 
business environment through allowing stake holders greater access to information and a voice in 
the decision -making process.  
4.29.   We were very pleased to see Nigeria ratify the WTO  Trade Facilitation Agreement. 
Implementation of the agreement will help reduce the cost of doing business in Nigeria and wi ll 
foster greater certai nty for the trading community. We welcome the news that Nigeria is notifying 
its Category B and C com mitments to the TFA Committee.  
4.30.   However, the barriers to importing into Nigeria go beyond cumbersome customs 
procedures, including s uch measures as currency restrictions and import bans that do not have an 
apparent basis under WTO rules. These import barriers create a more difficult business 
environment and engender conditions for informal trade, which in turn evades tariff revenue 
collection and health and safety inspections. We hope that Nigeria will reconsider these barriers, 
and focus instead on tools that address valid concerns with unfairly traded imports withou t 
disrupting legitimate trade. We are pleased that the Nigerian govern ment has in fact indicated that 
it intends to pursue development of WTO -consistent trade remedy mechani sms as well as customs 
reform. We hope that the draft laws and regulations for these mechanisms will be made available 
to the public and to Members for r eview and comment prior to finalization or implementation.  
4.31.   While the Secretariat report notes that Nigeria notified to the WTO in 1996 that it did not 
have local content laws or regulations, Nigeria has since enacted such measures in the oil and gas, 
autom otive, and com munications technology sectors.  While we can understand the desire to WT/TPR/M/356 • Nigeria  
 
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  promote local industries, U.S. companies have been critical of such measures as counterproductive  
and a hindrance to investment.  Meanwhile, WTO Members have repeatedly rais ed concerns about 
such measures through the WTO Committee system, including the Committee for Trade in Goods 
and the TRIMS Committee. Unfortunately, Nigeria has been resistant to using the WTO system to 
provide factual information about these measures to o ther Members.  
4.32.   We commend the Nigerian G overnment 's acknowledgement of the importance of intellect ual 
property rights protection.  We encourage the government to complete ratification of several WIPO 
treaties that it has signed, and to see through its ongoin g efforts to u pdate Nigeria 's copyright law. 
Given its thriving film and music industries, among others, Nigeria has much at stake in 
modernizing its copyright laws for the digital age.  
4.33.   In closing, we welcome this opportunity to review the Nigerian trade policy regime, to hear 
the plans of the Nigerian G overnment to promote the competitiveness and diversification of its 
economy, and to provide feedback and observations on areas of progress and concern. Nigeria 
faces significant challenges, but between the resources at its disposal and the talent and 
entrepreneurial spirit of its people, it has the i ngredients it needs to succeed.  We look forward to 
studying Nigeria 's answers to our questions  and to those of other Members.  We wish you a 
successful Trade Poli cy Review.  
THE SEPARATE  CUSTOMS  TERRITORY  OF TAIWAN,  PENGHU,  KINMEN  AND  MATSU  
4.34.   In 2016, Nigeria was our 59th largest trading partner, with two -way trade to the value of 
US$362 million, and for several years it has been our important trading partner in Afric a. 
4.35.   With regard to the Secretariat 's report, m y delegation welcomed Nigeria 's Vision 20:2020 
and its Economic Recovery and Growth Plan (ERGP) 2017 -2020 aiming to make the country one of 
the top 20 leading global economies by 2020. We also acknowledge Nigeri a's policies were aimed 
at reducing corruption, bringing its legislation into conformity wit h the WTO Agreements. However, 
despite progress, Nigeria 's trade regime had become more protectionist and deprived Nigeria and 
its trading partners of the benefits from further expansion of trade. Customs and documentation 
requirements remain burdensome for traders. Intellectual property rights infringements and 
violations are prevalent. We urge Nigeria to build on its efforts, since a strong intellectual property 
regime improv es the investment climate. Some of our companies have encountered some 
difficulties in interacting with the Nigerian bureaucracy.  
4.36.   We would like to encourage Nigeria to make further efforts to create the environment for 
market -oriented and privat e-sector -led economic development.  
4.37.   As the Africa 's main oil exporter, oil still accounts for about 90% of total export earnings 
and 70% of government revenue. My delegation would like to urge Nigeria to diversify its economy 
away from oil by building a com petitive manufacturing sector, which should facilitate integration 
into global value chains (GVCs) and boost productivity.  
4.38.   We firmly believe it would be vital to decrease the dependence on oil export if Nigeria 
continues to concentrate on a liberal trade r egime by structural reforms and create a more friendly 
business environment to boost its domestic economy. We wish Nigeria a very successful Trade 
Policy Review.  
CHINA  
4.39.   As a founding M ember of the WTO, Nigeria has been a s taunching supporter of the 
rule-based multilateral trading system and an active participant in the DDA  negotiations. As a 
developing M ember, China appreciates Nigeria 's efforts to ensure that the conce rns of developing 
and the least -developed M embers are reflected in the negotiations. We co mmend Nigeria 's 
ratification of the WTO Trade Facilitation Agreement on the side-line of World Economic Forum in 
Davos in January, which offered a timely boost to economic globalization.  
4.40.   China commends Nigeria 's launch of the Medium -Term Economic Recovery  and Growth Plan 
(ERGP) for the period 2017 -2020. We support Nigeria 's intensified efforts on structural reforms to 
diversify and industrialize its economy and improve its trade and investment regime. This is WT/TPR/M/356 • Nigeria  
 
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  particularly important when Nigeria is facing d aunting security and governance challenges 
compounded by the steep decline in oil prices.  
4.41.   As mentioned by both the Government and the Secretariat reports, actions have been taken 
to build a competitive manufacturing sector, transform a development -oriente d agriculture to an 
agribusiness -focused industry based on integrated value chains, simplify customs procedures and 
strengthen infrastructure construction, power supply in particular. We look forward to positive 
progress in all these areas.  
4.42.   China and Nige ria enjoy lasting and profound economic and trade relations. In the new 
century, especially when a strategic partnership was established between China and Nigeria since 
2005, bilateral economic and trade relations have sustained vigorous development with e xtended 
areas and more diversified patterns. Nigeria has become China 's third largest trading partner, one 
of the major investment destinations and project contracting markets in Africa. In 2016, bilateral 
trade volume amounted to US$10.7 billion. China ha s already invested or financed a total number 
of US$22 billion projects in Nigeria, another US$23 billion projects are on the way.  
4.43.   As important developing country partners, China and Nigeria complement each other in 
economic structure with large potential to be deepened for mutual benefic ial cooperation. 
China -Nigeria relations are standing at a new historical starting point and embracing 
unprecedented development opportunities. China looks forward to working closely with the 
government of Nigeria towards r estoring robust and sustained economic growth in Nigeria and 
lifting China -Nigeria strategic partnership to a new height.  
4.44.   We believe this TPR is the opportunity to identify the challenges our business communities 
faced in Nigeria. In this regard, we encour age Nigeria to continue the efforts to simplify and 
modernize the customs procedures, improve the predictability of its tariff structure, reduce the 
cost of doing business, further enhance transparency of policies and create a more favourable  
investment en vironment in particular.  
4.45.   We thank the Nigerian delegation for their reply to China 's written questions, which we will 
go through carefully.  
4.46.   To conclude, I wish the f ifth TPR of Nigeria a full success.  
ICELAND  
4.47.   Nigeria and Iceland have a strong and long las ting trade relationship. Nigeria has for 
decades been Iceland 's most important export market in Africa. The products we export to Nigeria 
are mostly dried fish, particularly dried fish heads.  
4.48.   Recently , however, the exports to Nigeria have fallen significa ntly, which is a cause for great 
concern. In 2014, Nigeria was the 8th biggest exporting country for Iceland worldwide, with 2.5% 
of overall exports. But in 2016, Nigeria had dropped to 16th place, with only 1% of overall exports. 
In this period of just tw o years exports fell from about US$130 million in 2014 to about 
US$50  million in 2016. As Nigeria is the only market worldwide for dried fish heads, producers in 
Iceland have suffered seriously from this situation.  
4.49.   This dramatic drop is due to restriction s that continue to be imposed by Nigeria on foreign 
exchange and which have been discu ssed on many occasions in this H ouse, now most recently in 
the Trade in Goods Council last April. These restrictions are causing damage both to Icelandic 
exporters as wel l as to Nigerian importers and consumers, as importers of fish products cannot 
buy foreign currency in the Nigerian Foreign Exchange Markets. In addition, the import duty on 
fish heads was recently increased from 5% to 20%. According to approved fiscal pol icy measures 
in Nigeria, these duties were lowered to 10% in October last year. However, in practice, 20% 
duties are still levied on dried fish heads.  
4.50.   The Icelandic G overnment has made several attempts to draw the attention of Nigeria to 
how the measures a re negatively affecting our trade relations. Our previous Minister for Foreign 
Affairs and External Trade visited Nigeria last August to explore with her Nigerian counterpart how 
this issue could be brought under WTO principles. And only last week, the iss ue of duties and WT/TPR/M/356 • Nigeria  
 
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  upliftment of import prices was discussed with customs authorities in Nigeria at a meeting in 
Abuja. We are hopeful that from now on, duties will be levied according to the "recommended duty 
rate for implementation ", as it is called on the  website of the Finance ministry, and that it will be 
levied on actual market prices as reflected on invoices.  
4.51.   The Icelandic delegation sent questions in advance to N igeria to be addressed at this t rade 
policy review and we thank Nigeria for providing the answers last night. As we have not had much 
time to analyse  the replies I can only give preliminary comments.  
4.52.   We welcome that Nigeria will review and possibly remove the ban for accessing foreign 
exchange for 41 goods and services, and we trust that impor ters of dried fish heads will be able to 
access foreign currency.  
4.53.   I would like to further ask Nigeria to explain working methods used by customs authorities 
to calculate import duties on fish products and why such calculations are not based on customs 
declarations? In the answer provided, Nigeria states that when there is sufficient reason to doubt 
the transaction value an uplifting  is done. I would like to ask: w hy is the transaction value so often 
doubted? It seems to be the rule rather than the exemption .  
4.54.   And finally, as regards Nigeria 's answer to whether Nigerian authorities have considered 
reducing import duties of fish heads that  stated Nigeria 's priority is to achieve self -sufficiency in 
food, I would like to underline that fish heads are a healthy,  high-quality and affordable source of 
food, mainly consumed by the people with the lowest income.  
4.55.   Iceland looks forward to working with Nigeria on restoring our trade relations to their 
previous levels. We urge Nigeria to refrain from imposing restriction  measures against fish 
products and to exercise full transparency on any changes in Nigeria 's import regime. Iceland 
furthermore encourages Nigeria to respect her WTO obligations, including the obligation to notify 
the measures, and calls on Nigerian autho rities not to introduce any further trade barriers.  
4.56.   Finally allow me to thank the Nigerian delegation and to wish you a very successful Trade 
Policy R eview.  
JAPAN  
4.57.   Needless to say, Nigeria is an important economic partner in the African region. With regard  
to capital expenditure, Japan 's investment in Nigeria is not so big, but in terms of jobs created by 
investments, Japan ranks 7th, according to the Financial Times.  
4.58.   Japan will make continuous efforts to maintain and further develop the strong ties between  
us. 
4.59.   The report by the Secretariat note s that the economy of Nigeria had performed well since 
the last policy review. The average growth rate of the country 's GDP was remarkable at 
approximately 7%, although it decreased to 2.7% in 2015 mainly due to sharp  drop in crude oil 
price.  
4.60.   Although Nigeria 's national revenue is still highly dependent on the export of crude oil, 
Japan commends the country 's great efforts to be included in the Global Value Chain as well as to 
develop competitive manufacturing industry . Japan also accredits Nigeria in undertaking its 
national strategy to prioritize four sectors, namely agriculture, mining sector, building materials 
and manufacturing sector with a view to creating a well -diversified economy. Japan believes these 
efforts will result in a more stable and resilient economy.  
4.61.   Now, let me briefly touch upon its trade policies.  
4.62.   With regard to the WTO, Japan positively evaluates that Nigeria has contributed to 
maintaining and strengthening the multilateral trading system under th e WTO. Nigeria has taken 
part in various negotiating groups. Furthermore, Japan highly approves Nigeria 's active 
involvement in electronic commerce issue, as a member of the Friends of E -commerce for WT/TPR/M/356 • Nigeria  
 
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  Development. Also, Japan commends Nigeria 's active parti cipation in the negotiations on the trade 
facilitation agreement and its ratification in January 2017.  
4.63.   However, Nigeria still faces challenges in implementing the WTO Agreement and the delayed 
notifications are noticeable. Japan encourages Nigeria to notif y its trade policies in a timely 
manner.  
4.64.   With regard to RTAs, according to the report by the Secretariat, Nigeria is working on the 
negotiations of the CFTA as a member of the African Union, which Japan commends as an effort 
for further trade liberalizatio n. Japan expects RTAs to be concluded by Nigeria to complement and 
strengthen the multilateral trading system.  
4.65.   On the other hand, Nigeria has not yet signed the EPA with the European Union in spite of 
its conclusion in July 2014. Also thought various bilat eral agreements, opportunities for market 
access in Nigeria are increasing, but trade in goods other than crude oil is still limited. Japan 
expects that Nigeria will continue to engage in trade liberalization.  
4.66.   In terms of investment regime, Japan commends the country 's continuous efforts on 
improving investment environment as the driving force of economic growth. In this regard, we 
believe it is important for Nigeria to have bilateral investment agreements (BIT) which will give 
foreign investors a legal cer tainty. Japan expects that Nigeria will continue to actively tackle the 
BIT negotiations.  
4.67.   Now, let me make some brief comments on specific issues.  
4.68.   First concern is about tariffs. In recent years, the CET (common external tariff) of the 
ECOWAS decreased, wh ich Japan commends. However, Nigeria 's final bound tariff rates average 
117.3% and the tariff binding coverage remains low at 19.2% of total lines. Low binding coverage 
and high average bound rates renders the tariff regime less predictable. Japan urges Ni geria to 
bind coverage and tariff rates conforming to the actual situation which will lead to improving 
investment incentives. It is relevant to Nigeria 's nation Vision, the "Vision 2020, which we 
commend.  
4.69.   Second, we are concerned with foreign exchange pol icy. In June 2015, the CBN circulated a 
list of 41 items for which it would no longer supply foreign exchange. The restrictions on foreign 
exchange have served to protect certain sectors of the economy, but this resulted to cuts in 
investment and consumpti on. Japan hopes that Nigeria reviews those restrictions in order to 
improve the current situation.  
4.70.   Finally, let me touch upon local content requirements in several sectors. Although Nigeria 
notified to the WTO that it does not have local content laws or re gulations, the country has 
maintained some measures. Japan expects Nigeria to promote its domestic industry in a way 
which is fully -consistent with the WTO agreements.  
4.71.   In conclusion, I would like to express our strong wish to our continued cooperation betw een 
Nigeria and Jap an. We wish Nigeria a successful and productive TPR.  
CHILE  
4.72.   One of the objectives of Chile's foreign policy is to strengthen relations with Africa. 
Closer  links with this important continent have been established mainly through the ASA 
(South America – Africa) Summit at the multilateral level. In this connection, it should be noted 
that Chile has been accredited to the African Union since 2007.  
4.73.   Although the development of political and trade ties of is relatively recent origin, Chile and 
Nigeria have a shared vision of the importance of multilateral trade and the role to be played by 
the WTO in its defence and promotion. Thus, the 55 years of diplomatic relations are an important 
asset which encourages us to continue deepening our relations hip with one of the most dynamic 
and prominent economies on the African continent. In this connection, we consider that there are 
good prospects for increasing trade and cooperation between our countries, for which reason this 
review exercise is of great i nterest to us.  WT/TPR/M/356 • Nigeria  
 
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  4.74.   There can be no doubt for us that Nigeria is one of the economic powerhouses of Africa. The 
Secretariat report notes that Nigeria is the 26th largest economy in the world, but what is most 
appealing is the fact that it will be in 14th place by 2050, according to a February study by the 
international consultancy PriceWaterhouseCoopers. It is also commendable that, in the 
period  2008-2013, Nigeria recorded the 7th highest economic growth rate in the world and that, 
between 2005 and 2015, the an nual growth rate was around 7%.  
4.75.   We note Nigeria's efforts to diversify its economy in order to reduce its dependence on oil, 
since this resource accounts for 90% of its export earnings and 70% of government revenue.  
4.76.   We are also carefully following the vari ous reforms undertaken in the customs service to 
expedite the release and clearance of goods, especially those related to information access. 
Moreover, it should be emphasized that Nigeria has a fairly open foreign investment regime which 
is positively com plemented by the progress made in applying its privatization programme.  
4.77.   Moreover, we emphasize that one of the main aims of the Government is to combat 
corruption in the three branches of State power.  
4.78.   We are also interested to note from the report that the  Nigerian Government is 
endeavouring to transform its agricultural sector, which has been in decline for the last four years 
and is the means of livelihood for more than 100  million Nigerians. We therefore commend the 
development of integrated value chains  which promotes the Agricultural Transformation Agenda 
and the Agricultural Promotion Policy (2016 -2020).  
4.79.   Despite the foregoing, Nigeria should step up its efforts to improve regulations and 
protection for businesses, since the 2017 Doing Business report o f the World Bank ranks Nigeria in 
169th place out of 190 countries. Indeed, we urge Nigeria to carry out legislative reforms in the 
field of trade, since many existing laws are obsolete.  
4.80.   At the same time, even though Nigeria is an active participant in var ious WTO negotiating 
groups, it is nevertheless behindhand with some notifications and we invite it to submit them 
without delay.  
4.81.   With regard to the question posed by my country for this fifth review exercise, I must point 
out that we are concerned at the restrictions on imports of frozen fish adopted by Nigeria. In this 
regard, it should be emphasized that Nigeria was the main market destination of Chilean exports 
of frozen "horse mackerel". However, as a result of the application of the aforementioned 
restrictions, trade between the two countries has shown a marked decline in recent years. This has 
significantly affected Chilean exporters of this product.  
4.82.   In this connection, since 2013, Chile, like other Members, has consistently expressed 
concern about th is restriction in the Council for Trade in Goods. Chile reiterates its concern at the 
changes made by Nigeria in the import regime for fishery products and the lack of information on 
the justification of the measure. Accordingly, we ask Nigeria to provide us with more information 
on the requirements to be met by exporters in order to be able to serve the Nigerian market for 
frozen fish. Chile hopes that the import restrictions can be eliminated in the short term.  
4.83.   In conclusion, we wish to congratulate Niger ia on the transparency it has shown in 
subjecting itself to the scrutiny of its peers. This will no doubt help strengthen the system. We 
wish Nigeria success in this fifth review of its trade policy.  
AUSTRALIA  
4.84.   We take the opportunity to congratulate Nigeri a on its ratification of the WTO Trade 
Facilitation Agreement, in January, and acceptance of the Protocol amending the TRIPs Agreement. 
This is a firm sign of its commitment to the multilateral trading system and its leadership in the 
region on trade matte rs. 
4.85.   Australia commends the central role of trade in Nigeria 's Economic  Recovery and Growth 
Plan (ERGP) which we believe provides a sound policy framework to pursue economic growth and 
development. To effectively implement the ERGP, we encourage Nigeria to consider further WT/TPR/M/356 • Nigeria  
 
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  addressing trade restrictive measures which raise the cost and difficulty of doing business. In 
particular, distortive foreign exchange controls continue to have a negative impact on trade and 
investment. We urge Nigeria to move towards a consistent, clear and transparent monetary 
regime that enables the flow of goods and services.  
4.86.   Australia has partnered with the Nigerian Ministry of Solid Minerals Development, the 
Canadian Government and the World Bank in producing a review of Nigeria 's minerals sector. We 
are pleased this review has helped to inform the development of a new sector roadmap.  
4.87.   Australia encourages Nigeria to take steps to implement fully its regulatory frameworks for 
the mining industry. Certainty around licensing and the eff ective management of artisanal mining 
will increase Nigeria 's attractiveness as an investment destination. We encourage Nigeria to ensure 
the sector is free from arbitrary and trade restrictive rules and regulations that deter exploration 
and investment.  
4.88.   Beyond mining, services trade in education has strong potential to fuel growth and further 
empower the Nigerian workforce. We encourage the Nigerian Government to support a regulatory 
environment that facilitates educational linkages and the potential deliv ery of Australian education 
and training in high priority sectors within Nigeria.  
4.89.   Australia notes Nigeria 's goal of increasing its domestic production of priority agricultural 
products. We suggest measures to enhance productivity, including access to new t echnologies and 
required agricultural inputs, will be more effective in achieving this goal than the imposition of 
tariffs and levies. We encourage Nigeria  to reconsider  its 15% tariff on the import of wheat grain in 
favour  of investment to boost he curren tly low domestic production of wheat.  
4.90.   Australia welcomes the opportunity to continue to work with Nigeria to further develop its 
capacity to participate in the multilateral trading system, including through the delivery of practical 
training in trade polic y and trade negotiation under our Australia Awards Program and other 
initiatives.  
4.91.   Australia wishes Nigeria  a successful and constructive Trade Policy R eview. We look forward 
to continuing to grow our trade and investment relations.  
ARGENTINA  
4.92.   Argentina is m ost interested to note the economic growth of Nigeria, a country 
with 178.5  million inhabitants whose economy grew strongly, by about 7% per year, in the decade 
ending in 2015.  
4.93.   In the area of bilateral trade, which should be mentioned as being of great imp ortance to 
Argentina, the main products traded are grain corn, whole milk powder, soya beans, frozen fish, 
seamless tubes, pipes and hollow profiles, liquefied natural gas and crude petroleum oils.  
4.94.   We would also highlight the efforts being made by Nigeria to industrialize, diversify and 
modernize its economy. Among the measures being implemented, we hope that the Nigerian 
Economic Recovery and Growth Plan for the period 2017 -2020 meets its objective of achieving 
structural transformation of the economy.  
4.95.   Argentina congratulates Nigeria on this and other initiatives aimed at diversifying its 
economy, integrating its manufacturing sector into global value chains and establishing a dynamic 
services sector. In this connection, we hope that the recent merging of t rade, industry and 
investment under the ambit of the Federal Ministry of Industry, Trade and Investment (FMITI) will 
become a key tool for improving the trade and investment environment.  
4.96.   Argentina also wishes to place emphasis on Nigeria's commitment to th e WTO and the 
rules-based multilateral system. We welcome its full participation in negotiations within the 
African  Union to establish a Continental Free Trade Area (CFTA). It is also worth noting that 
Nigeria grants customs concessions to certain imports,  including agricultural inputs such as 
fertilizer, seeds and machinery to improve agricultural productivity.  WT/TPR/M/356 • Nigeria  
 
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  4.97.   Mr Chairman, we also note that the Nigerian Customs Service (NCS) undertook several 
reforms in 2013 with a view to expediting the release and clear ance of goods. They include, in 
particular, the establishment of a pre -arrival clearance system known as the "Pre -Arrival 
Assessment Report" (PAAR) and the setting up of a trade hub/portal for traders to access 
information.  
4.98.   Despite the foregoing, and witho ut prejudice thereto, we should not fail to mention our 
concern at the measures implemented by the Central Bank of Nigeria which have resulted in 
foreign exchange restrictions relating to trade in certain products. It should be noted that this 
policy has m ore particularly affected Argentine exports of Chapter 03 products (fish and 
crustaceans, molluscs and other aquatic invertebrates). We have raised questions in this respect 
and the replies will be analysed in detail.  
4.99.   Lastly, we would mention that Argentin a highly commends the role that Nigeria is playing in 
the negotiations on the liberalization of agriculture in particular. As part of the efforts to modernize 
the WTO trade agenda, Argentina notes that Nigeria is collaborating, participating, and 
co-sponso ring groups such as the Friends of E -Commerce for Development and Friends of 
Investment Facilitation for Development.  
4.100.   In conclusion, while again expressing our appreciation of this fresh opportunity to 
exchange views and reflections on Nigeria's trade poli cies and practices, we would again draw 
attention to the importance of this exercise in transparency, in all its aspects, and wish the 
Nigerian authorities a successful conclusion to this review.  
NEW  ZEALAND  
4.101.   New Zealand has an active commercial and systemi c interest in Nigeria 's trade and 
investment policies. Our exports to Nigeria averaged NZ$277 million over the last five years, which 
was largely dominated by dairy trade. Nigeria has significant economic potential, and it remains a 
market of interest for many New Zealand companies.   
4.102.   It is well -known that Nigeria 's economy was significantly affected by the commodity price 
collapse in 2014, and the Nigerian government 's efforts to refocus on diversification and inclusive 
growth are therefore commendable. Ne w Zealand welcomes the launch of Nigeria 's "Economic 
Recovery and Growth Plan " and the associated reforms aimed at improving governance, monetary 
and fiscal policies, and the trade environment. In this regard, we note the progress made in 
reducing the numb er of goods on the import prohibition list. While this is a positive step, we 
encourage Nigeria to continue to lift import restrictions, including for meat products. We would 
welcome Nigeria 's comments on further work planned in this regard.  
4.103.   New Zealand ha s a keen interest in Nigeria 's Agricultural Transformation Agenda. We see 
this Trade Policy Review as a useful opportunity to  learn more about the Nigerian G overnment 's 
agricultural policies, particularly the "Growth Enhancement Support Scheme " to register  
smallholder farmers and provide targeted input subsidies. We would also welcome elaboration on 
Nigeria 's policies for enhancing fish production, particularly the economic incentives outlined in the 
Secretariat 's report as well as any steps being taken to eliminate harmful fisheries subsidies.  
4.104.   New Zealand is strongly supportive of Nigeria 's recent efforts to remove subsidies on fossil 
fuels. We would be interested in hearing more about any additional work planned by Nigeria to 
ensure the enduring  eliminati on of harmful fossil fuel subsidies while providing access to basic 
energy services for those in need.  
4.105.   Nigeria 's ratification of the Trade Facilitation Agreement in January was a welcome step 
that helped ensure the implementation of this important Agreeme nt. We look forward to Nigeria 's 
implementation of category B and category C provisions of the WTO Facilitation Agreement as 
soon as possible.  
4.106.   In conclusion, the reports by Nigeria and the Secretariat illustrate the positive steps the 
Nigerian government is taking to improve governance and implement policies conducive to 
economic growth. We encourage Nigeria to consider further measures to ease trade restrictions WT/TPR/M/356 • Nigeria  
 
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  and demonstrate its commitment to open trade, as reflected in our written questions submitted as 
part of this Trade Policy Review.  
EUROPEAN  UNION  
4.107.   Nigeria is a key player in the region and an important partner for the EU. In 2016, Nigeria 
was our second  largest trading partner in Sub -Saharan Africa and the EU is Nigeria 's main trading 
partner. In pa rticular, the EU is the main destination market for Nigeria 's non -oil exports.  
4.108.   Nigeria benefits since 1st January 2008 from unilateral preferences granted by the EU 
under the Generalised System of Preferences. The EU and Nigeria, together with 15 other 
countries of West Africa, are engaged in the process of concluding an Economic Partnership 
Agreement which aims at improving the trade and development relationship.  
4.109.   The EU and its Member States are strongly engaged in favour of Nigeria 's development, 
and prov ide substantive development cooperation support, amounting to more than €500 million 
per year. This includes support to Nigeria 's economic transformation and competitiveness, good 
governance, energy and other infrastructures. The EU also provided €62 million in 2016 for 
humanitarian relief and rehabilitation support in the Bor no State.  
4.110.   Since the last TPR in 2011, Nigeria has been subject to many macroeconomic challenges. 
The 2014 "rebasing exercise " rightly highlighted the real size of Nigeria 's economy, and the 
importance taken by services as a share of GDP. However, the colla pse in global commodity prices 
has put a strain on Nigeria 's exports, growth and revenues with the country entering into recession 
last year following a 1.6% contraction in full year GDP. This shows the need for diversification of 
the economy in order to a void excessive reliance on oil revenues only.  
4.111.   In that regard, we welcome the "Economic Recovery and Growth Plan " launched by 
President Buhari on 5 April 2017, and express strong hope that the Plan quickly materialises into 
new economic opportunities for t he operators active in Nigeria and into concrete benefits for the 
population and in particular in terms of employment especially for the youth.  
4.112.   Structural reforms are key for Nigeria to benefit from integration into global trade and 
develop new value -added . The EU welcomes the adoption by Nigeria of the ECOWAS Common 
External Tariff which, when fully implemented after the transition phase, will provide clarity for all 
businesses active in Nigeria and greatly contribute to regional  economic integration of th e 
15 ECOWAS Member States.  
4.113.   We also acknowledge the ratification by Nigeria of the Trade Facilitation Agreement and we 
look forward to its implementation. We welcome the recent communication about the notification 
of its category B and C commitments.  
4.114.   For the moment however, we can only agree with the WTO Secretariat that "despite efforts 
to facilitate trade, the cost of doing business in Nigeria is rather  high". We understand that a 
60-day National Action Plan on Ease of Doing Business in Nigeria was annou nced recently while an 
Executive Order has been issued by the Acting President with a view to actualising the Action Plan. 
We hope that the plan will deliver concrete improvements in the short and mid -term. Many of the 
questions that the EU raised in the c urrent TPR are precisely linked to difficulties faced with 
economic operators active in Nigeria or seeking to develop activities in the country.  
4.115.   This brings me to the fact that during the last TPR, the EU and other Members raised many 
concerns regarding Ni geria's trade regime that remain valid today (increase in border protection 
through tariff and non -tariff measures, import bans, difficult registration procedures, burdensome 
customs procedures, local content requirements - to name some).  
4.116.   We have addresse d these in more detail in our advance written questions; nevertheless, I 
would like to touch upon some of them which often echo questions raised in other Committees of 
this Organisation such as TRIMs, Import Licensing Committee or Council for Trade in Good s and 
have so far not really been answered:  WT/TPR/M/356 • Nigeria  
 
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  4.117.   First, the decision by the Central Bank of Nigeria to restrict access to foreign exchange to 
importers of about 41 items covering a wide range of economic activities. The measure results in a 
de facto import res triction on more than 800 tariff lines and has significant consequences on the 
national economy, on people 's standards of living and on Nigeria 's trade partners. This issue has 
already been raised in the relevant WTO Committee but was not yet answered.  
4.118.   Second, the local content requirements in Oil and Gas Act. This law imposes serious 
restrictions on the procurement of goods and services in the oil and gas industry. We would 
welcome Nigeria 's assessment of this Act 's compatibility with its WTO obligations, in particular with 
reference to Articles III and XI of GATT 1994 and Article 2.1 of TRIMs.  
4.119.   Thirdly, the burdensome customs procedures and erratic custom valuation. The lack of 
transparency in customs rules and procedures is a trade barrier for foreign exp orters and 
importers. The long time needed for customs clearance and some practices during the import 
procedure create additional unnecessary costs for imports. The EU recommends Nigeria to provide 
full transparency of import procedures and customs regulat ions (in particular custom valuation 
methods).  
4.120.   Last but not least, the EU encourages Nigeria to continue its steps to improve good 
governance, fight against corruption and enhance the level of transparency of its policies and 
procedures, including trade po licies – all this will positively support Nigeria 's economy and will 
allow all stakeholders to benefit fully from trade.  
4.121.   In conclusion, the EU fully supports Nigeria 's ambition to leverage its enormous potential 
into sustained economic, including industri al, development. We encourage Nigeria to pursue these 
objectives in an economically sustainable and competitive manner, without unwarranted use of 
trade distortive policies.  
4.122.   The EU believes that Nigeria 's ongoing structural and macroeconomic reforms, toge ther 
with diversification of production can play a key role in ensuring long -term sustainable 
development and improve Nigeria 's business environment. This is especially important as Nigeria is 
a key member of the ECOWAS, of the African Union and of the WTO , and thus should be an 
example for all its neighbouring countries.  
4.123.   The EU looks forward to Nigeria 's responses to the questions put forward at this review and 
hopes that the exchange here will be useful in guiding Nigeria in its economic development. We 
also look forward to our cooperati on towards the MC11, notably in  areas of e -commerce and 
investment facilitation.  
NORWAY  
4.124.   Norway and Nigeria have longstanding trade relations. Export of Norwegian seafood to 
Nigeria can be traced all the way back to 1890.  
4.125.   Norway attaches priority to trade with Nigeria. We expect Norwegian businesses to 
continue to be active in Nigeria 's oil and gas sector, and note as others, concern  about local 
content requiremen ts in the oil and gas sectors. The fish trade will also contin ue to be very 
important. There is potential for significant growth in our bilateral trading relationship.  
4.126.   We applaud Nigeria 's ratification of the Trade Facilitation Agreement. Implementation of 
the agreement will contribute to reducing the cost of doing business in Nigeria, and thereby to 
increased trade and prosperity.  
4.127.   However, according to the World Bank 's Doing Business Report, the cost of doing business 
is higher in Nigeria than the average cost across Sub -Saharan Africa. This is unfortunate.  
4.128.   Corrupti on remains a major problem. Norway strongly supports Nigeria 's efforts to fight 
corruption, including through the Economic and Financial Crimes Commission.  
4.129.   In many parts of the country, there are also significant security concerns that need to be 
addresse d. WT/TPR/M/356 • Nigeria  
 
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  4.130.   We acknowledge the challenges the Nigerian economy has experienced as a consequence 
of the drop in oil prices. This has led to a fall in GDP growth, exports and government revenue.  
4.131.   The situation underlines the importance of - and the need to - diversif y the economy, as 
highlighted by ambassador Osakwe.  A major tool for achieving much needed development and 
diversity is a well -functioning trade system. Nigeria will benefit from further opening of its trading 
environment.  
4.132.   We hope that Nigeria will ensure  the enduring elimination of harmful fossil fuel subsidies, 
also against future oil price hikes, while providing access to basic energy services for those in 
need.  
4.133.   As mentioned, Nigeria is an important market for Norwegian seafood, in particular for stock 
fish, stock fish -heads and pelagic fish, such as frozen mackerel. Norwegian seafood represents an 
important source of protein for many Nigerians.  
4.134.   However, during the past years, imports of Norwegian seafood to Nigeria have been 
significantly reduced, due t o a number of obstacles and uncertainty regarding trade conditions.  
4.135.   The decline in trade has been in large part due to the currency restrictions that were 
implemented in Nigeria around 2 years ago. The issue of currency restrictions has since 2015 been 
duly addressed by Norway and several other members, both in various committees here at the 
WTO, as well as on other occasions, and here today.   
4.136.   A number of other issues related to the import regime for fish and fish products have 
presented challenges and hav e contributed to a negative impact on fish trade. This primarily 
relates to customs valuation issues, various forms of import licensing and rumours of import 
quotas.  
4.137.   In addition, there seems to be a general lack of transparency about existing trade rules 
and possible plans to amend these. This has contributed to an uncertain regime, and to some 
questions about compatibility with Nigeria 's WTO -obligations.  
4.138.   The importance of Norwegian -Nigerian trade relations in the fisheries sector was 
underlined by the visi t of our state secretary for fisheries earlier this spring – when a number of 
positive meetings were held that seemed to address important trade concerns in the area of 
seafood. We look forward to further progress and cooperation on these issues.  
4.139.   Norway in vites Nigeria to inform the WTO -membership of any plans to replace the current 
currency restrictions. We are also interested in further information regarding recent developments 
in the customs regime, and general rules for trade in seafood.  
4.140.   Nigeria 's Mission in Geneva continues to play an active role in the WTO. We look forward to 
continue working with Nigeria to further strengthening the multilateral trading system, which is a 
central prerequisite for global economic growth and sustainable development. Th e benefits to us 
all of such a system cannot be overstated.  
REPUBLIC  OF KOREA  
4.141.   We note that Nigeria, as the biggest economy in Africa, experienced strong growth up to 
2015. Nigeria holds the largest oil and gas reserves in Africa, and these have been a majo r 
contributor to Nigeria 's economic growth.  
4.142.   However, a sharp decline in oil prices has had significant adverse impacts on Nigeria 's 
economy, which highly dependent on the oil sector. The growth rate of the Nigerian economy has 
decreased while domestic infl ation increased to 15.7% and the unofficial employment rate rose to 
13.1% in 2016.  
4.143.   We well recognize that Nigeria is making every effort to address these challenges. It is 
notable that Nigeria continues to pursue economic diversification under the Economic  Recovery WT/TPR/M/356 • Nigeria  
 
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  and Growth Plan (ERGP) 2017 -2020. Nigeria also has made progress in its privatization 
program me, and undertaken reforms in the area of customs clearance.  
4.144.   It is our hope that Nigeria will boost its economic vitality by economic reforms for securi ng 
food security, improving business environment, and building a competitive manufacturing sector.  
4.145.   We are of the view that trade and investment must play a central role in the sustainable 
development of the Nigerian economy. To be a more attractive destina tion for foreign investment, 
and to integrate its industries more solidly into global value chains, it is crucial for Nigeria to 
enhance the openness, transparency and predictability of its policy.  
4.146.   In this sense, we welcome that Nigeria ratified the Trade Facilitation Agreement and 
notified the WTO of its acceptance of the Protocol Amending the TRIPS Agreement this January.  
4.147.   Nevertheless, there still remain concerns on trade policies of Nigeria to be addressed.  
4.148.   For years, Nigeria has introduced many trade r estrictive measures, such as foreign 
exchange restrictions on 41 categories of imports, and local contents requirements in the oil and 
gas, and automotive sector. Those restrictive measures have long been discussed as issues at 
standing WTO committees. We would like to see positive movement on them in the near future.  
4.149.   In addition, our view is that the tariff regime of Nigeria needs to be more transparent and 
predictable than it is. We also encourage Nigeria to ensure compliance with its WTO notification 
obligation.  
4.150.   Korea and Nigeria have developed a strong economic relationship since establishing 
diplomatic ties in 1980. In particular, energy, electricity and construction are major areas of 
cooperation between the two countries. We hope that this economic pa rtnership can be further 
developed and expanded in the future.  
4.151.   At this TPR, my delegation has sought clarifications and expressed concerns through 
written questions on taxes and tariffs, technical regulations, foreign exchange rates, and 
government procur ement.  
4.152.   We are grateful for the efforts of the Nigerian delegation to provide answers in a timely 
manner. After reviewing these answers carefully, we may have some follow -up questions.  
4.153.   Nigeria, as an original Member of the WTO, has played a valuable role i n the multilateral 
trading system. We hope Nigeria will continue to contribute to the multilateral trading system in 
the future and we look forward to working closely with Nigeria for a successful outcome of MC -11. 
4.154.   Once again, we would like to express our sincere appreciation to the Nigerian delegation 
for its hard work and wish it every success in its TPR.  
SINGAPORE  
4.155.   This TPR takes place amidst severe challenges faced by Nigeria including the drop in global 
oil prices, and decline in the agricultural sector  in recent years.  
4.156.   We commend Nigeria 's efforts to address the challenges including the 2016 "zero oil 
initiative " as well as the 2017 Economic Recovery and Growth Plan.  
4.157.   The latter seeks to transform its economy through diversification, industrialization and 
modernization.  
4.158.   Singapore and Nigeria enjoy strong bilateral relations and h ave longstanding economic 
ties. The bilateral trade in goods was S$243.7 million in 2016 and the bilateral trade in services 
amou nted to S$767 million in 2015. As of 2015, the total stock of direct investment in Nigeria was 
S$2.34 billion with investments concentrated in manufacturing as well as whole sale and retail 
trade sectors. Nigeria and Singapore have signed a bilateral investment treaty in 2016 and WT/TPR/M/356 • Nigeria  
 
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  concluded negotiations on an avoidance of doub le taxation agreement in 2015. We look forward to 
further strengthening of our economic relations in the coming years.  
4.159.   Singapore appreciates Nigeria 's engagement with th e multilateral trading system. At the 
WTO, Nigeria is an active  and important player in the negotiations, and contributes to the work of 
the regular Committees.  It supports discussion of E -commerce in the WTO, being a member of 
Friends of E -commerce for Development and co -sponsoring the non -paper on Electr onic Commerc e 
and Development. We welcome the cooperation on this issue, and we also welcome Nigeria 's 
acceptance of the Protocol Amending the TRIPS Agreement as well as its ratification of the WTO 
Trade Facilitation Agreement. We also welcome  Nigeria's very recent no tification  of its Categories 
B and C commitments.   
4.160.   We note Nigeria 's notifications under the SPS and TBT agreements up to 2015 but observe 
that there are outstanding notifications under other WTO agreements. We encourage Nigeria to 
make continued efforts with respect to the outstanding notifications. We further encourage Nigeria 
to address the issue of high average bound rates and low bound coverage which were highlighte d 
in the Secretariat 's report. We also encourage Nigeria to consider being an observer in the 
Government Procurement Agreement with a view to future GPA accession.  
4.161.   Singapore looks forward to continuing our close and constructive cooperation with Nigeria 
in the WTO, including through its Mission in Geneva, to uphold th e multilateral trading s ystem. We 
wish Nigeria well as it seeks to revitalize its economy, including through the implementation of 
reform programmes such as the Econom ic Recovery and Growth Plan. Finally , we thank Nigeria for 
the timely responses to our questions and wish you eve ry success in the Trade Policy Review.  
COLOMBIA  
4.162.   I should like to begin by underscoring Nigeria's participation in the WTO. This country has 
shown itself to be an active Member of the Organization since its establishment: it played a crucial 
role in the neg otiation of the Trade Facilitation Agreement and has already ratified that instrument 
together with its Category A commitments. It has also accepted the amendment to TRIPS, and in 
the same framework is promoting important discussions on geographical indica tions, genetic 
resources and traditional knowledge.  
4.163.   Especially noteworthy is its constructive participation in various discussions within the 
Organization in order to help strengthen the inclusive nature of trade and its development 
dimension. For example,  Colombia shares with Nigeria its interest in participating in the group of 
Friends of E -Commerce for Development (FED) and the group of Friends of Investment Facilitation 
for Development, where it promotes, as in all areas, the need to convincingly take a ccount of the 
concerns of our countries.  
4.164.   Moreover, the Secretariat report notes room for improvement, in that Nigeria should make 
headway in complying with obligations related to its participation in the Organization, particularly 
as regards notifications and bindings, above all as they relate to agriculture, anti -dumping 
measures, customs valuation and all areas in general where there are gaps in information.  
4.165.   Regarding economic developments in Nigeria, the Secretariat report makes clear the close 
relations hip between its economic growth and the international price of commodities. After a boom 
period, it now faces a sharp economic downturn which has led it to rethink its trade priorities. For 
this reason, we are closely following the implementation of the am bitious vision 20:2020 and 
Economic Recovery and Growth Plan (ERGP) aimed at making Nigeria one of the top 20 global 
economies by 2020; Colombia is a country that has also been affected by the fall in the value of its 
mineral and energy exports, and it is therefore in our interest to learn of the scope and outcomes 
of the two programmes implemented by Nigeria.  
4.166.   The Secretariat report states that Nigeria must continue its work of adapting its foreign 
trade policies, which is precisely one of the priorities of  the Economic Recovery and Growth Plan. 
The report indicates that at the present time (2017) there is a greater dispersion of tariff 
coefficients than had existed at the time of the previous report (2011), which implies that the 
country's competitiveness i s not uniform in all products and that competitiveness has been lost in 
some cases because of integration into value chains. We consider it important to reconsider the WT/TPR/M/356 • Nigeria  
 
- 30 - 
 
  increases in the MFN tariff levels, particularly due to the pressure on competitiveness already 
exercised by the re -evaluation of the naira.  
4.167.   Another matter that deserves attention concerns the lists of products that cannot be 
imported. The Secretariat report refers to the recent addition of new products which will 
undoubtedly expand the list beyond the 23 products reported.  
4.168.   One aspect of particular interest to Colombia is the pattern of foreign investment. We see 
from the report that Nigeria has an open regime without major restrictions; however, during the 
period under review there was a shar p decline from US$8.9  billion in 2011 to US$3.1  billion in 
2015. We understand that this decline is explained in part by the global downturn, and some of 
our questions to Nigeria seek to obtain more information on what the Government is doing to 
reverse th is situation, for example whether it is considering a reform of the investment regime, 
taxes and sectoral initiatives.  
4.169.   I should like to conclude by emphasizing Colombia's interest in deepening its economic 
relations with Nigeria as a strategic country in A frica. We already have an incipient but interesting 
system of two -way trade, focusing mainly on industrial machinery, which – we hope – will grow in 
the coming years. We wish Nigeria every success in its trade policy review and encourage it to 
continue its  leadership role in current discussions within the WTO.  
RWANDA  ON BEHALF  OF THE AFRICAN  GROUP  
4.170.   Based on information contained in the two Trade Policy Review reports, we wish to make 
the following comments and observations:  
1. First and foremost, we note that d espite the recession under way, Nigeria remains the 
largest economy in Africa. The National report highlights important reforms introduced by 
the current leadership and its commitment to sustaining inclusive growth and improving 
socio-economic development while embarking on robust economic development strategies.  
 
2. In this regard, we note with satisfaction that Nigeria is committed to industrialization and 
structural transformation, which are among the key pillars of the continental overarching 
objectives un der the Africa agenda 2063 – the Africa we want. The foundations for structural 
transformation of the Nigeria 's economy, according to the national report, have been set 
with the "Economic Recovery and Growth Plan " (ERGP), a medium term plan for the period 
2017 to 2020, launched by President Buhari in early April 2017. Its main objectives are to: 
restoring growth, investing in people, and building a globally competitive economy. We are 
confident that the Plan for diversification and Growth by the Federal Min istry of Industry, 
Trade and Investment (MITI plan) – focusing on industry, trade and investment – shall 
contribute to this structural transformation and the legitimate aspirations of the Economic 
Recovery and Growth Plan. The African Group commends the Ni gerian leadership for all 
these sound reforms introduced with a view to addressing the ongoing recession and 
structural challenges.  
 
3. Both reports inform that the recession is a result of the sharp decline of oil prices starting 
from the 3rd quarter of 2014  and posing major challenges to the economy, which started 
slowing down until it entered into a recession in 2016. In this period, the current account 
shifted from a surplus to a deficit; inflation rose fuelled by the devaluation of the naira; and 
the merc handise exports declined sharply to US$33.7 billion in 2016, compared to its peak 
of US$143.2 billion in 2012.  
 
4. Both reports note that the high dependence on oil production is a major factor in the 
slowdown of the Nigerian economy. Oil counts for 90% of ex port earnings and 70% of 
government revenue. The issue of commodity dependence is common to many African 
countries and has negatively affected inclusive growth in the sense that trade doesn 't 
translate into meaningful job creation, and in the worst case sc enario, trade offsets job 
creation. This situation is a wake -up call to all of us, for the urgent need for industrialization, 
diversification and structural transformation in line with the Africa 2063 Agenda.  
 
5. To this end, we welcome the Government 's diver sification plan which will focus on six 
priority sectors namely agriculture, manufacturing, solid minerals, services, construction and WT/TPR/M/356 • Nigeria  
 
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  real estate. More specifically important is the recognition that industrialisation is one of the 
main engines for re -boosting the Nigerian economy. In this regard, we note that the 
manufacturing sector – like in many African countries – is still at a low level, representing a 
meagre share of 9.5% of GDP. Africa has been facing a premature de -industrialisation since 
some deca des (decline in industrial outputs and industrial jobs), which requires to be 
adequately addressed in a consistent manner as exemplified by the Nigerian sequenced 
Industrial Revolution Plan (NIRP) aiming at starting immediately with four industrial groups 
where Nigeria possesses abundance in primary resources. It is imperative for Africa 's 
economies to catch -up on industrial and technological development ladder. We have noted a 
number of Special Economic Zones throughout the country and we hope that togethe r with 
new reforms and policies, Nigeria will be able to achieve this overarching objective.  
 
6. Equally important, we have noted similar efforts in the development of other sectors, 
namely agriculture and services. Both reports inform that the services secto r has become 
the largest contributor to the Nigeria 's economy with a share of GDP at 53.6% in 2016, 
suggesting that the economy  is becoming more service oriented. According to the UNIDO 
Report 2016, most of African countries are becoming services -oriented before registering a 
high level of manufacturing and technological base hence undergoing a pre -mature de -
industrialisation which can be detrimental to the overall development. Therefore, the 
comprehensive reforms undertaken by Nigeria to address challenges  facing all sectors 
(manufacturing, services and agriculture) can help rebalancing the overall economic 
structure and create a solid foundation for technological catch -up. 
 
7. It is our collective hope that with those robust reforms and the commitment of the current 
leadership, the Nigeria 's economy will soon overcome the current recession and will continue 
to engage in a steady economic structural transformation for the benefit of the Nigerian 
people.  
4.171.   I take this opportunity to wish the delegation of Nigeria a very successful Trade Policy 
Review.  
OMAN  
4.172.   Bilateral trade between Oman and Nigeria consists mostly of petrochemical products and 
processed foods. We look forward to exploring further opportunities to expand our trade relations.   
4.173.   Nigeria has a large econ omy with a GDP of approximately half a trillion USD. It enjoys vast 
natural resources, including oil and gas, agricultural and mineral resources. According to the 
Secretariat Report, Nigeria 's industry sector which includes oil and gas has been superseded by its 
services sector, especially telecom and banking. Oman congratulates Nigeria on the progress it has 
made in reducing dependence on natural resources.  
4.174.   During the 10 years Up until 2015, Nigeria 's economy had secured a high average growth 
rate of 7%. However, since then, the growth rate has reduced dramatically to 2.7% in 2015 and 
again to -1.5% in 2016. We understand that this comes as a result of the decline in oil prices. We 
wish Nigeria the best of luck in its efforts to diversify its economy away from hydrocarbons and to 
make it less vulnerable to fluctuations in energy prices.  
4.175.   Nigeria 's foreign trade regime applies MFN tariff rates averaging 12.7% in 2017. This 
represents an increase of 0.8% from 2011 which stood at 11.9%.  Its average bound rate i s 
117.3% and its binding coverage is the low figure of 19.2% of total lines. This stands in stark 
contrast to Article 12 Members who have bound 100% of their tariff lines.   
4.176.   Nigeria is an original M ember of the WTO and a staunch supporter of the multilater al 
trading system. It is an active participant in negotiations and contributes positively at meetings of 
the various WTO bodies. We appreciate Nigeria 's positiv e role in the work of the WTO.  
4.177.   To conclude, the delegation of Oman wi shes Nigeria a very success ful Trade Policy R eview.  WT/TPR/M/356 • Nigeria  
 
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  COSTA  RICA 
4.178.   In the past years, Costa Rica and Nigeria have discovered similarities and common 
interests that have strengthened our relationship in this House and bound our  friendship. We are 
developing M embers facing the same chall enges in a World that is moving fast and that changes 
constantly. We are both tropical countries and understand the trials and effects on our agriculture 
produced by intense weather and by climate change.  
4.179.   As Friends of E -Commerce for Development, we share the understanding of the positive 
impact it has in the development of economies like ours, and how it can adapt and tailor solutions 
for the specific needs of developing and least -developed M embers, creating winning opportunities 
for all. We are both champ ions of this discussion because we share the view that regardless of the 
level of development of a nation, E -Commerce can serve as an instrument to bring together and 
narrow the digital, development and trade agendas; and help us achieve inclusive and sust ainable 
growth.  
4.180.   Nigeria is far bigger in territory than Costa Rica, with a much larger and younger 
population. Conscious of this implicit responsibility, the Government has taken steps to provide 
opportunities to the youth by implementing a structural tran sformation to industrialize  diversify 
and modernize its economy with digital technologies at its core.  
4.181.   Because of their high dependence on oil production and exports, it is uplifting to see the 
efforts made to expand the economic ecosystem, strengthen the Services sector, facilitate their 
integration into global value chains and improve competitiveness and productivity for their MSMEs.  
4.182.   In this same line, the Secretariat 's report states that Nigeria completely removed in 2016 
its fuel subsidies on the groun ds stated by President Buhari that fuel subsidies caused market 
distortions, encumbered investment in the downstream sector, supported economic inequalities, 
and created  a nebulous channel for fraud. Costa Rica welcomes this decision to remove subsides 
on fossil fuels and encourages Nigeria to take further measures to ensure the enduring elimination 
of harmful fossil fuel subsides.  
4.183.   In the spirit of transparency, Costa Rica also appeals that Nigeria continues working on the 
compliance of their WTO obligatio ns presenting the pending notif ications on agriculture, 
anti-dumping, import licensing, rules of o rigin and others.  
4.184.   My delegation submitted questions regarding SPS measures and the ban to importers to 
access foreign exchange. We thank Nigeria for the respo nses which are now being reviewed in my 
Capital and we will come back with follow up comments in case needed.  
4.185.   Chair, as supporters and believers of the Multilateral Trading System, Costa Rica 
encourages  the dynamic engagement of all M embers in the Trade Po licy Review exercise. This 
strengthens the Organization and the system which belong to us, the M embers. In the words of 
the famous African proverb "It Takes a Village To Raise a Child ", it is our duty and our 
responsibility to be active participants of thi s "village " and we remain optimistic that the road to 
Buenos Aires will deliver interesting points of convergence for our future work.  
4.186.   Finally, I wish the delegation of Nigeria a successful Trade Policy Review and anticipate a 
very productive couple of day s. 
THAILAND  
4.187.   Thailand and Nigeria have witnessed astounding bilateral trade decline during the past few 
years. In a span of just 2 years, Nigeria has fallen from being our second largest trading partner in 
Africa in 2014 with total trade valued at almost US $1.9 billion to being ranked 7th in 2016 with 
trade value of US$234 million.  
4.188.   Import wise, a decline in value of Thailand 's import from Nigeria resulted from the steep 
decline in oil prices. On exports, Thailand has experienced sharp drops in all products l isted on the 
notice from Nigeria 's Central Bank dated 23 June 2015, restricting importers of certain goods and 
services from accessing foreign exchange at the Nigerian foreign exchange markets. This has WT/TPR/M/356 • Nigeria  
 
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  resulted in at least 3 of Thailand 's major export pro ducts to Nigeria such as rice, rubbers, and 
plastics declining by an average of 81% from 2014.  
4.189.   We note that Nigeria has experienced a recession in 2016 with a growth rate of -1.5% and 
an inflation rate of 15.7%. We also acknowledge Nigeria 's efforts in dea ling with its economic 
challenges and commend Nigeria for its ambitious Economic Recovery and Growth Plan 2017 -2020 
aiming to make the country one of the top 20 leading global economies by 2020, with focus on 
four priority sectors namely, agriculture, soli d mineral mining, construction materials, and 
manufacturing.  
4.190.   However, industries require much more than planning  and a trade and business friendly 
environment are more conducive to growth than unusually high level of protection offered to 
domestic industri es. We believe that some of the factors that have negatively impact the Nigerian 
economy include unpredictable tariff regime, high costs of doing business, and the continual use of 
import prohibitions and restrictions measures, just to name a few, are all counter -productive to 
attracting investment and spurring industrial growths.  
4.191.   In this review, Thailand submitted a number of questions to Nigeria, covering the policies 
and measures of our interests such as trade in services, standards, tariff reductions on  specified 
quantities of imports of selected products, and import prohibition and restriction measures, some 
of which we believe to be incompatible with Nigeria 's WTO obligations. We appreciate the prompt 
replies provided to our questions, for which we wil l study carefully with great interest.  
4.192.   In conclusion, Thailand would like to express its appreciation to the Nigerian delegation for 
today 's presentation and wish Nigeria every success in its 5th Trade Policy Review.  
KENYA  
4.193.   We commend Nigeria for its overal l economic performance in recent years. Indeed, 
according to the secretariat report, Nigeria experienced tremendous economic growth rate of 
about 7 per year in the decade leading up to 2015 due to favourable world prices of oil and nat ural 
gas. However, Ni geria recorded a 2.7% dip in GDP in 2015 and thereafter slipped into recession in 
2016, recording a negative economic growth of rate of 1.5 % after major falls in oil production and 
a global drop in commodity prices.   
4.194.   In this regard, we commend the Governm ent of Nigeria for introducing the economic 
diversification initiatives away from high dependence on oil production and aimed at building a 
competitive manufacturing sector, and transformation of the agriculture sector. There is no doubt 
that these initiat ives will address vulnerability of dependence on oil revenues for growth.  
4.195.   Agriculture remains an important sector to the Nigerian domestic economy contributing 
23% of GDP and providing a livelihood to over 60% of the Nigerian population. However, we note 
with concern that Nigeria 's agricultural sector has been in decli ne over the past four decades. We 
therefore appreciate the authorities ' efforts in implementing the two new policies - the Agricultural 
Transformation Agenda (ATA) and the Agricultural Promoti on Policy which are aimed at 
transforming agriculture from a development -oriented to an agribusiness -focused industry based 
on integrated value chains.  
4.196.   We also note that services sector is the largest sector of the economy, accounting for 
about 60 % of tota l GDP in 2015 with Information and Communication being the fastest growing 
segments in services accounting for about 10 percent of the total output over the review period. 
We encourage Nigeria to sustain the reform process in the services sector in order t o realise full 
potential of this important sector.  
4.197.   Trade continues to play an important role in Nigeria 's economic development. We are 
therefore pleased to highlight that during the review period, Nigeria has undertaken various 
reforms to deregulate, priva tize and liberalize its economy. We also note that Nigeria committed to 
pursue a liberal trade policy regime intended to integrate the country into the global trading 
system with a view of maximizing the advantages of globalization.  WT/TPR/M/356 • Nigeria  
 
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  4.198.   We commend Nigeria for  its commitment to the multilateral rules -based trading system as 
demonstrated through pro -active and constructive role in the work of the WTO including 
negotiations. Nigeria has also recognised the important role of regional integration and is an active 
member of the African Group, the African Caribbean and Pacific (ACP) Group and the G90 at the 
WTO.   
4.199.   We note that Nigeria is among the African countries that have ratified the trade facilitation 
agreement and has implemented important tools to promote trade  facilitation. We therefore 
encourage Nigeria to continue improving its customs procedures which will no doubt contribute in 
lowering trade costs.  
4.200.   On bilateral front, I am pleased to note that the bilateral economic relations between 
Kenya and Nigeria rem ain strong. Kenya and Nigeria signed several bilateral agreements during 
the period under review with a view to increasing bilateral trade and expanding opportunities for 
investments.  
4.201.   During the review period, total trade between the  two countries doubled  from 
US$20.3  million in 2010 to US$40.5 million in 2015. We will therefore, continue to strengthen our 
trade and economic ties with Nigeria in order to further expand and deepen bilateral trade and 
economic relations between the two countries.  
4.202.   Finally, K enya submitted questions to Nigeria on some of the issues contained in the 
review report. We appreciate for the answers which we shall study and revert in case we may need 
further clarification.  
4.203.   In conclusion, we wish the delegation of Nigeria a very su ccessful Trade Policy Review.  
EGYPT  
4.204.   At the outset, we align ourselves with the statement delivered by the delegation of Rwanda 
on behalf of the African Group.  
4.205.   As the Secretariat report indicated, Nigeria 's GDP almost doubled from US$270 billion in 
2013 to US $510 billion in 2014, and its economy has become more services driven. This sharp 
increase in GDP is mainly due to re -estimation of the contributions of certain sectors of the 
economy which were previously not captured or underreported.  
4.206.   During the decade o f 2005 to 2014, Nigeria 's annual growth in economy was about 7%, 
mainly caused by high oil prices, unfortunately, in 2015 a sharp drop in the annual growth 
occurred to reach 2.7%, followed by -1.5% in 2016 in a recession year mainly due to the large 
drop i n oil prices. Despite that oil contributes with only 10% to GDP, oil still accounts for about 
90% of export earnings and 70% of government revenue.  
4.207.   Domestic inflation has generally been above 9%, with a peak of 15.7% in 2016. It has 
been fuelled by devalua tion of the naira accumulatively by about 100%.  
4.208.   The economic recession and the subsequent devaluation of the Nigerian naira pegged to 
the US dollar represented a serious challenge for the Nigerian Government, which forced them to 
take some bold decisions w ith a view to containing outflows of international reserves and 
"resuscitating " domestic industries.  
4.209.   In the period under review, the country strategic priority in economic policy was structural 
transformation to diversify, industrialize and modernize the N igerian economy in order to urgently 
address the vulnerability of dependence on oil revenues for growth.  
4.210.   In order to achieve these objectives along with facing the challenges to restore robust and 
sustained inclusive growth, enhance welfare, reduce poverty  and accelerate job creation, the 
Nigerian Government launched in April 2017 the Economic Recovery and Growth Plan (ERGP), a 
medium term plan for the period 2017 to 2020, aiming at structural transformation of the 
economy, Egypt commends Nigeria for its co mprehensive ambitious plan, and wishes them all 
success in achieving their ultimate goals out of it.  WT/TPR/M/356 • Nigeria  
 
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  4.211.   We note Nigeria 's effort to diversify its economy away from oil by building a competitive 
manufacturing sector, for which the country identified four prior ity sectors for its economic 
diversification.  
4.212.   We commend Nigeria for the developments took by the Nigerian Customs Service (NCS) 
which undertook several reforms in 2013 with a view to expediting the release and clearance of 
goods in order to facilitate tra de. 
4.213.   On the other hand, we also commend Nigeria for their investment regime as it is largely 
liberal, with 100% foreign ownership allowed in all except for petroleum sector.  
4.214.   Nigeria is an original Member of the WTO and always showed great commitment towards  
strengthening the multilateral trading system, through its positive contribution and engagement to 
the Doha negotiations, and their active role in the African Group, we value Nigeria efforts and 
looking forward to further cooperating with them to advance the negotiation in the remaining 
issues in DDA towards achieving satisfactory outcome for MC11.  
4.215.   On the bilateral front, Egypt and Nigeria have been sharing a historical steady trade 
relationship for decades;  total trade remained almost on the same level du ring the last three 
years, which reached around US$100 million. Moreover, we have number of Egyptian companies 
investing in Nigeria mainly in construction and telecommunication sectors.  
4.216.   Finally, Egypt strongly commends Nigeria for achieving an impressive e conomic 
performance in the period reviewed considering the many challenges faced, and we wish the 
delegation of Nigeria a successful Trade Policy Review.  
INDONESIA  
4.217.   Indonesia commends Nigeria for its attempt to diversify away from oil, and build a 
competiti ve manufacturing sector. Additionally, we praise Nigeria for incurring growth in tis 
services sector amidst a slow down at the goods ' front. And such growth is in itself a depiction to 
Nigeria 's success in diversifying its economy.  
4.218.   Indonesia notes with gre at interests Nigeria 's four priority sectors for its economic 
diversification efforts, namely agriculture, solid mineral mining, construction materials, and 
manufacturing. These four sectors are among those that can act as a platform in raising trade 
coope ration between Indonesia and Nigeria.  
4.219.   In the four years between 2012 and 2016, bilateral trade flows between Indonesia and 
Nigeria demonstrated a negative trend. And this trend would continue unless Nigeria removes 
some unnecessary barriers to trade, which  includes tariff measures being applied to finished 
products coming from Indonesia; and non -tariff measures such as the import prohibition list being 
applied to Indonesian furniture, foot wear, soap/detergent, cooking oil, cement – to name a few.  
4.220.   In this r egard, we have submitted a number of written questions related to our concerns 
on Nigeria 's trade and trade -related policies and practices. We look forward to receiving the 
answers to these questions. We also look forward to a follow -up communication, in o rder to seek 
further clarification to the answers to these questions, if so required.  
4.221.   Indonesia wishes Nigeria every success in their fifth Trade Policy Review.  
PHILIPPINES  
4.222.   Nigeria is the biggest economy in Africa and the 26th largest in the world. It is t he leading 
oil exporter in the region with the largest natural gas reserves.  
4.223.   Despite the challenges brought by the decline in oil prices in the third quarter of 2014, 
Nigeria has set the foundations for structural transformation of their economy through it s 
Economic Recovery and Growth Plan (ERGP), which sets both the strategic and sectoral 
dimensions for diversifying their economy.  WT/TPR/M/356 • Nigeria  
 
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  4.224.   The Philippines appreciates Nigeria 's Diversification Plan, which features Micro, Small and 
Medium Enterprises (MSMEs) as one of their key pillars of growth. Through the Small and Medium 
Enterprises Development Agency of Nigeria (SMEDAN), policies that promote and facilitate the 
growth and development of MSMEs are initiated.  
4.225.   The Philippines acknowledges Nigeria 's support in recog nizing the important role of MSMEs 
in achieving inclusive and sustainable growth and deriving maximum benefit from trade. Hence, 
together with the other members of the Friends of MSMEs group in the WTO, the Philippines looks 
forward to engage with Nigeria in an informal dialogue to promote the participation of MSMEs in 
international trade.  
4.226.   In closing, the Philippines would like to wish H.E. Mr. Chiedu Osakwe  and the entire 
delegation a successful 5th T rade Policy R eview. We would also like to thank Ambassad or Yee 
Woan Tee of Singapore for her insightful comments as discussant, and the Secretariat for 
preparing a comprehensive report.  
BENIN 
4.227.   The delegation of Benin welcomes the efforts made by Nigeria since its last trade policy 
review to undertake the restruc turing of its economy as from 2013.  
4.228.   Nigeria, the largest economy in Africa, is also the continent's leading oil exporter and one 
of the most important economic hubs of the Economic Community of West African States 
(ECOWAS).  
4.229.   Out of concern to transform the structure of its economy, Nigeria adopted the Economic 
Recovery and Growth Plan (ERPG), a medium -term four -year plan for the period 2017 -2020. The 
plan integrates the diversification and growth initiative of the Federal Ministry of Industry, Trade 
and Inve stment, which is geared to industrial development and the promotion of trade and 
investment.  
4.230.   To fulfil its priority objectives of diversification and modernization, Nigeria has undertaken 
reforms involving systemic and sectoral initiatives and institutiona l support.  
4.231.   In the field of multilateral trade, Nigeria makes an important contribution to the work of 
the WTO and plays an active role in the negotiations under the Doha Development Agenda, 
seeking to ensure that the development dimension is taken into acc ount. 
4.232.   At the bilateral level, Benin maintains excellent economic, commercial, social and cultural 
relations with Nigeria.  
4.233.   The two countries share a border of 704 km, on each side of which commercial exchanges 
beneficial to the economy and populations of bo th countries are developed. The most recent 
meeting of the Benin -Nigeria Joint Grand Commission was held in December  2014 and produce 
important and mutually beneficial commitments, particularly in the fields of trade, energy, 
cross-border security, educati on, culture and promotion of youth activities.  
4.234.   The delegation of Benin congratulates its Nigerian counterpart for the initiatives 
undertaken to achieve the structural transformation and diversification of its economy, as well as 
the sectoral reforms carrie d out in the business environment.  
4.235.   We congratulate the team of the Nigerian Permanent Mission to the WTO on its 
commitment to the work of multilateral trade negotiations and its constructive interactions with 
other delegations, particularly those of the Af rican Group.  
4.236.   We take this opportunity to inform WTO Members and technical and financial partners that, 
in the context of the trade facilitation initiatives, Nigeria and Benin have initiated an integrated 
project of major economic and social significance wi th a view to building a bridge on the 
Okerete -Saki corridor. This infrastructure will contribute to managing the movement of goods and 
persons in this corridor.  WT/TPR/M/356 • Nigeria  
 
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  4.237.   The delegation of Benin thanks the WTO Secretariat and the Government of Nigeria for the 
very i nformative reports drawn up at this trade policy review meeting on Nigeria. It wishes Nigeria 
every success and a successful review of its trade policies.  
INDIA  
4.238.   Nigeria is the biggest economy in Africa and a leading oil exporter wi th large natural gas 
reserves. We note from the Secretariat 's report that as a result of its rebasing exercise in 2014 
GDP o f Nigeria almost doubled to US$ 510 billion and services emerged as do minant contributor to 
the GDP. While the economy of Nigeria recorded a strong growth of around 7% per year for a 
decade till 2015, due to the sharp decline in global oil prices the growth slowed down to 2.7% in 
2015 and the economy furth er went into recession in 2016.  The falling oil prices pose a major 
challenge for the Nigerian economy with  a sharp d ecline in exports and revenue. The other 
challenges include diversification of the economy, boosting productivity, generating jobs for a large 
young population and addressing poverty and wealth inequality. We commend the Nigerian 
Government for t he efforts it is making to address these challenges which include launching the 
Economi c Recovery and Growth Plan for "diversification and growth " to bring about structural 
transformation, strengthen infrastruct ure and modernize the economy. The Nigerian G overnment 
has also undertaken various initiatives for enabling business environment, attracting investments 
and focussing on priority sectors namely agriculture, mining, construction materials and 
manufacturing.   
4.239.   Nigeria also plays a leading role in the E conomic Community of West African States 
(ECOWAS) for deepening regional integra tion and trade liberalization. India as an observer of the 
ECOWAS looks forward to strengthening trade and economic ties wi th all countries in the region.  
4.240.   Nigeria and India sha re close, w arm and friendly age old ties. Economic and trade relations 
form an important pillar of our multifaceted relationship as India is amongst Nigeria 's largest 
trading partners and Nigeria is India 's second larg est trading partner in Africa. India i s also a long 
standing and dependable partner for Nigeria as it embarks on greater industrialisation, 
modernization of economy and its "Green Alternative " to achieve self -sufficiency in agriculture and 
produce quality agri cultural products for exports.  Bilateral trade betw een both countries stood at 
US$9.43 billion in 2016 -17. The fall in global commodity prices and the recession in Nigeria have 
had a dampening effect on the bilateral trade, however, there is immense underlying potential to 
strengthen trade  between both countries in areas including oil and petroleum products, 
automobiles, pharmaceuticals, transport equipment , consumer goods, engineering goods, 
machinery and agricultural products. We are confident that once the import restrictions and ban on 
access to foreign exchange on some commodities is lifted our bilateral tr ade would get a further 
fillip. Indian investments into Nigeria have continued to grow steadily with the presence of leading 
Indian companies in telecommunications, automobiles, infor mation technology, consumer goods, 
health care, pharmaceuticals, power a nd infrastructure development. Agriculture is also merging 
as an important area for bilateral trade and investment in areas like contract farming, rice 
production , pulses and milk prod uction.  
4.241.   Under the Development Partnership Cooperation with Nige ria India has extended a 
US$100  million credit line for projec ts in the states of Enugu – US$40 million, Cross Rivers – 
US$30 million and Kaduna – US$30 million.  For capacity building in human resources , India has 
also been regularly offering slots to professionals from Nigeria under India 's Technical Economic 
Cooperation ( ITEC) programme.  
4.242.   To conclude, Nigeria is blessed with abundant natural resources including cultivable land, 
oil and natural gas and minerals and has tremendous potential for gr owth.  We look forward to 
working closely with the authorities of Nigeria for further expanding and harnessing the vast 
potential of our trade and inves tment ties for mutual benefit. We wish the delegation  of Nigeria a 
productive and successful TPR.  
BURUNDI  
4.243.   With reference to the information contained in the reports provided by Nigeria and the 
WTO Secretariat, my delegation notes that Nigeria is going through a period of economic WT/TPR/M/356 • Nigeria  
 
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  recession, due mainly to the  fall in commodity prices, especially the crude petroleum price. 
Nevertheless, Nigeria continues to be Africa's largest economy.  
4.244.   Burundi also notes that Nigeria has undertaken numerous reforms aimed at the structural 
transformation of its economy, in parti cular through its vision of establishing the national Economic 
Recovery and Growth Plan (ERGP), a medium -term plan for the period 2017 -2020, accompanied 
by its policy of diversification of other key sectors so as no longer to depend solely on oil. My 
deleg ation urges Nigeria to pursue the objectives established for the reinvigoration of economic 
growth.  
4.245.   My delegation welcomes the fact that agriculture remains a pillar of the Nigerian economy 
even if it has declined somewhat in recent years. Consequently, Ni geria continues to depend on 
imports to meet domestic demand for food, an issue common to many African countries. Burundi 
notes that agriculture remains a preeminent priority for Nigeria, given that it continues to be a 
sector of vital importance for the m asses in Africa.  
4.246.   Aside from its national policies, Nigeria is also an important player in regional trade policies 
and in the multilateral trading system. The government report shows that Nigeria has always laid 
stress on the importance of the development d imension of the rules -based multilateral trading 
system and on the need for adequate technical and capacity -building assistance tailored to the 
trade needs of WTO Members. In this regard, my delegation welcomes Nigeria's active 
participation in the negotia tions conducted under the Doha Development Agenda and other WTO 
fields of activity. It also congratulates Nigeria on its involvement in the negotiations for the 
Continental Free Trade Area (CFTA) which, once implemented, will contribute to Africa's 
integra tion into multilateral trade.  
4.247.   Nigeria's ratification of the WTO Trade Facilitation Agreement demonstrates the country's 
resolve to promote transparency in the field of trade. Nigeria has accepted the Protocol amending 
the TRIPS Agreement; moreover, it has notified SPS and TBT measures up to 2015, even though it 
is still lagging behind in other WTO areas of activity such as agriculture, preshipment inspection, 
anti-dumping measures, import licensing, quantitative restrictions, rules of origin and customs 
valuation.  
4.248.   My delegation commends the efforts deployed by Nigeria and its firm commitment to 
promoting the multilateral trading system, and encourages it to implement the WTO agreements 
already ratified.  
4.249.   To conclude, Burundi is delighted to have excellent rel ations of friendship and cooperation 
with Nigeria, which have been enhanced by the exchange of visits by high -level authorities, 
training exchanges and other forms of technical cooperation.  
4.250.   My delegation would like these relations to be strengthened and to  thus lead to the 
implementation of the agreements signed between our two countries.  
4.251.   My delegation wishes Nigeria every success in its fifth trade policy review.  
MONTENEGRO  
4.252.   Montenegro would like to associate itself with the statement of the European Union.  
4.253.   Montenegro wishes to draw attention to the positive reports of the Government of Nigeria 
that since Nigeria 's last Trade Policy Review in 2011, there have been significant changes in 
Nigeria 's economic and trade policies, as wel l as the political environm ent. In particular, 
Montenegro congratulates Nigeria on a peaceful transfer of power from one civilian government to 
another through democratic elections in 2015. Democracy, the rule of law and transparency are 
foundational to a successful economy – in particular investor confidence.  Montenegro firmly 
supports the values of democracy, the rule of law and transparency and is very pleased to read of 
Nigeria 's commitment in this regard. We comment Nigeria for its proactive role in the WTO and its 
commitment to  participate in the rule based multilateral trading system including recent 
ratification of the TFA and Protocol amending the TRIPS agreement. In addition, Montenegro WT/TPR/M/356 • Nigeria  
 
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  appreciates Nigeria 's regional integration efforts both within the African Union and in t he ECOWAS 
as its founding member.  
4.254.   As already mentioned, Nigeria is the largest oi l producer in Africa and the sixth  largest in 
the World. Nigeria 's economy is highly dependent on oil and natural gas and with recent decline in 
oil prices; Nigeria 's economy  has been significantly affected.  In this regard, Montenegro notes that 
while in decade leading up to 2015, Nigerian economic growth was approximately 7% per year, in 
2015, Nigerian economic growth slowed to 2.7%, and that the economy fell into recession i n 2016 
with a  growth rate of negative 1.5%. Montenegro further notes that the collapse in oil prices 
further led to a significant decline in exports for Nigeria.   
4.255.   Montenegro recognizes the challenges in significant falls in oil and natural gas prices, but  
notes that the Government of Nigeria has stated its firm aim to  make Nigeria one of the top 
20 leading economies by 2020 and to this end that it has identified priorit y sectors for 
diversification. Montenegro is convinced that diversification serves a fun damentally important role 
to all economies and looks forward to hearing as to Nigeria 's progress in its structural economic 
transformation and development of six industrial zones in its future Trade Policy Reviews. In 
addition, we are encouraged by the Fed eral Government 's target to achieve up to 75% access to 
electricity by connecting an average of 1.5 million households annually. We commend the 
Government for its Agricultural promotion policy and plans to set up a new Anchor Borrower 
Program under which f armers would be given financial assistance through the bank loan in order 
to increase its overall production of priority commodities.  
4.256.   Of particular interest to Montenegro is Nigeria 's effort to prioritize tourism as one of the 
key drivers  of growth and di versification.  Although the Government of Nigeria reports that the 
tourism industry is currently struggling with global levels of awareness as to the tourist attractions 
in Nigeria, as well as (among other matters) under -developed infrastructure and securi ty 
challenges, Montenegro encourages Nigeria to continue its positive work on developing t he tourist 
industry and tourist –related industries. As well as contributing to a State 's economy and providing 
employment for regions across a State, tourism is an im portant way of maintaining and developing 
important national cultures. Montenegro stands ready to share its experience in developing 
historic, religious and eco -adventures tourism with National Tourist Development Corporation of 
Nigeria.  
4.257.   In conclusion, Mo ntenegro is looking forward to continuing excellent and constructive 
engagement with the Government of Nigeria in Geneva. We wish Nigeria every success in its fifth 
Trade Policy Review.  
KINGDOM  OF SAUDI  ARABIA  
4.258.   Despite the daunting challenges and the econom ic recession caused by the sharp decline in 
oil price in mid -2014, Nigeria 's economy is expected to grow by about 1% in 2017 and 2.5% in 
2018, based on the expected increase in oil output, the strong performance in agriculture, and the 
accelerated implemen tation of public and social investment projects by the Federal Government.  
4.259.   The Kingdom of Saudi Arabia trusts that the effo rts undertaken by the Nigerian 
Government to rebuild stronger macroeconomic policies will continue to foster economic recovery.  
4.260.   Nigeria is to be commended for its Economic Recovery and Growth Plan (ERGP), which 
focuses on economic diversification driven by the private sector, and government initiatives to 
strengthen infrastructure —including the recently adopted power sector recovery p lan.  
4.261.   We also welcome the measures undertaken by Nigeria to diversify its economy away from 
oil by building a competitive manufacturing sector and a strong services sector supported by an 
enabling business and investment environment. We believe strongly th at these structural reforms 
will facilitate integration into global value chains (GVCs), boost productivity and competitiveness 
which will lead to sustained and inclusive growth.  
4.262.   Saudi Arabia and Nigeria enjoy a friendly and substantive relationship underp inned by 
commercial ties and supported by shared membership in the Organization of the Petroleum WT/TPR/M/356 • Nigeria  
 
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  Exporting Countries (OPEC). Trade exchange between the two countries surpassed US$173 million 
in 2015.  
4.263.   During the high level official visit of a delegation of  Saudi businessmen headed by the 
Chairman of the Council of Saudi Chambers to Nigeria in September 2016, the two countries 
expressed their keen interest to boost cooperation in the area of investment, particularly in the 
fields of mining, agriculture, live stock, infrastructure, transportation, communication, energy 
supply and others.  
4.264.   The Kingdom of Saudi Arabia looks forward to continuing the very close working 
relationship with Nigeria, in and outside this organization, to reinforce bilateral and global tr ade in 
a fair and inclusive manner.  
4.265.   I wish the entire delegation of Nigeria a very successful Trade Policy Review.  
SRI LANKA  
4.266.   My delegation recognizes the significant efforts and achievements made by Nigeria over 
the review period. We believe that Nigeria a s one of the leading economies in the African region, 
with sound and consistent economic policies adopted with the proposed structural reforms, would 
positively contribute to accelerate its economic growth. We noted the Nigeria 's economic policy 
developmen t including structural reforms, products diversification, investment in human capital , 
etc. with a view to diversifying the economy away from oil dependence. We recognize Nigeria as 
one of the leading oil exporter, the largest natural gas reserve owner, as  well as a country with a 
very young population in the African continent. With the Economic Recovery and Growth Plan 
(ERGP) and participation in global value chains we believe that they can achieve expected 
objectives in developing the economy.  
4.267.   Further, w e noted the trade policy improvement in the country; reforms and plans for 
improving customs clearance process with the establishment of an electronic clearance system. In 
line with the WTO system, Nigeria has become a Party to the WTO Trade Facilitation A greement 
and has accepted the Protocol amending the TRIPS Agreement in January 2017. It is noteworthy 
that Nigeria 's active participation during the final phase of the trade facilitation negotiations, 
extending assistance to Chair in reaching consensus amo ng WTO members. We have also noted 
Nigeria 's active engagement in e -commerce applications.  
4.268.   Let me briefly reflect on the bilateral trade and other economic relations between two 
countries. Although the total trade between the two countries remains relativ ely low, it has shown 
a continuous growth in the recent past. Sri Lanka 's total expo rt to Nigeria registered at 
US$8 million in 2016 with highest contribution from Ceylon Tea. Export of Ships, boats and 
floating structures have become the second dominant i n 2016.  
4.269.   In the multilateral front, both Sri Lanka and Nigeria share similar views on Electronic 
Commerce and believe that E -Commerce is a new reality for businesses and it can be leveraged to 
support development. Both countries are members to the like -minded group of Friends o f 
E-Commerce for Development (FED) with nine other WTO members, including the recently joined 
Republic of Moldova.   
4.270.   In concluding, my delegation appreciates Nigeria 's highly valued contribution to the 
multilateral trading system and its active engagement in the negotiations in the WTO. We sincerely 
wish the Nigerian delegation a successful deliberation on its f ifth Trade Policy Review.  
GHANA  
4.271.   Ghana associates with the statement  made by Rwanda  on behalf of the African Group.  
4.272.   Ghana and N igeria have had long standing bilateral trade and economic relations dating 
back to the colonial era.  
4.273.   COMTRADE data showed that bilateral non -oil trade between Nigeria and Ghana increased 
from less than US$15million before 2000 to more than US$130million i n 2010, while non -oil WT/TPR/M/356 • Nigeria  
 
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  exports from Ghana to Nigeria increased from less than 0.5 % in the late 1990s to about 1.9 % of 
its global exports in 2010.  
4.274.   In 2013 for instance, Ghana 's exports to Nigeria amounted to over US$141 million 
whereas, Imports from Nigeria  amounted to over US$351 million during the same period, showing 
a deficit of about US$200 m illion. Indeed, the balance of t rade between the two countries has 
always tilted in favour of Nigeria.  
4.275.   In the financial services sector, Nigeria 's banks have penet rated Ghana in numbers, 
whereas only one bank from Ghana, the UT bank, has operations in Nigeria.  
4.276.   It has been indicated that trade between the two countries has the potential to grow in 
leaps and bounds if certain critical hindrances, such as a list of ba nned imports that affects exports 
(including those from other ECOWAS member S tates), cumbersome processes of product 
registration, less collaboration between the two countries ' standard agencies and prohibition 
factors that exporters had to continuously co ntend with, were addressed.  
4.277.   At the Sub -regional level, b oth countries are members of the West African Regional 
Economic Group, the Economic Community of West Africa States (ECOWAS). As a founding 
member of the ECOWAS, Nigeria is fully engaged in the implem entation of the regions ' Common 
External Tariff (CET) as well as the ECOWAS Trade Liberalization Scheme (ETLS), all geared 
towards a deeper integration of the sub region.  
4.278.   The two economies, being also the dominant in the sub -region, have been spearheading 
the formation of the second single currency in West Africa, aside the Francophone 's CFA franc. 
Together the two countries control about 61 % of the population and 68 % of Gross Domestic 
Products (GDP) of the sub -region.  
4.279.   At the Multilateral level, Ghana notes  Nigeria 's original M embership of the WTO and its 
active participation in all its activities.  
4.280.   Nigeria, as a developing country Member, has continuously emphasized the importance of 
the development dimension to the rules -based Multilateral Trading System, and the need for 
adequate technical assistance and capacity building support specifically tailored to the trade and 
development needs of individual countries.  
4.281.   On implementation of WTO commitments, Ghana notes Nigeria 's ratification of the WTO 
Trade Facilit ation Agreement and acceptance of the Protocol amending the TRIP S Agreement, on 
20 January 2017 and  on 16 January 2017, respectively.   
4.282.   Coming to the review r eports, a ccording to the Secretariat report, Nigeria is the 26th 
largest economy in the world, and  the biggest in Africa where it is the leading oil exporter, with the 
largest natural gas reserves. As a result of its 2014 rebasing exercise, Nigeria 's GDP almost 
doubled from US$270 billion in 2013 to US$510 billion in 2014, and its economy has become mo re 
services driven, with the sector contributing about 61% of GDP in 2016.  
4.283.   It is encouraging to note that Nigeria 's GDP increased by about 90% as a result of its 
re-estimation of the contributions of some sectors of the economy such as telecommunications, 
entertainment, and retail, which were previously not captured or were underreported, while the 
informal sector was re -estimated to account for about 44% of GDP.  
4.284.   The reports also note that Nigeria benefits from preferential access for its petroleum to the 
US market, through the African Growth and Opportunity Act (AGOA) platform.  
4.285.   Despite the overall strides made on the economic front, and the numerous initiatives 
Nigeria is undertaking to revamp its economy, my delegation notes that Nigeria 's trade -related 
legislation has remained largely unchanged with many laws still outdated. Several bills, including 
those on competition, the metallurgical industry, postal services, and transport, were also awaiting 
approval by the National Assembly.  WT/TPR/M/356 • Nigeria  
 
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  4.286.   My delegation encoura ges Nigeria to consider reviewing the 41 categories of imports for 
which access to foreign exchange from the CBN is needed, as well as the import prohibitions and 
restrictions on various grounds, including protection of domestic industries, with a view to doing 
away with them since these constitute enormous hindrance to trade and effective ECOWAS 
integration.  
4.287.   Finally, Ghana would like to encourage Nigeria to review its policies, programmes, 
measures and mechanisms to bring down the rather high cost of doin g business in the country and 
to address the burdensome Customs procedures and documentation requirements for the benefit 
of its trading partners.  
4.288.   In conclusion, my delegation congratulates Nigeria on its fifth Trade Policy Review, and 
wishes them a succes sful outcome.  
CAMBODIA  ON BEHALF  OF THE LDC GROUP  
4.289.   During its last review period from 2011 to 2017, Nigeria experienced a period of strong 
growth with an annual GDP growth rate of about 7% until 2014, followed by a period of slowdown 
and recession in 2015 a nd 2016.  
4.290.   This evolution, reported in both reports, is mainly due to the collapse of oil prices following 
the slowdown in global demand. Thus, this sudden reversal of macroeconomic conditions has 
revealed that Nigeria has too much dependency on resources fr om oil exports – 90% of total 
exports and 80% of government revenues.  
4.291.   Therefore, Nigeria has recently undertaken the implementation of a National Economic 
Recovery and Growth Plan (ERGP) in support of previous change in the structure of the economy.  
4.292.   The Na tional Plan for Economic Recovery and Growth (2017 -2020), launched by the 
President of the Federal Republic of Nigeria, Mr. Buhari, on 5 April, is based on diversification, 
industrialization and modernization of the Nigerian economy.  
4.293.   In this context, trade  has obviously been identified as one of the main growth driver. As a 
result, the Federal Ministry of Industry, Trade and Investment chose to focus on six areas : 
(i) enabling favourable  conditions for business activity; (ii) implementing an Industrial Revo lution 
Plan; (iii) developing micro, small and medium -sized enterprises; (iv) implementing an Investment 
plan for FDI, Portfolio and Domestic Direct Investment; (v) negotiating trade agreements to 
enlarge market access for Nigerian exporters of goods and s ervices; and (vi) developing a Digital 
Economy Project.  
4.294.   The formalization of these six fundamental pillars intends to promote diversification, 
industrialization and growth in Nigeria. In addition, the idea is to invest in Nigeria 's human capital 
and to bui ld a globally competitive economy – aiming to become one of the top 20 leading 
economies by 2020, as pointed out in the Secretariat report.  
4.295.   In order to reduce the dependency of the economy vis -à-vis oil receipts and for achieving 
its objectives, diversific ation efforts and investment efforts will focus in particular on agricultural, 
manufacturing, solid minerals, services, construction and real estate sectors.  
4.296.   The Government is also engaged in a process of adoption by the National Assembly of 
necessary laws  to accompany the structural reforms, as well as the operationalization of an 
infrastructure fund to finance and manage means of transport, access to energy and water – which 
represent prerequisites for the modernization of the Nigerian economy and for its  integration into 
regional and global value chains.  
4.297.   Despite the important challenges facing Nigeria, we express our confidence in the country 's 
capacity to achieve its objective. The LDC Group wishes Nigeria full success in its initiatives and a 
successful  trade policy review.  WT/TPR/M/356 • Nigeria  
 
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  CÔTE  D'IVOIRE  
4.298.   The delegation of Côte d'Ivoire associates itself with the statement made by Rwanda on 
behalf of the African Group.  
4.299.   Noting with satisfaction Nigeria's impressive economic growth during the period 
2010-2015, Côte d'Ivoir e welcomes the country's commitment and determination to continue the 
modernization and structural transformation of its economy through the adoption of the Economic 
Recovery and Growth Plan (ERGP) for 2017 -2020, spearheaded by the Federal Ministry of 
Industry, Trade and Investment (FMITI) Plan for diversification, modernization and growth.  
4.300.   It supports this highly admirable choice of structural transformation, which constitutes one 
of the strategic priorities of Nigeria's economic policy aimed at diversifyi ng, industrializing and 
modernizing its economy in order to urgently and significantly reduce its structural vulnerability 
caused by its heavy dependence on petroleum export earnings for economic growth.  
4.301.   The delegation of Côte d'Ivoire welcomes with great interest the Nigerian Government's 
goal of using Special Economic Zones (SEZs) as models to overcome the limitations to domestic 
manufacturing and supply constraints in respect of infrastructure, power supply and input costs, in 
order to increase competiti veness and hence profitability.  
4.302.   The delegation of Côte d'Ivoire supports the Nigerian Federal Government's launching of a 
series of programmes, in the field of agriculture, to reduce constraints faced by farmers, in 
particular through the Growth Enhancemen t Support (GES) scheme, the Commercial Agricultural 
Credit Scheme (CACS) and the Anchor Borrowers Programme and the Nigeria Incentive -based 
Risk-sharing System for Agricultural Lending (NIRSAL).  
4.303.   Côte d'Ivoire welcomes and commends the project adopted by th e Nigerian Government 
aimed at promoting an intelligent digital economy in Nigeria through a programme designed to 
achieve growth based on an increase of at least 10% in the share of information and 
telecommunication technologies (ITCs) in GDP and the crea tion of at least 5  million jobs during the 
period 2017 -2026.  
4.304.   My delegation is delighted with the excellent economic and trade relations that exist 
between Côte d'Ivoire and Nigeria, which are helped by both countries' membership of the 
Economic Community o f West African States (ECOWAS).  
4.305.   The trade balance between our two countries currently shows a surplus in favour of Nigeria 
which is, moreover, the main supplier of Côte d'Ivoire.  
4.306.   Côte d'Ivoire's exports to Nigeria include essential oils, palm oil, processe d coffee, oilseeds, 
cola, rubber, miscellaneous chemicals, plastics and petroleum products. Its imports from Nigeria 
include dairy products, beverages, tobacco, plastics, rubber, crude petroleum and petroleum 
products, chemicals, cotton, electrical equipme nt, iron, cast iron, steel and steel products, paper 
and paperboard, and road transport equipment.  
4.307.   The structure of trade is therefore relatively diversified.  
4.308.   Given the existing trade potential that could be exploited in various fields between our 
two countries, an improvement in the business environment through the implementation of 
multilateral and regional commitments could contribute significantly to stimulating and increasing 
the volume of reciprocal trade.  
4.309.   Thus, the delegation of Côte d'Ivoire hopes t hat this fifth trade policy review of Nigeria will 
be successful and that the ensuing measures to improve and strengthen the foundations of the 
Nigerian economy will help to boost and consolidate the multisectoral cooperation between 
Côte d'Ivoire and its brother country to the benefit of their populations.  WT/TPR/M/356 • Nigeria  
 
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  PAKISTAN  
4.310.   Nigeria is the world 's 26th largest economy, and the biggest in Africa. It is Africa 's leading 
oil exporter, with the largest natural gas reserves. Nigeria 's has a GDP of US$510 billion, and 
recently, its economy has become more services dri ven (about 61% of GDP in 2016).  Nigeria 's 
economy recorded strong growth of about 7% per year in the decade leading up to 2015. 
However, the sharp decline in oil prices since 2014 has posed major challenges t o the economy.   
4.311.   Pakistan appreciates Nigeria 's Vision 2020 and its Economic Recovery and Growth Plan 
(ERGP) 2017 -2020 which aims to make the country one of the top 20 leading global economies by 
2020. Nigeria has identified four priority sectors for its e conomic diversification efforts: agriculture, 
solid mineral mining, construction materials, and manufacturing. Nigeria is trying to diversify away 
from oil by building a competitive manufacturing sector, especially in automotive assembly, 
cement, and texti les and clothing. This should facilitate Nigeria 's integration into global value 
chains (GVCs) and boost productivity.  
4.312.   We appreciate  that Nigeria 's investment regime is largely liberal, with 100% foreign 
ownership allowed in all but the petroleum sector w here investment is limited to joint -ventures or 
production -sharing agreements and a minimum share of 55% must be owned by the Government. 
It is still compulsory for foreign investors to be locally incorporated as limited -liability companies.  
4.313.   The Nigerian C ustoms Service (NCS) undertook several reforms in 2013 with a view to 
expediting the release and clearance of goods. These include: establishing a pre -arrival clearance 
system called Pre -Arrival Assessment Report (PAAR); setting up a trade hub/portal for t raders to 
access information; and terminating the pre -shipment inspection system.  
4.314.   Pakistan has followed with interest, the Nigerian services sector, especially 
telecommunications which have benefited from increased competition, and has continuously grown 
over the review period. Nigerian banks in general remain adequately capitalized. Although 
Nigeria 's transportation system is one of the best in West Africa, it suffers from underinvestment. 
Entertainment has emerged as key sector since 2014; it comprises th e third -largest film industry 
in the world in terms of production.  
4.315.   Nigeria is one of the most active Members of the WTO and actively participates in the 
activities of the organization and we are appreciative of its role in upholding the cherished ideals of  
the multilateral trading system. It is also a fellow Friend of e -Commerce for Development (FED), 
and Investment Facilitation for Development (FIFD) and is always on the forefront for achieving 
progress in WTO with development at its centre.  
4.316.   In the end, Pa kistan would like to wish Nigeria a very successful and fruitful TPR.  
URUGUAY  
4.317.   Uruguay has traditionally maintained friendly and constructive relations with Nigeria in the 
various spheres covered by our bilateral relationship, which include not only policy,  the economy 
and trade, but also cooperation and culture.  
4.318.   Since the last trade policy review of Nigeria in 2011, the political relationship between our 
two countries has been characterized by its stability.  
4.319.   Uruguay welcomes the support given by Nigeria at the General Council meeting of 18  May 
this year to the initiative proposed by Argentina and Brazil for the initiation of a dialogue regarding 
SMEs, an initiative co -sponsored by Uruguay.  
4.320.   Uruguay also welcomes the participation of Nigeria in the Ministerial  Meeting of the Friends 
of E-Commerce for Development, held during the E -Commerce Week this year, at which ministers 
and representatives of participating countries agreed that e -commerce is a tool to promote 
growth, reduce the digital divide and generate d igital solutions for developing and least developed 
countries.  WT/TPR/M/356 • Nigeria  
 
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  4.321.   Trade between our two countries has been characterized by a significant decline during the 
period under review.  
4.322.   Uruguay imports mineral fuels, mineral oils and products of their distillation, a s well as 
bituminous materials from Nigeria.  
4.323.   Our country's main exports to Nigeria are fish and crustaceans, molluscs and other aquatic 
invertebrates, as well as animal and vegetable fats and oils.  
4.324.   In this connection, Uruguay would like to emphasize in thi s forum the points raised on 
various occasions in the Council for Trade in Goods concerning the problems and barriers impeding 
access to the Nigerian market.  
4.325.   Uruguayan exports to Nigeria are affected by the lack of predictability in market access 
condition s and the limitations faced by importers in order to access foreign exchange.  
4.326.   Nigerian Central Bank regulations affect 41 import categories, including in particular rice, 
cement, fish, plastics, aircraft, cosmetics, steel and steel products, and clothing.  
4.327.   One of the most worrying points is the lack of information, since it is not possible to have a 
clear idea of the basis for the measures imposed by Nigeria and there are reasonable doubts about 
their consistency with WTO rules.  
4.328.   Uruguay renews the invitation s made on previous occasions to discuss these concerns with 
Nigeria.  
4.329.   Lastly, we wish to reaffirm the interest of both countries in joining forces to achieve a 
positive outcome at MC11 and to protect the multilateral trading system based on predictable, 
transparent and balanced rules.  
4.330.   Uruguay wishes Nigeria every success in its fifth trade policy review.  
RUSSIAN  FEDERATION  
4.331.   We commend Nigeria 's efforts in the past years towards diversifying its economy, 
liberalizing its trade regime and undertaking necessary policy reforms to achieve sustainable 
economic growth. The Secretariat reports that Nigerian economy may have entered a recession in 
2016. Nevertheless we believe that a solid resource base, large share of economically active 
population with growing produc tivity, combined with a focus of the Government of Nigeria on 
continuing structural transformation and imp roving the business environment  are good 
prerequisites for getting the economy back on track.  
4.332.   Nigeria is a key player in the region and an important partner for Russia. The trade 
relations between our two countries are well established and growing. According to Russian 
customs data, with bilateral trade reaching US$500 million in 2016, Nigeria became our third 
largest partner for trade in goods in Sub -Saharan Africa. The country is the second most important 
destination for Russian exports in the region, consisting essentially of machinery, chemical 
products, vehicles and equipment, as well as agricultural commodities.  
4.333.   Russian investment in Nigeria is gr adually increasing. In response to important challenges 
that Nigeria faces in infrastructural and industrial development, Russia has contributed to a range 
of large -scale projects in such fields as power supply, domestic petroleum and gas industry 
developm ent, technology transfer, scientific research, innovations in agriculture etc. Russian major 
companies Gazprom, Lukoil, Rosatom are already operating in Nigeria. Further exploring this vast 
potential for cooperation would be beneficial for both countries.  
4.334.   Russia attaches particular importance to enhancing high -skill employment in Nigeria. The 
year 2013 saw the launch of an ambitious program for training Nigerian nuclear industry workers 
in view of the construction of a nuclear power plant in the count ry. Be sides that, more than 
250 Nigerian students are enrolled in the leading Russian universities and are receiving Russian 
Government scholarships.  WT/TPR/M/356 • Nigeria  
 
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  4.335.   The institutional basis for our bilateral economic cooperation is Russia -Nigeria Joint 
Intergovernmental Commis sion on Economic and Technical Cooperation. Since its establishment in 
2004, the Commission has proved to be an important working mechanism for expanding our 
economic cooperation and exchanging views on a wide range of issues of mutual interest. The 
recent  regular session of the Commission took place in November last year in Abuja. Together with 
Russia -Nigeria Business council, this mechanism is highly instrumental in addressing specific 
moments in our trade policies, as well as resolving various concerns o f bilateral nature. Therefore, 
we expect to continue fruitful discussions in these formats.    
4.336.   In conclusion, we would like to thank the Nigerian delegation for the comprehensive 
statement regarding the country 's trade regime; the WTO Secretariat for its h ard work invested 
into drafting the report, and the d iscussant for the insightful observations. We wish Nigeria a very 
successful Trade Policy R eview.  
SWITZERLAND  
4.337.   My delegation did not submit any questions to Nigeria in writing. Still, Switzerland wishes 
to make a brief statement.  
4.338.   We highly value Nigeria as an economic partner and very much appreciate the constructive 
contributions Nigeria has made to the WTO and the multilateral trading system.  
4.339.   Nigeria has consistently emphasized the importance of the dev elopment dimension, not 
least in this forum. At the same time, Nigeria has adopted a forward -looking stance when it comes 
to taking into consideration important trends in global trade within the work of the WTO. The 
Nigerian delegation has, for instance, e ngaged actively in the discussions on e -commerce.  
4.340.   As pointed out in the Secretariat 's report, the Nigerian economy continues to face a broad 
range of challenges. We would like to encourage the Nigerian government to continue on the 
difficult path of struc tural reforms in line with the Economic Recovery and Growth Plan. 
Diversification of the economy and less dependence on oil revenues will be key factors to success. 
The country 's underdeveloped infrastructure has also been identified as an area which merit s 
particular attention.   
4.341.   In general, FDI can play a key role in developing a country 's economy towards 
diversification. In this regard, Switzerland welcomes reform efforts Nigeria is currently undertaking 
to improve its investment and business climate. Es pecially SMEs, which in many parts of the world 
constitute the backbone of a vibrant economy, rely on a predictable business environment.  
4.342.   We also feel that a further easing of foreign exchange restrictions would in general not only 
give the reform effort a n additional boost but would, more specifically, help facilitate trade and 
investment. Swiss as well as other foreign companies engaged in business with Nigeria struggle 
with difficult access to sufficient foreign exchange. We hope that this problem can be  resolved 
quickly and that the period of economic uncertainty will come to an end soon.  
4.343.   There  is much potential for further developing trade and investment ties between Nigeria 
and partners worldwide.  
4.344.   Before concluding, I would like to commend Nigeria fo r having completely phased out its 
fuel subsidy programme, a scheme which had created market distortions and negatively impacted 
our common goal of sustainable development.  
SOUTH  AFRICA  
4.345.   South Africa associates itself with the statement delivered by Rwanda on behalf of the 
Africa n Group.  
4.346.   South Africa regards Nigeria as a strategic partner in pursuance of the African Agenda, and 
also in the promotion of a rules -based International System. Nigeria represents over two -thirds 
market share for South Africa 's expo rts and investment in the West Africa sub -region. In 2012, 
South Africa and Nigeria signed a Memorandum of Understanding (MoU) on Economic and WT/TPR/M/356 • Nigeria  
 
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  Technical Cooperation as a framework for increasing collaboration on trade, investments and 
technical cooperation . The formalization of Bilateral Cooperation le d to the establishment of a 
Bi-National Commission (BNC) established in 1999. The BNC is mandated to give meaning to 
bilateral agreements, thereby contributing to increased trade between the two countries. As part 
of the Economic Community for West Africa States (ECOWAS), Nigeria is engaged in negotiations 
to establish the African Continental Free Trade Agreement (CFTA) to pursue a developmental 
regional agenda that includes three pillars which are market integ ration, industrial cooperation and 
infrastructure development.  
4.347.   Nigeria is regarded as the largest economy in the African Continent. Their 2013 rebasing 
exercise provided a clear picture of the structure of the Nigerian economy and served to increase 
GDP b y almost double from US$270 billion in 2013 to US$510 billion in 2014.  
4.348.   The Nigerian economy recorded strong GDP growth; about 7% in the decade leading up to 
2015, this was a result of high world prices of oil and natural gas. However, the 2016 recession 
caused by external shocks, mainly; reduced commodity prices and especially crude petroleum 
prices had a large impact on the economy that is dependent on oil receipts. This resulted in 
economic distress plagued by reduced economic growth and high inflation. It also had spill -over 
effects to other productive sectors such as agriculture and manufacturing. The devaluation of the 
Naira which was pegged to the US dollar until June 2016 added to the country`s economic woes.  
4.349.   We have , however, noted a number of posit ive developments with regards to policy 
regulation and targeted government support in response to these economic setbacks. For instance, 
the Nigeria Economic Recovery and Growth Plan (ERGP) introduces a medium term plan for 2017 
to 2020, prepared with the overall objectives that are in line with the 2063 African Union (AU) 
agenda. The Nigeria n Government report indicates that a strategic priority for the Nigerian 
economic policy is structural transformation, diversification, and industrialisation  including 
modernization of the economy in order to address the vulnerability of dependence on oil revenues. 
It identifies priority sectors which are agriculture, solid mineral mining, construction materials and 
manufacturing. It further states that these sectors hav e strong potential to restore growth and 
diversify the economy, while generating foreign exchange and increasing the resilience of the 
economy to external shocks, especially in the oil and gas sector.  
4.350.   We have also noted that in each of these sectors, a se ries of programmes have been 
planned and in some cases these are already being implemented including relevant regulations, 
investment in domestic infrastructure projects and institutional support. These will enable the 
economy to move back to a positive ec onomic growth track.  
4.351.   The application of the ECOWAS five band Common External Tariff (CET) with certain 
flexibility that has been in implementation since 2015 can allow Nigeria to develop and adopt a 
sound trade policy approach towards protection and develo pment of these strategic industries. 
This approach can be applied in a WTO compliant manner while in support of their diversification 
strategy.  
4.352.   Meaningfu l progress and focus in Nigeria 's envisaged economic vision of a diversification 
strategy and integrati on into Global Value Chains (GVCs), with a strong services sector will put the 
country in a positive growth path and reduce reliance on oil receipts.  
4.353.   South Africa 's cooperation with Nigeria in the auto sector is paving the way for more 
industrial and econ omic partnerships;  we stand ready to work with Nigeria in other areas and 
sectors to enable the realization of these economic goals.  
4.354.   South Africa wishes Nigeria a succes sful conclusion of their fifth Trade Policy R eview.  
SWAZILAND  
4.355.   Trade  Policy Reviews are one of the WTO transparency tools with which M embers are able 
to assess one another`s  trade and economic policies vis -a-vis developments since previous 
reviews. It is in that spirit that today 's discussion on Nigeria 's TPR serves to achieve that 
expectatio n.   WT/TPR/M/356 • Nigeria  
 
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  4.356.   It is interesting to note that since the last review in 2011, Nigeria has made a systemic 
overhaul of its economic and trade policies, thus transforming the economy to become number one 
in Africa. This was as a result of the 2013 re -basing of the econ omy which made it possible for 
unaccounted data from services and other sectors to be captured. During the 2013/14 period 
following the re -basing of the economy, Nigeria`s Gross Domestic Product (GDP) almost doubled. 
For a decade up until 2015, the economy  had been growing at an average of 7%, thanks to 
increasing oil prices. As the largest oil prod ucer in Africa, most of Nigeria 's GDP growth was 
attributed to the oil industry. However, due the decline in oil prices in 2014 the Nigerian economy 
has since ex perienced hampered growth down to 3.7% in 2015.   
4.357.   The economy now faces a number of challenges such as reduced oil export revenue as a 
result of lower prices for oil exports and high inflation rates exceeding 9%. This is a red flag to 
Nigeria to diversify the economy. My delegation is thus heartened that the Nigerian government 
has embarked on an Economic Recovery and Growth Plan  (ERGP) aimed at diversifying and 
resuscitating the economy.  
4.358.   We further note, that Nigeria is also geared towards improving the Ag ricultural sector 
through the Agricultural Tr ansformation Agenda. The sector 's performance has declined over the 
past few decades despite that farming provides a livelihood to over 60% of the Nigerian 
population, and thus the proactive approach taken by th e government is encouraged.  
4.359.   My delegation recogniz es that over the review period, Nigeria up -scaled her privatisation 
programme with state owned enterprises like Nigerian Telecommunications and its subsidiary, 
Nigerian Mobile Tel ecommunication Limited, pri vatized in 2015. Such an initiative encourages 
competition, reduces communication prices and further attracts investment.  
4.360.   It is, however, unfortunate to note that since the last review , Nigeria has not done much to 
reform the trade arena as a number of tra de-related legislations are reportedly outdated. Customs 
procedures are still burdensome despite introduction of the Pre -Arrival Assessment Report (PAAR). 
We urge the G overnment to make efforts towards modernizing their legislation and harmonizing 
their cu stoms procedures.  
4.361.   On a final note , we thank Nigeria for the positive efforts shown in the report which are 
aimed at revamping the economy, and we encourage it to consider improving other gray -area 
sectors touching upon trade related policies to reap positi ve output from the economic growth 
programme.  
4.362.   Your Excellency, Ambassador Cheidu, we are pleased to note that you cons ider this 
exercise your country 's opportunity to make necessary trade and economic policy reforms; hence, 
therefore, we thank you for your  delegation 's active engagement and hope that our comments and 
recommendations will receive positive opinion and form the basis for policy improvement over the 
next review period.  
SENE GAL 
4.363.   Since its last trade policy review in 2011, the economy of Nigeria, Africa's largest, has 
experienced serious difficulties and a recession linked mainly to the fall in commodity prices, 
particularly petroleum, which account for 90% of export earnings and 70% of government 
revenue.  
4.364.   In this context, the Government has launch ed major strategies and measures to revive the 
economy, create growth and promote employment. The Economic Recovery and Growth Plan 
(ERGP) 2017 -2020, geared to restoring growth, investing in Nigeria's human capital and building a 
globally competitive econo my, should serve as a basis for the diversification of the Nigerian 
economy, which is largely dependent on petroleum products. In this connection, the sectors of 
services, agriculture, solid mineral mining, construction materials and manufacturing are dest ined 
to play an important role in Nigeria's strategy of diversification and industrialization.  
4.365.   These national and sectoral strategies, together with measures to strengthen the 
competiveness of the Nigerian economy, including the reduction of the costs of p roducing 
electricity in particular, trade facilitation, and the improvement and modernization of WT/TPR/M/356 • Nigeria  
 
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  infrastructure, are essential indicators of an economic recovery which should also impact the 
countries of the ECOWAS.  
4.366.   Indeed, Nigeria, as a founding member of  ECOWAS, is one of the main players in ECOWAS 
intraregional trade. The implementation of the common external tariff and measures to harmonize 
the rules and to facilitate trade within the area should help to strengthen trade among member 
countries.  
4.367.   On the b ilateral level, Senegal and Nigeria maintain important economic and trade ties. 
Nigeria is Senegal's main supplier of crude oil. Nigeria's total exports fell by 15% in value between 
2012 and 2016, while those of Senegal to Nigeria also fell by 6% in value.  Moreover, Nigerian 
investments in Senegal, mainly in the financial sector and construction materials, continue to be 
significant. The strengthening of regional integration and the efforts of our two countries to 
diversify our respective economies should l ead to the strengthening of trade and investment flows 
in the future.  
4.368.   In conclusion, my delegation associates itself with the statement made by Rwanda and 
Cambodia, respectively, on behalf of the African Group and the LDCs.  
4.369.   I wish the delegation of Nigeria  every success in its fifth trade policy review.  
MALI 
4.370.   My delegation associates itself with the statement made by Rwanda on behalf of the 
African  Group.  
4.371.   We highly commend the delegation of Nigeria for the quality of its country report and the 
outstanding pr esentation made by Ambassador Chiedu Osakwe on the state of the economy and 
the different aspects of Nigerian trade practice from 2011 to the present day. We wish him and the 
entire delegation accompanying him to this review a pleasant stay in our midst.  
4.372.   We appreciate the transparency shown by Nigeria and the reform efforts that have been 
made since the fourth Trade Policy Review conducted in 2011. As a founding member of the 
Economic Community of West African States (ECOWAS), Nigeria, like many States in t he 
Community, is faced with a difficult security situation, which combined with the fall in oil export 
revenues, is not without consequences for trade, investment and national economic growth.  
4.373.   My delegation has for some years noted with satisfaction the gr adual consolidation of 
transparency, the efforts made to combat corruption, the strengthening of democracy and, in 
particular, the remarkable improvement in the security situation in the north -eastern regions of 
the country.  
4.374.   These encouraging factors augur  well for the implementation of the medium -term 
Economic Recovery and Growth Plan (ERGP) over the period 2017 -2020, which was officially 
launched by President Buhari on 5  April 2017.  
4.375.   This ambitious plan, with its particular emphasis on diversification and growth, carries 
great hope not only for Nigeria but for the entire ECOWAS subregion which expects to derive 
maximum benefit through the facilitation of Community trade and the promotion of Nigerian 
investment in the other ECOWAS countries. With this hope i n view, it is worth recalling and 
emphasizing the importance of the national ERGP which focuses primarily on three strategic 
priorities:  
● restoring growth;  
● investing in human resources;  and 
● developing a globally competitive economy.  
 
4.376.   As a highly agricultural country, Mali cannot pass over in silence the major reform initiated 
and implemented by Nigeria in 2016 to improve the infrastruc ture and promote the growth and 
development of the agriculture sector through the Anchor Borrowers Programme and the Nigeria 
Incentive -based Risk -sharing System for Agricultural Lending (NIRSAL).  WT/TPR/M/356 • Nigeria  
 
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  4.377.   My delegation welcomes the ratification of the protocol on t he Trade Facilitation Agreement 
and the TRIPS Amendment by Nigeria, which has also notified Category B and Category C 
commitments. These major steps are conducive to improving intra -community trade and regional 
integration, which we commend.  
4.378.   My delegation strongly encourages Nigeria to continue and intensify its reform efforts for 
the sake of improved diversification of its economy and to achieve substantial growth in trade both 
within the Community and within the Continental Free Trade Area that is being d eveloped.  
4.379.   Nigeria continues to be a significant and important partner for Mali in the area of trade 
within ECOWAS.  
4.380.   Mali reaffirms its willingness to work tirelessly within ECOWAS to improve and further 
increase cooperation between our two countries.  
4.381.   My del egation wishes Nigeria a successful and fruitful review of its trade policy.  
MALAYSIA  
4.382.   Malay sia-Nigeria bilateral relation goes back to 1965 and this year marks the 52nd second 
anniversary of our bilateral relation that is set to become stronger. Malaysia a nd Nigeria share 
common backgrounds in terms of diversity, that is multicultural, multi ethnic in our social make 
up. Internationally, among others we also share common membership in the Non -Aligned 
Movement (NAM), Organisati on of Islamic Cooperation (OIC) , D-8 Organization for Economic 
Cooperation (D8).  
4.383.   Trade between Malaysia and Nigeria has seen double digit growth in recent years wi th 
trade value in 2016 worth US$ 3.41 billion. Malaysia 's main exports to Nigeria include petroleum 
products, palm oils and p alm based products, machinery and processed food. Nigeria 's exports to 
Malaysia among others are liquefied natural gas, iron ore, metal scrap and agricultural goods. The 
importance of trade with Nigeria  saw Malaysia establishing a trade office in Lagos in 2015 to 
spearhead commercial activities between the two countries. Other areas of cooperation include are 
in science and technology, culture and capacity building.  
4.384.   It is also worth noting what Nigeria has become  the biggest source of African students in 
Malaysia numbering more than 5000 students.   
4.385.   We welcome the domestic policy reforms of Nigeria as elaborated by Ambassador Chiedu 
and in the reports to increase Nigeria 's competitiveness and better integrate Nigeria in the 
international trade system. We und erstand the challenges faced, as Malaysia too is undergoing 
such reforms, but we share the believe that Nigeria has everything it takes to build a stable 
economy through regulatory reforms and diversification. We also hope to see improvements to the 
concer ns that have already been raised by other Members. In that we note from Nigeria 's 
statement earlier, that Nigeria is addressing the issue of restriction on certain imported goods and 
services that are not valid for Nigeria 's foreign exchange markets. We ho pe this could be given a 
quick solution as Malaysia 's exports particularly in palm oil products have been very much 
affected.  
4.386.   We take this opportunity to thank the Nigerian delegation and Sulaiman Abduh for 
Nigeria 's active participation in the WTO. We wel come Nigeria 's ratification of the Trade Facilitation 
agreement and its notification of Category B and C. Nigeria 's progressive outlook is a major 
contribution to the Doha negotiations and with such continue d engagement with other Members. 
We look forward to a successful MC11. We wish Nigeria for a fruitful 5th Trade Policy Review.  
MAURITIUS  
4.387.   We commend the Government of the Federal Republic of Nigeria for the bold vision and 
programme on setting the country on a higher economic trajectory an d sustaining inc lusive 
growth. To this effect , we welcome the Economic Recovery and Growth Plan (ERGP), the 
Government 's medium -term plan for the period 2017 to 2020.  WT/TPR/M/356 • Nigeria  
 
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  4.388.   We welcome Nigeria 's effective industrialisation strategies and efforts at continental level in 
the impl ementation of the AU Agenda 2063. We are interested in seeing positive developments in 
the Special Economic Zones that Nigeria has set up, having ourselves shown a keen interest in the 
development of Special Economic Zones in Senegal, Cote d 'Ivoire, Ghana and many other 
countries.   
4.389.   In his Budget Speech which was read in Parliament on the 8th of June, the Hon ourable  
Prime Minister of the Republic of Mauritius equally Minister of Finance and Economic Development 
announced the setting up of a Business and Inv estment Platform for Africa to facilitate the 
implementation of joint projects with businesses across the African continent through the 
Mauritius -Africa Fund  
4.390.   At the bilateral level, Mauritius and Nigeria have already initialled  a Bilateral Air Services 
Agreement, signed a Memorandum of Understanding between the Mauritius Financial Services 
Commission and the Security and E xchange Commission of Nigeria. We also propose to enhance 
the economic relations between our two countries through the completion of the necessary legal 
procedures by the Nigerian authorities for the entry into force of the Double Taxation Avoidance 
Agreement and two related protocols, which have already been signed, as well the resumption of 
the negotiations on the conclusion of an agreeme nt on investment promotion and protection.  
4.391.   Whilst Nigeria has been primarily dependent on exports of oil products, we welcome the 
efforts of the Government of Nigeria for diversification of its economy with new focus now on the 
potentia l of agriculture and  services. We note the positive contribution of the delegation of Nigeria 
on key issues with a view to finding lasting and durable solutions to the issues under discussion at 
the WTO.  
4.392.   We look forward to working closely with the delegation of Nigeria with a  view to making 
significant progress at the WTO and at MC11.  
PERU  
4.393.   Although we have posed no questions for this review, we should like to emphasize, as 
others have done, the importance of the trade policy presentation made by Ambassador Osakwe 
today, which focused on Nigeria's specific challenges in the domestic and international spheres, 
with a view to continuing the development of the country's huge economic potential.  
4.394.   For example, we underscore the importance of facilitating access to the fruits of the di gital 
economy, and the need to modernize the WTO negotiating agenda, these being areas in which we 
have shared interests and can collaborate within this Organization. Similarly, we wish to express 
our gratitude for having been able to learn of the state of  play regarding the draft preferential 
trade agreement between the African countries, which is undoubtedly an initiative of great scope 
and enormous potential, and one which we wish every success.  
4.395.   At the same time, we should like to highlight the strong to ne of Ambassador Osakwe's 
words in favour of reform efforts as a tool of economic growth and development. In Peru, which 
has the same problems regarding the importance of commodity exports, we know that without 
reform we shall not achieve the competitivene ss that will enable us to harvest the fruits of a 
globalized world economy.  
4.396.   That having been said, it only remains for us once again to express thanks for the words of 
Ambassador Osakwe and the participants in this review, secondly to offer our best wishes  to 
Nigeria for its reforms aimed at improving its economy and diversifying and adding value to its 
exports, and finally to also wish Nigeria a successful trade policy review.  
MOZAMBIQUE  
4.397.   We align ourselves with the statement presented by Rwanda on behalf o f the African 
Groups.  WT/TPR/M/356 • Nigeria  
 
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  4.398.   We are grateful for the very detail ed and informative presentation  on the economic 
situation of Nigeria and reforms processes carried out by the Government of Nigeria since the last 
TPR.  
4.399.   Indeed, the Government of Nigeria has made ef forts to maintain the country as one of the 
largest economies in the world, having recorded 7 % of economic growth per year, for successive 
years.  
4.400.   Despite the recession of the economy of Nigeria, depreciation of the National currency and 
the declining of t he price of oil, the main export commodity of Nigeria, we understand that the 
country has been involved in several reforms, that we consider the right development path.  
4.401.   We equally note with satisfaction that the Government adopted the Vision 20, 20:20 and  
the National Economic Recovery and Growth Plan, in view to make Nigeria one of the 20 leading 
economies of the World by 2020, as well as the decision taken of selecting several products in 
view to expand the promotion and the diversification of the econom y, which was highly dependent 
on oil.  
4.402.   My delegation sees the decision to build on a competitive manufacturing industry in 
conjunction with the recent merging of trade, industry and investment including other measures, 
as crucial to a better coordination, i mprovement of investment promotion, industrial 
competitiveness and trade environment, and for the achievements of sustainable growth.  
4.403.   Despite challenges related to slowdowns in the oil market, we note that the Government 
has continuously adopted policies t hat aim to improve the trade environment, production, 
diversification, industrialization and structural transformation, and an industrial revolution plan, a 
national enterprise development programme, all aiming at boosting manufacturing GDP figures by 
2020, as strategic actions in view to Nigeria 's economic growth and development.   
4.404.   We equally note with satisfaction that in having established the industrial revolution plan, 
the Government has also designated three implementing agencies in view to ensure a b etter 
undertaking of actions envisaged in the establishment of the referred plan, as well as of the 
various reforms that will lead to country 's economic recovery and Development.  
4.405.   We are confident that the country will succeed in the implementation of all r eforms and the 
national development policies, and that these will contribute to a better country 's engagement and 
success in regional and multilateral initiatives.  
4.406.   It is noticeable that challenges in many areas of concern to development are still 
enormous,  and that they are limitative to the country 's development potential. This trade policy 
review, demonstrates Nigeria 's Government commitment in increasing transparency, and 
maintaining itself as a strategic multilateral and bilateral partner.  
4.407.   It is our vie w that Nigeria needs to be assisted in view to, i n an intensive manner, foster 
more capacity building and thus, maximize the existing comparative advantages in different 
economic domains.  
4.408.   In conclusion, we wish Nigeria a very successful Trade Policy  Review , and thank you all for 
your kind attention.  WT/TPR/M/356 • Nigeria  
 
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  5  REPLIES BY THE REPRE SENTATIVE OF NIGERIA  AND ADDITIONAL COMME NTS 
5.1.  Thank you very much Chairman Gonzalez and distinguished Members. Also, at the very 
beginning, I would like to acknowledge the presence of Nigeria 's Permanent Secretary in the 
Ministry of Industry, Trade and Investment, one of the more elite and distinguished technocrats in 
the Nigerian Federal Minister ial System: Aminu Bisalla you are welcome.   
5.2.  Chairman, the Nigerian delegation is grateful for the  opportunity to offer brief Concluding 
Remarks.   
5.3.  The Trade Policy Review process is of high value for Members. Particularly for those Members 
that are open to domestic structural reforms designed to improve productivity and growth. 
Nigeria 's Fifth Trade P olicy Review is just the most recent reminder of this fact and necessity. From 
the preparatory process, which started with Secretariat 's mission to Abuja last year; and the 
engagement with WTO Members here in the TPRB, we can confirm as a delegation that N igeria has 
benefitted, immensely.   
5.4.  Thank you for your comments and advice reflected in your balanced Opening Remarks 
Chairman Gonzalez; we are also very grateful for the competent technical assessment by 
Ambassador Yee Woan Tang of Singapore, our discussa nt; and we are very grateful for the wisdom 
in the statements that were made from 45 Members who intervened at the opening of the review. 
Up until thirty minutes ago we answered all the 300 questions from 23 Members. But that was 
until thirty minutes ago. We have got 11 additional questions. It is a total of 311 questions. What 
we would say in this closing is to repeat what we have said in the opening day. Please keep the 
comments and the questions coming. They are useful. No economy can become competitive unless 
it is under scrutiny and unless it benefits from the wisdom and advice of those in the same arena  
with it . So, we have answered all the questions, all of them, minus the 11 , I believe 15,  that came 
in this morning. And I would urge you to keep sendi ng these questions.  
5.5.  Nigeria has been positively challenged and encouraged by the interests of WTO Members and 
is mindful of its standing which you regularly reminded the delegation that it is Africa 's largest 
economy and the 26th largest in the world. The se are not data for use in boastful commentary. 
These are data that remind the country that it comes with a measure of responsibility. So, we are 
very grateful for those comments.  
5.6.  Nigeria noted in careful detail all the points that were raised, they ranged   from specific 
encouragement and support for our policies and plans, to the unanimous commendation of 
Nigeria 's leadership in the system by all those who intervened and we are grateful for it ; we also 
noted in detail  the concerns expressed on particular a spects of bilateral relations including, in 
particular, our neighbours in the West African sub region who reminded us that the balance of 
trade has tilted consistently and over a long period in Nigeria 's favour in terms of surpluses and we 
have listened to  that as well. We are grateful for your requests for clarification on specific 
measures; and the advice that you have given us on scope for deeper structural reforms for faster 
growth and higher levels of output. Let me touch on a few of them briefly so that you would also 
be convinced that the delegation listened carefully and is responding with sensitivity . 
5.7.  Support for the Economic Rec overy and Growth Plan (ERGP): We welcome the universal 
support from all of you who intervened on Nigeria 's Economic Recove ry and Growth Plan (ERGP) 
and support for its principles, goals and priorities. Thank you very much indeed. This Medium Term 
Plan for growth is home -grown. It is developed by Nigerians in consultation with several 
International Financial Institutions. And for whatever it is worth they had me locally as well and so 
we listened and it is a home -grown plan. As you have p ointed out to us on Tuesday when we 
began implementation is critical. We specifically request you the Members to support the 
implementation of  Nigeria 's economy recovery and growth plan. The Government is committed to 
its implementation. It will be driven by the private sector in strong partnership with the 
international investor community. I repeat an expression that we had in t he Government of  Nigeria 
report:  the plan and the economy shall not be micro managed. Governments don 't run economies. 
The private sector does that.   
5.8.  Commendation of Nigeria 's Leadership and Active Engagement in the WTO: we have reported 
this already to Abuja. Our Govern ment is deeply encouraged with the appreciation of Members WT/TPR/M/356 • Nigeria  
 
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  who intervened on the point of Nigeria 's leadership role to strengthen the rules -based Trading 
System. The WTO is a public good - we have never been in any doubt about that in Nigeria. It is 
critical in global economic governance. It is a cardinal forum for international cooperation for trade 
and, frankly, it is the primary institution for rule -making. To ensure its relevance, Nigeria believes 
that Members should continue to work together to moderni ze and strengthen the WTO through an 
updated agenda and engaging constructively so that the WTO continues to deliver results that 
solve global economic problems and contribute to recovery and growth. It is to the major cre dit of 
the WTO and WTO Director -General Azevêdo that in the past two, three ministerial conferences, 
the Organization has continued to deliver and this is Nigeria 's expectation for Buenos Aires for 
MC11 .  
5.9.  Customs procedure s: we noted the comments by Members that "customs procedures are 
cumbersome, tedious, restrictive and lacking in transparency ". These are not my words actually, 
they are words that were used here. We have noted that these comments are taken seriously with 
a view to improvements and there is always scope for improvements. A s we work to further 
improve on delivery, perhaps it is also nota ble that in a recent report by the World Customs 
Organization (WCO) in Brussels, they noted that out of its 188 Members only 12 could be 
confirmed as having transparent clearance procedures a nd, for whatever it is worth, I lay before 
you that Nigeria was identified by the World Customs Organizatio n in its own autonomous report 
as one of the 12 with transparent procedures. This is not an evasive commentary. Just to take 
note of this and to say that we are also guided by the comments you made and that we will be 
pushing h ard to implement even better.   
5.10.   Forex Restrictions: we noted all the comments on foreign exchange restrictions. The 
concerns registered by Members are comments we 've had well out side and beyond the WTO. 
These effects of the  forex restrictions deter  both foreign capital, foreign direct investment. They 
deter portfolio investment and as capital for development foregone. As explained, there is no need 
to be defensive on  this and we a re not. There was a shock in 2014, there was a  loss of 60% in 
external  receipts and there was a precipitous decline in external reserve s towards the minimum 
threshold for import cover set up by the IMF at six months. And something had to  … what 's the 
English expression for that… we had to pull the hand break. The hand break had to be p ulled as an 
exceptional measure , we simply dive d on the breaks otherwise it would have been a complete 
blow-out. This is not an ideal policy, by no measure it is not. It is ex ceptional, it is temporary, it is 
transitional. And Nigerians also are looking forward to the end of those restrictions. As you know 
there have been improvements. Some items were taken off, about 21 or so recently. That process 
of the gradual easing of exc hange restrictions would continue.    
5.11.   Import Prohibitions: Nigeria also noted the strong concerns registered by several of you with 
regard to very specific things on the import prohibition list. Some of it i s not sexy but bear 
identifying  fish: fish head, stock fish and product registration restrictions. We are mindful of this, 
we are looking at that. Items on this list are under a process of constant review. As Members were 
inform ed recently, a number of items , over 21 have been removed from that list. And  this process 
of easing the r estrictions would continue. As the economic base  is diversified, growth is restored 
and economy exits the except ional condition of recession.   
5.12.   Tariff Policy Ambiguity: we heard you clearly on another point that is tariff polic y ambiguity. 
We have noted in our view the sound advice from you the Members to correct  a tari ff policy inertia 
and hangover  from the past w hich is reflected in very high average bound rates of tariffs at about 
110% (different, totally discrepant from aver age applied tariffs based on the ECOWAS common 
external tariff that Nigeri a is committed to implement ing at 35%) and combined with a low tariff 
binding covera ge of about 19%. We have taken careful note of the advice that this wide margin 
between bound leve l of tariffs and actual tariffs compounded by low levels of tariff binding 
coverage creates scope for arbitrariness in tariff policy, it increases uncertainty and deters both 
trade and investment. Points we ll made, points well taken and as follow -up, we ar e reviewing this 
situation and hope to revert as quickly as possible.  
5.13.   Notification of Trade Measures: it is an area of lapse. We accept that. We are rebooting and 
resetting our trade policy infrastructure . There will be better notification, better in the sense of 
timely notification going forward to improve what we are doing.   
5.14.   Local Content Measures Concerns  expressed by a range of Members : Nigeria has taken note 
of the questions à propos the WTO consistency of local content measures in domestic law, WT/TPR/M/356 • Nigeria  
 
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  regulation and programmes. Nigeria will further examine the questions raised in respect of law, 
regulation and practice; and do so in the context of the developmental state of the economy with 
respect to job creation. We will do so. But we need to be clear tha t we will do so with respect to 
job creation, with respect to poverty reduction and growth to exit recession.   
5.15.   Observer Status in the WTO Government Procurement Agre ement (GPA): we also carefully 
took note of the advice from many Members to consider reque sting Observer Status in the WTO 
Government Procurement Agreement (GPA), based on the rationale of good governance, the logic 
of Nigeria 's anti -corruption struggle, and Nigeria 's ambition on competitiveness considerations; 
and your advice was, and you gave  it in our view  with all the good intentions, without any 
prejudice to an eventual decision to accede to the GPA. Nigeria is open to this advice. W e are 
looking at it favourably.  But the final decision will be subject to the result of consultations with th e 
relevant government Ministries, Departments and Agencies  with competent jurisdiction. We shall 
revert on this Observer Status as qu ickly as possible.   
5.16.   Skills Shortages and Foreign Firm Recruitment: we are very grateful for the advice that you 
gave on th e shortage of skills, which you said is hampering some of your big firms in recruiting 
from the Nigerian econo my. The answer here is straightforward, g ood advice, we are aware of it. 
What I can add to that is that the Minister of Industry, Trade and Invest ment is consulting and 
aware of the details with the Government of Switzerland, getting advice from the Swiss. We are 
looking at the Swiss model and the German model for apprenticeship systems, which have just 
been world classified best practice examples i n terms of vocational training. Apprenticeships 
systems and getting the skills, the raft, the corpus of skills that are required t o run a modern 
economy.   
5.17.   Insecurity and Corruption: Nigeria welcomes the encouragement and support from Members 
for the stron g measures taken by the Government to reduce insecurity and tackle systemic 
corruption. The Government of President Buhari has never been defensive about that. The levels of 
insecurity are being steadily reduced with consequent effects for security of life  and property. 
Nigeria is very grateful to a number of countries represented here at the WTO that are providing 
concrete support to addressing the challenges faced by Nigeria from trans -border terror. We are 
quite happy to put their names into the record. Specifically, Nigeria is deeply appreciative of the 
concrete support from the United States, from the United Kingdom, from France, and the 
European Union (EU). They are providing the support that any Government can wish for in the 
struggle to deal with the  evil of Boko Haram. The Nigerian Government is registering strong 
progress in the fight against systemic corruption. It is doing a better job this time through 
intelligence, investigations, arrests, prosecutions and convictions. It is doing this with 
determination. It should be placed on record because we find this useful that the introduction by 
the Nigerian Government of the whistle -blower policy is yielding very good results and taking 
forward the fight agai nst corruption in Nigeria. The w histle -blower policy is something that you 
folks out here in some of the more sophisticated economies have used. We are using it now. It 
works, and it is working very effectively. So far, because of this policy, looted funds have been 
recovered. The National Assembly, t hat is the legislature, is now working to put this into 
legislation , beyond government regulation.  This is key, it is progress that is significantly enhancing 
the business environment which as we said a couple of days ago was given a radical positive boost  
by the Executive Order 01 signed by the acting pre sident Professor Yemi Osinbajo  
5.18.   Cost of Doing Business: that is the  point that was raised by Members for Nigeria to reduce 
the cost of doing business so as to improve FDI and portfolio investment flow, whi ch is the 
challenge that the Nigerian Government is tackling head -on. This is the number 1 priority. As we 
said on day 1, and that was on Tuesday, President Buhari 's primary initiative was his initiative on 
an enabling environment for  business. Basically, the President and the G overnment 's team are 
using this business angle to deal with the institutional challenges in the economy including 
corruption. A lot of progress has been made in this area.  
Conclusion  
5.19.   Let me conclude with a couple of points we have h ad up before, but I think this is the 
moment to put it in relief. This Trade Policy Review exercise  for Nigeria has been very healthy,  
very con structive and very beneficial. We would like to see the TPR  as an on -going process of 
engagement and not as a one  off engagement that takes place in 6/7 year intervals. The intervals 
are too long. It is not a Secretariat problem it is a Members decision. The intervals are too long. I WT/TPR/M/356 • Nigeria  
 
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  know there is pressure on the Secretariat. I understand where the Secretariat is. Bu t for an 
energized WTO that supports the domestic reform, including and in particular for structural 
reforms, the intervals have to be reduced. This is a position that we think that will be useful. This 
review process also, as Juan Carlos, Chairman, pointe d out Tuesday, is very timely because this is 
a moment of  reform and change in Nigeria. It is taking place at a time when the Government of 
President Buhari has taken the bull by the horns and has bitten the bullet of structural reforms. 
However, and this is the final point really, success in domestic reforms requires honest 
partnerships with the international community: the private sector, investors and markets. In 
reporting on the substantive results from this exercise, what we would ask you Mem bers in 
reporting this exercise  is for you also because you have engaged in a forthr ight way, to work with 
Nigeria t o dispel the encrusted stereotypes. It is not easy to dispel stereotypes. They can fossilise, 
they can encrust. Here is where the partnership lies. Ni geria is reforming and ch anging and the 
progress is self -evident. The Government has brought in reform champions, resources are being 
thrown into it, Governments are being consulted and you have access to the fact,  the deal is that 
stereotypes must be adju sted to grasp the new reality of a reforming Nigeria. This is the reason, 
when our statement is circulated, you would see on the c over page that we have given the se 
concluding remarks a thematic focus: "strengthening the WTO, supporting domestic policy ref orms 
and dispelling the stereotypes ". This is what we live with you. This is what we would like to live 
with you as the partnership that we would like to forge with you going ahead.    
5.20.   Now, our attention has to turn to MC11. Everything is related: domestic  reforms, WTO 
Ministerial Conferences. Nothing can happen at the domestic level unless there is mutual and 
constructive interactivity with things that happen at the global level. We confirm to th e TPRB, to 
you the Members here  that Nigeria shall work with the Members for a successful Eleventh WTO 
Ministerial Conference. We will work for an updated agenda. We will work for results. We will do no 
less. That is a commitment that we make in tandem with the commitments that we have made 
domest ically.  
5.21.   Thank you C hairman, Ambassador Yee Woan Tang, thank you Members and the Secretariat 
that is led by director Willy Alfaro.  
DISCUSSANT  
5.22.   Thank you for the opportunity to make some brief remarks.  
5.23.   First, I would like to congratulate Ambassador Chiedu Osakwe and Permanent S ecretary 
Mr. Aminu Aliyu Bisalla, and the Nigerian delegation for their efforts in the preparation of this trade 
policy review. We have heard frank and forward looking remarks from Nigeria that the business of 
change and reform is progressing purposefully by its  team of "reform champions " in Government. 
Several important domestic reform efforts were highlighted by Nigeria including coherence in 
economic policy making; trade policy and negotiations, ease of doing business and trade 
facilitation; industrial p olicy; as well as the digital economy. The comprehensive interaction with 
WTO Members throughout this trade policy review is highly appreciated. Members ' interest and 
engagement in this TPR is evidenced by the number and diversity of delegations which had posed 
questions and taken the floor to deliver statements.  
5.24.   I had earlier outlined some of the developments in the key sectors of Nigeria 's economy as 
well as highlighted some trade policies and practices by measure. I also noted Nigeria 's 
commitment to th e multilateral trading system and its participation in regional integration. I would 
like to build on my earlier statement by making some brief observations on the views provided by 
Members in their questions and interventions.  
5.25.   Members generally recogniz ed the serious challenges which the Nigerian economy is 
confronted with including the exogenous shocks to its economy caused by the decline in oil prices 
as well as endogenous factors such as regulatory uncertainties. Members commended the 
response by Niger ia including the recent Economic Recovery and Growth Plan (ERGP) to transform 
the economy through diversification, industrialization and modernization. The plan to diversify 
away from oil and reduce the heavy dependence on the energy sector was also highli ghted by 
many Members.  WT/TPR/M/356 • Nigeria  
 
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  5.26.   Members also praised Nigeria for its ratification of the WTO Trade Facilitation Agreement and 
the acceptance of the Protocol Amending the TRIPS Agreement. Many also voiced appreciation for 
the positive and active role played by Nige ria in the WTO in support of the multilateral trading 
system. Its helpful contributions to the negotiations as well as engagement with the regular work 
of Committees were warmly welcomed  by Members.   
5.27.   Members voiced some specific concerns including in the following areas: the difficulties in 
doing business, import prohibition lists, prohibition of access to foreign exchange for some goods 
and services, support measures contingent on exports or local sourcing, local content 
requirements as well as outstandin g WTO notifications. I believe that Nigeria will give serious 
consideration to the concerns raised by Members, and address them in an appropriate manner, if it 
has not already done so.  
5.28.   The key takeaway for me as discussant is that it is important that Nig eria responds to the 
challenges it is faced with, not by succumbing to protectionist pressures and resisting change, but 
by making the required structural reforms so that it can recover from the downturn caused by the 
drop in oil prices and grow a globally  competitive economy to benefit its people.  
5.29.   It has been said that with great power, comes great responsibility. As Africa 's largest 
economy, Nigeria bears special responsibility to take the lead on trade policy issues. And indeed it 
has done so. I note th at Nigeria will chair the negotiations for Africa 's Continental Free Trade Area. 
It has submitted its Category B and C commitments for the Trade Facilitation Agreement. I must 
also commend Nigeria for its forward looking stance in the WTO on current issues  confronting 
international trade such as e -commerce, investment facilitation and micro, small and medium 
enterprises. Nigeria has taken up the mantle of change and we look forward to its domestic 
reforms bearing fruit.  
5.30.   I will conclude on this positive not e, and I want to express my honour and privilege of 
having participated  as discussant in this review. I wish Nigeria every success in the future. Thank 
you. 
EUROPEAN  UNION  
5.31.   The EU would like to thank the d elegation of Nigeria for its efforts to provide repl ies to our - 
sometimes long -standing and overdue - questions raised for years  in certain committees of this 
Organiz ation. We also thank Nigeria for the additional and useful information provided in the 
statements on the first day of the review and this mor ning.  
5.32.   The EU  welcome s Nigeria 's commitment to reform and addr ess certain structural problems  
raised during this review meeting, such as the improvement of the business climate or the 
outdated regime on intellectual property rights. We also support Nigeria 's intention to make public 
procurement procedures more transparent and homogeneous at various levels as it helps 
achieving value for money and contribute to the good governance.  
5.33.   In order to achieve further clarity in some of the areas of interest to us, we have submitted 
several follow -up questions  via the Secretariat this morning . 
5.34.   First, in the area of agriculture, we note that several other Members also raised the issue of 
the import ban of meat which is still in place on the ground. We would like to in vite Nigeria clarify 
the rationale of these measures and its intentions for the near future. We have also taken note of 
the statement of this morning.  
5.35.   Secondly, regarding local content requirements, we have not seen a reply regarding our 
questions on the s tatus of the on -going reform of the law on oil and gas which to our knowledge is 
in the Parliament. This issue has been on the agenda of the TRIMs Committee and Council for 
Trade in Goods for a very long time and we consider the policy detrimental to the e conomic 
development of Nigeria. We do hope to receive replies by the next CTG.  
5.36.   Third, the EU would very much welcome information on the draft bill on competition, which 
is still to be adopted - as you have informed - and on the G overnment 's intention when drafting WT/TPR/M/356 • Nigeria  
 
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  the bill. This is a very important policy area, since competition policy provides a level -playing field 
to all companies active in Nigeria, especially the SMEs.  
5.37.   We have also submitted other written follow -questions on customs valuation, taxation 
agreements, and agriculture. The EU will use these replies to feed discussions, as appropriate, in 
the relevant committees of this Orga nization.  
5.38.   Finally, we welcome Nigeria 's notifications on category B and C under the Trade Facilitation 
Agreement that was circulated to WTO Members yesterday. We also noted a reference in Nigeria 's 
replies to some funding issues. In that regard, we would like to draw Nigeria 's attention to an 
upcoming programme on trade facilitation in ECOWAS, which is financed by the EU toge ther with 
the Netherlands and the U nited States. We hope that t his programme could support Nigeria 's 
efforts in the field of trade facilitation  and implementing the agreement . 
5.39.   In conclusion, the  EU would like to thank Nigeria for its  constructive  participa tion in this 
important transparency exercise and we look forward to receiving the replies to our outstanding 
questions in due course.  
UNITED  STATES  
5.40.   The United States would like to sincerely thank M embers of the delegation of Nigeria for 
their diligent prep aration for and constructive participation  in this Trade Policy Review, which we 
hope everyone has found a useful exercise. We also especially thank Ambassador Osakwe and 
Ambassador Tan for their clear and informative discussion here - and, as always, the Secretariat 
for its excellent work.  
5.41.   The United States would like to express appreciation for our valued trade relationship with 
Nigeria; we have followed with great interest news of recent challenges, reforms, and 
determination to move forward. As mentione d on Day One of the TPR, we heartily encourage 
reforms efforts to diversify, improve the business and regulatory environment, promote 
competitiveness, and reduce corruption.  
5.42.   We thank the delegation of Nigeria for answers provided to our previously submitt ed written 
questions; we have now also submitted a number of follow -up questions addressing the reasons 
behind health and safety concerns, description or non -compliance penalties, notification of the 
Draft National Quality Policy, the Copyright Act, and st atus at the Joint IPR Action Plan Committee.  
5.43.   We note with particular interest certain issues raised in this morning 's statements:  
5.44.   We would again, respectfully, encourage the Government of Nigeria to consider 
observership status with respect to the WTO 's Agreement on Government Procurement and to 
reconsider import barriers. Other actions to consider here at the WTO would be addressing 
outstanding notification obligations in various areas, especially  TBT and SPS. In addition, we urge 
the Government to conti nue improving its power provision infrastructure, developing the 
workforce, diversifying exports, updating copyright laws for the digital age, and thoughtfully 
attracting increased foreign investment and tourism.  
5.45.   The United States looks forward to continu ed active cooperation with Nigeria as a friendly 
and energetic partner in Geneva and elsewhere. Please accept our best regards, and our wish for 
safe travels to those returning to capital.  
CHINA 
5.46.   China 's delegation would like to thank Ambassador Chiedu Osak we and the Nigerian 
delegation for the informative responses just provided to the Members concerned, as well as the 
timely written answers to our advance questions. We also thank the discussant, Ambassador Yee 
Woan Tan , for her insightful comments.  
5.47.   China h as submitted some additional questions and look forward to receiving the answers 
from the Nigerian delegation in due course.  WT/TPR/M/356 • Nigeria  
 
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  5.48.   Once again, we would like to express our sincere appreciation for the efforts made by the 
Nigerian delegation for this important ex ercise and congratulate Nigeria for a successful Trade 
Policy Review.  WT/TPR/M/356 • Nigeria  
 
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  6  CONCLUDING REMARKS B Y THE CHAIRPERSON  
6.1.  This fifth Trade Policy Review has offered a very useful opportunity for Members to deepen 
their understanding of the trade policies and practices of Nigeria, and to collectively appreciate the 
challenges it currently faces in sustaining and improving its economic prosperity. I  would like to 
thank the Nigerian delegation, led by Ambassador Chiedu Osakwe, Trade Adviser of the Federal 
Ministry of Trade , Industry and Investment, our discussant Ambassador Yee Woan Tan of 
Singapore, and the more than 45 delegations that took the floor for their valuable contributions.  
6.2.  In their interventions, Members appreciated Nigeria 's performance, which has positioned i t as 
the 26th largest  economy  in the world, and the biggest in Africa. They also highlighted Nigeria 's 
wealth in natural resources, as it is the top oil exporter  in the continent , with the largest natural 
gas reserves. High global demand for and prices of oil and gas had helped Nigeria experience rapid 
economic growth in the last decade. However, the sharp decline in oil prices since the third quarter 
of 2014 has posed major challenges to Nigeria 's economy that was plunged into recession in 2016. 
Despite th e significant decline in its contribution to Nigeria 's GDP (less than 10% in 2016), oil 
continues to contribute about 70% to government revenue and 90% to export earnings.  
6.3.  Members welcomed Nigeria 's Economic Recovery and Growth Plan for 2017 -2020, which ai ms 
at sustained inclusive growth through a structural transformation and diversification of the 
economy. In particular, they appreciated the steps taken to develop the manufacturing sector and 
the digital economy, especially e -commerce, with a view to spee ding up the economic recovery 
process. They were of the view that further structural reforms aimed at improving the business 
environment, by streamlining trade procedures, establishing a market -driven and fully floating 
foreign exchange rate regime, addres sing governance weaknesses and regulatory uncertainties, 
combating insecurity, modernizing infrastructure, and by ensuring access to affordable and reliable 
electricity, would help to attract investment for the diversification of the economy thus reducing its 
dependence on crude oil. Also, m ore investment in vocational training would contribute to 
enhancing the com petitiveness of the economy.  
6.4.  Members commended Nigeria on its active participation in the WTO, for having ratified the 
WTO Trade Facilitation Agr eement (TFA) and for having accepted the Protocol amending the TRIPS 
Agreement. Members welcomed Nigeria 's recent notification of categories B and C measures under 
the TFA,  but called upon the country to fully meet its notification commitments, mainly  in the 
various areas where they remained outstanding, including TBT and SPS.  
6.5.  Members noted that  Nigeria has  largely  aligned its tariff with the EC OWAS common external 
tariff since 2015, albeit with most of the flexibilities offered by the community 's provision s. They 
encouraged Nigeria to improve the predictability of its tariff regime by increasing its binding 
coverage and by lowering its high bound rates. Nigeria was also urged to eliminate its numerous 
additional du ties and charges on imports.  
6.6.  Members called  upon Nigeria to phase out its longstanding import prohibition lists and local 
content requirements in the oil sector, which are considere d incompatible with WTO rules. They 
expressed concerns about Nigeria 's ban on 41 categories of items for which importe rs are not 
allowed access to foreign exchange from the Central Bank.  
6.7.  Several delegations enquired about the standardization process in Nigeria and about the 
operational procedures and processing time for issuing import permits and licenses  for certain 
products. Although Nigeria has taken steps to automate its customs procedures, concerns were 
raised about its burdensome customs procedures and erratic customs valuation. On intellectual 
property rights, Members highlighted the importance for Nigeria to compl ete the ratification of 
several WIPO treaties with a view to enhancing IPR protection. Nigeria was encouraged to update 
its legal framework on government procurement and to become an observer to the WTO 
Government Procurement Agreement (GPA). On competitio n policy, Members welcomed the draft 
law and looked forward to its e ntry into force.  
6.8.  Members sought information about the trade regimes foreseen for the priority sectors 
identified by Nigeria in its diversification strategy. They commended Nigeria on its a gricultural 
policies but raised concerns regarding  its price support schemes for certain commodities under the 
Growth Enhancement Support Scheme and about its subsidies to fisheries. Several Members called 
upon Nigeria to dismantle its taxes and other rest rictions on imports of seafood, including fish and WT/TPR/M/356 • Nigeria  
 
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  fish products. They welcomed the elimination of fossil fuel subsidies, which had created market 
distortions in the oil sector, and enquired about the status of the Petroleum Industry Bill expected 
to regul ate the oil and gas sector.  
6.9.  Members stressed the growing importance of the services sector to Nigeria 's economy and 
called upon the country to enhance Public -Private Partnerships for the further development of the 
sector. They noted the significance of Nig eria's entertainment sector as the third largest in the 
world in terms of production. Members also appreciated the increased competition introduced in 
the telecommun ications sector through privatiz ation reforms, and highlighted the growth potential 
in the insurance sector due to its low penetration rate.  
6.10.   By now, Nigeria has responded  to almost all advance written questions. This review will be 
successfully concluded in a month 's time, when Nigeria replies to all outstanding questions.  
6.11.   I am certain that Nig eria will feel encouraged by the importance that Members have 
attached to this exercise which is very timely given Nigeria 's current drive to undergo important 
structural reforms. I would encourage Nigeria to continue its efforts to further liberalize trad e and 
investment for its own benefit and for the benefit of its trading partners. I hope the delegation will 
take into account the constructive comments that it has received during this TPR process while 
revisiting its economic and trade policies. This wou ld surely help Nigeria to enhance its 
competitiveness in the global economy, and its participation in the multilateral trading system.  WT/TPR/M/356 • Nigeria  
 
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  7  ADOPTION OF THE REVI SED RULES OF PROCEDU RE FOR TPRB MEETINGS  
7.1.  Let us now turn to the second item on our agenda, namely th e adoption of draft document 
WT/TPR/W/129 (dated 16 May 2017), which contains the revised Rules of Procedure for TPRB 
Meetings.  
7.2.  As mentioned in the fax that I sent to all delegations last 16 May, all Members have had an 
opportunity to comment on the draft  changes to the Rules of Procedure. Time has now come to 
officially adopt these changes. Please allow me to briefly go over the background information 
regarding this item in the agenda.  
7.3.  As you all know, these rules have been revised in accordance with the Sixth Appraisal of the 
Trade Policy Review Mechanism adopted on 21 Decem ber 2016 contained in document 
WT/TPR/389 .  
7.4.  You may remember that the previous TPRB Chair held an  informal meeting on 
16 January  2017 to discuss the draft changes, and in her fax dated  31 January 2017, she indicated 
that the revisions only reflect what had already been formally agreed by Members in the Sixth 
Appraisal. She also noted that given that no comments had been received since the TPRB 's last 
discussion, the approval of the revi sed Rules of Procedure should be straightforward. Her intention 
was to seek Members ' formal approval at the end of Sierra Leon e's TPRB meeting on 
16 February  2017. Nonetheless, some Members informed the Secretariat that they needed more 
time to complete th eir domestic formalities. These Members have now indicated to the Secretariat 
that they have completed such domestic formalities to allow for decision -making on approving the 
revision of the TPRB Rules of Procedure.  
7.5.  I trust that Members are ready to move ahead with the changes, and I therefore suggest that 
the TPRB adopts the revised Rules of Procedure cont ained in document WT/TPR/W/129.  
7.6.  This ends our meeting today. I look forward at seeing you al l at our next meeting  on 
5 July 2017 where the TPRB will review the European Union 's trade  policies.  
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