UK Reaffirms Commitment to Supporting Nigerian Exporters under Developing Countries Trading Scheme

Strategic Insights -

The UK has strengthened its bilateral trade ties with Nigeria through the Developing Countries Trading Scheme (DCTS), offering tariff reductions and simplified trade rules to boost market access for over 3,000 Nigerian products. As part of the UK-Nigeria Economic Diversification Dialogue, held in Lagos, the British High Commission announced the enhanced entry into the UK market for products such as ginger, cocoa, and cashew nuts. The move aims to stimulate non-oil exports and strengthen bilateral trade between both nations. Jonny Baxter, British Deputy High Commissioner, reaffirmed the UK's commitment to strengthening trade ties with Nigeria, noting that bilateral trade between both countries stood at APS7.9 billion in the 12 months ending March 2025.

Key Takeaways:

  • The Developing Countries Trading Scheme (DCTS) offers tariff reductions and simplified trade rules to boost market access for over 3,000 Nigerian products, including ginger, cocoa, sesame seeds, cashew nuts, soya beans, and textiles.
  • The DCTS aims to stimulate non-oil exports and strengthen bilateral trade between the UK and Nigeria.
  • The UK-Nigeria Economic Diversification Dialogue, held in Lagos, explored strategies for leveraging the DCTS to boost private sector participation, attract investment in value-added processing, and strengthen Nigeria's participation in global value chains.
  • The British High Commission organized a nationwide DCTS Roadshow in Kano and Lagos to raise awareness among Nigerian exporters about the benefits and requirements of the scheme.
  • Jonny Baxter, British Deputy High Commissioner, reaffirmed the UK's commitment to strengthening trade ties with Nigeria, noting that bilateral trade between both countries stood at APS7.9 billion in the 12 months ending March 2025.
  • The DCTS provides generous tariff reductions and simplified trade rules for developing countries, opening new opportunities for Nigerian exporters in key sectors such as agriculture, manufacturing, and textiles.
  • Propcom+ market development programmes will unlock new opportunities for trade, investment, and innovation across key sectors.
  • The UK remains a steadfast partner in supporting Nigeria's ambition to stimulate economic growth through initiatives such as the Developing Countries Trade Scheme (DCTS) and joint efforts with the Federal Ministry of Industry Trade and Investment (FMITI) on standards and export readiness.
  • The DCTS simplifies trade documentation and rules of origin to make market entry easier for small and medium-scale exporters.

Statistics:

  • 3,000 Nigerian products are set to benefit from enhanced entry into the UK market under the DCTS.
  • Bilateral trade between the UK and Nigeria stood at APS7.9 billion in the 12 months ending March 2025.
  • 2023: The year the DCTS was launched.
  • The DCTS provides generous tariff reductions for developing countries, opening new opportunities for Nigerian exporters.

Sources:

  • Statement signed by the British High Commission.
  • Jonny Baxter, British Deputy High Commissioner, at the UK-Nigeria Economic Diversification Dialogue.
  • Permanent Secretary of the Federal Ministry of Trade and Investment, Orji Gertrude, Director of Trade and Investment.
  • UK-Nigeria Enhanced Trade and Investment Partnership (ETIP).
  • UK's Department for Business and Trade (DBT).
  • Federal Ministry of Industry Trade and Investment (FMITI).
  • Propcom+ market development programmes.