Nigeria Eases Visa Restrictions to Boost Trade, Draw Investors

(Bloomberg) --

Nigeria eased visa rules under a new policy that seeks to attract investors and boost trade before a continent-wide trade deal comes into effect later this year.

Nationals of African Union-member countries will be entitled to a visa-on-arrival, while a new electronic visa targets visitors for tourism and entertainment, Interior Minister Rauf Aregbesola said Tuesday in Abuja, the capital.

The new visa policy “is intended to attract innovation, specialized skills and knowledge from abroad” to complement local expertise and also help African integration, President Muhammadu Buhari said in a statement emailed by the presidency.

Nigeria, which vies with South Africa to be the continent’s top economy, joined other nations to sign up for the African Continental Free Trade Agreement to create one of the world’s largest trade areas. The pact removes most tariffs and commercial barriers and commits African governments to greater economic integration.

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