The UK government will eliminate tariffs on more than 3,000 products it imports from Nigeria. Nigerian exporters of plantain, fertilizers, tomatoes and more are among those that will benefit from the new tariff regime outlined in the UK’s new developing economies trading scheme, which targets 65 countries globally.
UK Deputy High Commissioner Ben Llewellyn-Jones issued a statement, saying: “Nigeria is one of the UK’s most important partners in Africa and the UK government is committed to working with Nigerian businesses and exporters to boost trade between our two great nations.”
Total trade volume between the UK and Nigeria stood at £5.5 billion ($6.8 billion) in the second quarter of 2022, according to a report from the UK’s international trade department published last week. Nigeria, Africa’s largest crude producer, is among the countries the UK has target to expand trade with since exiting the European Union in 2020.
Source: bnnbloomberg.ca