News
UK Introduces New Trading Rules for Developing Countries
UK Introduces New Trading Rules for Developing Countries
By Michael Mike
The United Kingdom (UK) said it has radically simplified trading rules and cut tariffs on products from developing countries, saving businesses and consumers millions of pounds a year.
A statement on signed by the
Senior Press & Public Affairs Officer | Comms Lead, Prosperity and Economic Development, Ndidiamaka Eze said the
UK’s new post-Brexit Developing Countries Trading Scheme (DCTS) scheme has entered into force on Monday and that it covers 65 countries, including Nigeria.
The statement said the scheme removes or reduces tariffs and simplifies trading rules so that more products qualify for the scheme, making it more generous than the EU scheme the UK was previously a member of.
Eze, in the statement, said: “The scheme will benefit developing countries looking to diversify and increase exports, driving their prosperity and creating jobs. Over time, were developing countries to increase trade with the UK under the scheme, businesses could save millions more on import costs.
“In Nigeria, over 99% of goods exported from the country will automatically be eligible for duty-free access to the UK. Nigeria will receive enhanced preferential
access for almost 3,000 products. E.g. 4.5% removed on cocoa paste, 26.5% removed on fruit juices, & 14% removed on prepared tomatoes.”
Eze disclosed that the UK’s Minister for International Trade Nigel Huddleston launched the scheme while on a visit to Ethiopia’s largest industrial business park, Bole Lemi.
Speaking at the park, Minister Huddleston, was quoted to have said:
“This DCTS scheme is a brilliant example of the UK taking advantage of its status as an independent trading nation and I am excited to see it implemented
today.
“It will create opportunities for businesses around the world, supporting livelihoods, creating jobs and diversifying local and international supply chains. It will also benefit UK businesses and consumers by lowering import costs on a whole range of products.”
The Foreign, Commonwealth and Development Office’s Minister for Development and Africa, Andrew Mitchell, was also quoted to have said that: “The UK’s new trading scheme for 65 developing countries, DCTS, shows how we can use trade to deliver development.
“It will benefit traders around the world, including women-owned businesses, which we are supporting through the UK Trade Partnership programme.”
The scheme is to benefit businesses all over the world and British companies that trade with these countries in everyday products such as bicycles and camping
gear.
Speaking on the launch, UK Deputy British High Commissioner in Lagos, Ben Llewellyn-Jones said:“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. The UK’s Developing Countries Trading Scheme harnesses the power of trade to help Nigeria and other emerging economies grow and prosper.
“One major benefit of this new UK trading scheme is that it abolishes tariffs on over 3000 everyday products that Nigeria currently exports including cocoa, cotton, plantain, flowers, fertilizers, tomatoes, frozen shrimps and sesame. The overarching aim of the new scheme is to grow trade with developing countries, boosting the economy and supporting jobs in those countries, as well as in ours.”
UK Introduces New Trading Rules for Developing Countries
News
Gombe Govt restates commitment to MSMEs growth
Gombe Govt restates commitment to MSMEs growth
The Gombe State Government, on Friday engaged stakeholders in the finance sector towards easing access to credit and ensuring the growth of Micro, Small and Medium Enterprises (MSMEs) in the state.
Malam Muhammad Magaji, the state’s Commissioner of Finance and Economic Development stated this in Gombe while declaring open the State Action on Business Enabling Reforms (SABER) Programme, themed: “Guide to Access Credit”.
Magaji said that the meeting was aimed at creating an environment conducive for business growth by removing the bottlenecks around accessing finance.
He said that the administration of Gov. Inuwa Yahaya of Gombe State has prioritised the development of businesses and industries to drive economic prosperity for the state, create jobs and improve the wellbeing of residents.
Magaji who was represented by Mr Jalo Ibrahim, the Permanent Secretary, Ministry of Finance and Economic Development said that the state is now more deliberate in supporting small business owners to grow.
According to him, Yahaya-led administration’s commitment to MSMEs growth is to ensure inclusive growth of the economy in view of the role of such small businesses to economic transformation.
“We are engaging the financial institutions and relevant stakeholders to see how we can remove the barriers affecting access to credit to SMEs in the state.
“This is part of the current administration’s commitment to strengthening access to loan facilities that would give life to small businesses and help more youths start up businesses.
“We are very committed as a government to see to it that we provide all the needed supports to make doing business in Gombe State easy.
“Government will inject more money into the system to serve as collateral for business owners and also serve as guarantor to those who are willing to access finance,” he said.
On his part, Alhaji Nasiru Aliyu the Commissioner for Trade, Industry, and Tourism,
Gombe State restated the state government’s commitment to industrialising the state and attracting investors.
Aliyu said that Yahaya’s administration had invested a lot to boost industrial growth and turn the state into the industrial and evonomic hub of North East.
Mr Kabiru Tsoho, the SABER focal person for Gombe State said that the SABER Programme is a World-Bank project aimed at easing businesses towards accelerating the growth of the economic sector.
Tsoho said the engagement would help remove impediments to accessing finance and encouraging business growth.
“This will help improve business environment and encourage investment which would provide more opportunities for jobs to be created and for economic empowerment of women and youths,” he said.
Mr Sanusi Abdullahi, Chairman, Traders Association of Nigeria, Gombe State chapter commended the initiative by the state government and World Bank to make doing business easy.
Abdullahi said with improved access to loans, there would be more youth employment and improvement in the standard of living of residents of the state.
Gombe Govt restates commitment to MSMEs growth
News
Troops arrest gunrunner, recover arms, ammunition in Plateau
Troops arrest gunrunner, recover arms, ammunition in Plateau
By: Zagazola Makama
Troops of 3 Division of the Nigerian Army under Operation Joint Task Force, Operation Enduring Peace (OP Enduring Peace), have arrested a suspected gunrunner and recovered arms and ammunition in Bokkos and Mangu Local Government Areas of Plateau State.
The operations, conducted on Thursday, were part of ongoing efforts to mop up illicit arms and ensure a peaceful yuletide season within the Joint Operations Area, military sources said.

In the early hours of the day, troops, in conjunction with operatives of the Department of State Services (DSS), raided a suspected criminal hideout at Gwender Village in Bokkos Local Government Area, following intelligence reports.
Although the suspects reportedly fled before the arrival of the troops, a search of the hideout led to the recovery of one fabricated AK-47 rifle with a magazine, one fabricated pistol and several rounds of ammunition of different calibres.
In a related operation, troops working with a DSS Tactical Team mounted a snap checkpoint at Mairana in Mangu Local Government Area, based on credible intelligence.
During the operation, a Fulani youth was intercepted and arrested while in possession of two boxes of ammunition containing 1,400 rounds of 7.62mm special ammunition.
The suspect and the recovered items are currently in custody for further investigation, while troops have intensified follow-up operations to apprehend other members of the suspected criminal syndicate.
The military reiterated its commitment to sustaining pressure on criminal elements to ensure peace and security across Plateau State and the wider Joint Operations Area.
Troops arrest gunrunner, recover arms, ammunition in Plateau
News
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
By: Our Reporter
Borno State Governor, Prof. Babagana Umara Zulum, has launched an empowerment package worth N1,000,000,000 targeting thousands of young residents, mostly GSM repairers and technicians.
The initiative targets 1,050 youths who will be trained on phone repairs and maintenance; about 3,000 other apprentices will receive cash.

Each of them will receive a complete set of modern working tools, including an 852D hot air rework station, a separating machine Kc2025, a battery booster S2025 pro, an adjustable temperature soldering iron V900c, a digital multimeter DT9205Plus and a precision screw driver set 60 in 1, to enhance their own repair businesses.
In addition to the tools, all 1,050 GSM repair trainees will receive direct cash support to serve as seed capital for their ventures.
The disbursement comprises four categories: the first group, consisting of 26 beneficiaries each receiving N1 million; the second group, 189 beneficiaries each receiving N300,000; the third group, 835 beneficiaries each receiving N100,000; and the fourth category, 3,500 apprentices, each receiving N100,000 and different calibres of working tools. The training cost is N482 million.

Speaking during the launching ceremony, Zulum said: “It gives me immense pleasure and a deep sense of fulfilment to stand before you today on this historic occasion—the official launch of the disbursement of N1 billion empowerment scheme alongside the training of operators at the GSM Market here in Maiduguri.”
The governor also recalled several initiatives by his administration on investment in human capital development.
He said, “Only recently, this administration took a bold and visionary step by sponsoring two hundred youths to study aircraft piloting and aeronautic engineering at Isaac Balami University.
“This initiative is designed to place Borno State on the global aviation map and demonstrate that, despite our challenges, we are preparing our youths for world-class opportunities. The process is almost completed.

“So far so good, about 400 Borno state indigenes are pursuing PhDs and master’s degrees abroad. In addition, 100 of our youths are currently studying Medicine and related courses in China.”
The occasion was attended by the senator representing Borno Central, Barrister Kaka Shehu Lawan; members of the House of Representatives; the deputy speaker of the Borno State House of Assembly, Engr Abdullahi Askira; commissioners and senior government officials.
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News8 months agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
