UK cuts tariffs on over 3,000 Nigerian export products

Under the Developing Countries Trading Scheme (DCTC), the UK has announced a tariff reduction on more than 3,000 products exported from Nigeria.

This information was provided on Tuesday by Mr. Richard Montgomery, the British High Commissioner, at a workshop on the UK Developing Countries Trading Scheme organized by the Federal Ministry of Industry, Trade, and Investment and the Nigerian Export Promotion Council (NEPC).

Montgomery, who was represented by Ms. Gill Atkinson, Deputy British High Commissioner to Nigeria, remarked that the program went into effect in June 2023.

99 percent of Nigeria’s exports to the UK, including cocoa and sesame oil, will be duty-free, according to the British government.

“Nigeria stands to benefit more than any country from the changes introduced by the DCTS. It will see tariff reductions on over 3000 products meaning that 99 percent of Nigerian exports to the UK by value will be duty-free tariffs promoting value addition in essential export items such as cocoa butter and paste, and sesame oil, among others”, he stated.