Market News
‘3,500 Nigerian goods enjoy zero duties to UK’ - PUNCH
Nigeria’s export ambitions received a major boost on Thursday with the public unveiling of the third phase of the UK-Nigeria Standards Partnership Programme, a technical cooperation deal aimed at eliminating trade barriers, enhancing product competitiveness, and increasing market access, particularly for Nigerian exports into the United Kingdom.
The programme, a joint effort with the UK Foreign, Commonwealth & Development Office, brought together Nigerian enterprises and government stakeholders to enhance international trade and boost market growth.
This was as it was revealed by an official at the event that no fewer than 3,500 Nigerian products enjoy zero tariff import duties to the UK, via the UK’s Developing Countries Trading Scheme, a game-changer for local manufacturers, agribusinesses, and SMEs seeking entry into premium international markets.
The event organised by the Standards Partnership aims to deepen technical cooperation with the National Quality Council, facilitate the implementation of Nigeria’s National Quality Policy, and strengthen the institutional capacity of both the Standards Organisation of Nigeria and the Nigerian National Accreditation.
It builds on the improving trade relationship between both countries, amidst a growing number of British businesses’ investment interest in Nigeria and other African countries, drawn by the continent’s abundant mineral resources.
The programme, which officially launched in 2023, in 11 countries and island regions, including Nigeria, aims to enhance trade and boost sustainable and inclusive growth through the use of international standards.
Speaking in his welcome address, the Chairman and Chief Executive of the NQC, Ostia Aboloma, said the partnership is a turning point for Nigeria’s trade ecosystem, offering a strategic pathway to elevate the country’s export readiness.
He said this would, in turn, boost trade between the two countries by facilitating smooth import and export processes, while also significantly contributing to economic growth, job creation, and improved social welfare.
He said, “The Standards Partnership Programme is being undertaken between the Foreign and Commonwealth Development Office on behalf of the UK Government and the National Quality Council on behalf of Nigeria and is being implemented by the British Standards Institution.
“The Programme is targeted at supporting Nigeria through the NQC and the Arrowhead in the implementation of contemporary national quality policy, thus strengthening the national quality infrastructure pillars, namely standards, conformity assessment, metrology and accreditation towards greater efficiency and sustainability.
“This, without doubt, will enhance trading activities between the two countries via seamless import and export, as well as contribute immensely to economic development, job creation and social welfare.”
The UK High Commission’s Trade Market Access Lead, Simeon Umukoro, said the programme’s most remarkable achievement has been the institutionalisation of metrology, the science of measurement, as a vital tool for trade competitiveness.
