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UK Set To Reduce Tariffs On Nigerian Exports -British Envoy

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The government of the United Kingdom (UK) has announced that it is set to reduce tariffs on duty-free trade in goods exported from Nigeria with effect from April 2023 which was made known in Lagos by the Deputy British High Commissioner to Nigeria, Mr. Ben Llewellyn-Jones during the launch of the Developing Countries Trading Scheme (DCTS) which is an enhanced trade scheme created by the UK government meant to reduce tariffs on selected goods.

He said, “The UK government has reduced the tariffs of 90 percent of goods that Nigeria would export to our country and has also provided a preferential trading scheme for a range of other exports that the country might have.

“We have reached out to small and large businesses in different parts of the country and this is intended to help exporters and other people in the trading business to make the United Kingdom an export destination.

“This would also serve as an opportunity to grow the non-oil and gas sector in Nigeria and create jobs in the country and most importantly, we are reaching out to people at the grassroots level, so they can know what we are doing.”

He further noted that the proposed tariff cuts would ensure that about 3000 new products are duty-free for the first time, adding that the average existing tariff on the affected goods is 7 percent, therefore these changes would make Nigerian exports more competitive in his country.

Goods to be affected by the tariff cuts include cocoa butter, cotton, fertilizer, polyethylene, plantain, sesame oil, amongst others.