Nigeria, Benin Set Timeline For Trade Agreement
The Federal Government and the Republic of Benin have established a joint trade framework aimed at eliminating bottlenecks, boosting economic development, and creating cross-border opportunities.
Officials from both nations reached the agreement during a high-level meeting held on Saturday, at the Ministère de l’Économie et des Finances in Cotonou, Benin Republic.
The Comptroller-General of Customs, Adewale Adeniyi, affirmed the Service’s commitment to implementing the outcomes of the trade agreement.
He disclosed that both parties expect to sign a formal Memorandum of Understanding (MoU) by the “first quarter of 2026”.
“What we have witnessed today is the culmination of intensive technical meetings between Nigeria and Benin Customs officials over the past 48 hours.
“We’ve developed a joint framework that reflects our Presidents’ shared vision for economic growth,” he stated.
Adeniyi outlined plans to introduce corridor-based solutions that will enhance transit and transhipment trade while removing bureaucratic delays that affect small and medium-sized enterprises.
“We’re committed to removing trade barriers that hinder local businesses. New trade corridors have been identified, and connectivity between our systems has already been activated,” he added.
Nigeria’s Minister of Industry, Trade, and Investment, Mrs. Jumoke Oduwole, also praised the bilateral framework as a bold move in advancing West Africa’s regional economic strategy.
She further noted Nigeria’s aspiration to evolve from a regional trade participant to a global influencer in shaping equitable and inclusive international trade systems.
“This agreement signals strong political will from both countries to pursue a progressive and inclusive trade relationship,” she said.
She referenced the recent signing of a preliminary Memorandum of Understanding by Presidents Bola Tinubu and Patrice Talon during the West African Economic Summit.
According to her, both leaders had directed their technical teams to turn political intentions into actionable trade policies.
“Our joint commitment is to dismantle barriers, improve logistics, and ensure that trade becomes a tool for job creation and regional prosperity.
“The Heads of Customs of both nations have demonstrated commendable synergy, which we are expanding through four thematic working groups covering trade facilitation, enforcement, data sharing, and infrastructure,” she explained.
The session convened senior government officials, Customs chiefs, and trade experts from Nigeria and Benin to shape a collaborative approach toward more efficient cross-border trade.
Participants also embarked on a joint tour of the Cotonou Port to review port operations and identify opportunities for modernisation.
The delegation later visited the Seme-Krake Joint Border Post as part of the engagement.
Nigeria, Benin Set Timeline For Trade Agreement is first published on The Whistler Newspaper
