UK Extends 99% duty-free access to Nigerian exports, boosting non-oil sector

The United Kingdom has reaffirmed its commitment to Nigeria’s economic diversification by continuing to grant duty-free access to 99% of Nigerian exports under its Developing Countries Trading Scheme (DCTS).

This move is set to significantly enhance the competitiveness of Nigerian non-oil products in the UK market and bolster the West African nation’s economy.

“Nigeria remains one of our key trading partners in Africa. The DCTS is designed to support growth in trade and improve economic resilience,” stated British High Commissioner to Nigeria, Richard Montgomery.

He emphasized that the initiative will play a crucial role in boosting local industries and creating jobs within Nigeria.

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Under the DCTS, Nigerian exporters will continue to enjoy reduced tariffs or zero-duty access for a wide range of products, including cocoa, cashew, textiles, leather, and processed foods.

This preferential access is expected to increase Nigeria’s foreign exchange earnings and reduce its long-standing dependence on crude oil exports.

While welcoming the news, Nigerian exporters and trade analysts have called on the government to capitalize on this opportunity by addressing critical internal challenges.

These include the urgent need for improved infrastructure, enhanced logistics, and stricter compliance with international quality standards to fully leverage the benefits of the DCTS.