The Minister of Industry, Oduwole, announced that discounted freight rates are currently 75% lower than standard commercial rates. This significant reduction is part of Nigeria's strategy to enhance its participation in the African Continental Free Trade Area (AfCFTA). The initiative aims to facilitate trade across the continent and improve the competitiveness of Nigerian goods in the regional market. Oduwole emphasized that these measures are essential for boosting economic growth and fostering stronger trade relationships within Africa.
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