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UK Introduces New Trading Rules for Developing Countries

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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

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Nigeria, Benin Share Common Destiny, Deepen Strategic Partnership – Shettima

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Nigeria, Benin Share Common Destiny, Deepen Strategic Partnership – Shettima

By: Zagazola Makama

Vice-President Kashim Shettima has reaffirmed Nigeria’s commitment to strengthening bilateral relations with the Republic of Benin, describing both countries as partners bound by a “common destiny” rooted in history, trade and regional security.

Shettima stated this on Sunday in Cotonou during the inauguration of Benin’s President Romuald Wadagni, where he represented President Bola Ahmed Tinubu.

The Vice-President said the Tinubu administration views the Nigeria–Benin relationship as strategic to regional integration and democratic stability in West Africa.

“Our presence here in Cotonou underlines President Tinubu’s unwavering, deep-seated commitment to strengthening ties with our neighbours,” he said.

Shettima noted that both countries share deep cultural, historical and economic ties that predate modern political boundaries, stressing that communities on both sides of the border remain closely connected.

“Our border with the Benin Republic stretches across nearly 600 kilometres, spanning six Nigerian states… We are essentially one people tied to a common destiny,” he added.

He said Nigeria and Benin must continue to work together to promote democratic governance, peace and economic prosperity within the ECOWAS sub-region.

“Because of this, we must show solidarity, empathy and active support toward strengthening democracy in West Africa,” he said.

The Vice-President disclosed that bilateral trade between both countries stands at about $2 billion annually, while an estimated five million Nigerians reside in Benin Republic.

He said both countries had strengthened cooperation in border security, trade facilitation, grassroots governance and ae development under regional integration frameworks.

Shettima recalled that Nigeria and Benin formalised a Memorandum of Understanding in August last year to enhance collaboration among border communities, local governments and traditional institutions in tackling cross-border crimes and boosting socio-economic development.

He said the arrangement had improved security coordination and commercial activities in border towns such as Seme, Igbokofi and Ilara, while enhancing opportunities for residents engaged in cross-border trade.

The Vice-President also referenced ongoing regional economic frameworks under the ECOWAS Trade Liberalisation Scheme and the Common External Tariff system, aimed at improving the business environment across member states.

He added that both countries continue to implement the ECOWAS protocol on free movement of persons, which allows citizens to stay within member states for up to 90 days without visa requirements.

According to him, these initiatives remain critical to strengthening regional integration and sustaining peace and prosperity in West Africa.

Nigeria, Benin Share Common Destiny, Deepen Strategic Partnership – Shettima

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Troops Rescue INEC Official, Arrest Suspects After Election-Related Kidnapping Attempt in Cross River

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Troops Rescue INEC Official, Arrest Suspects After Election-Related Kidnapping Attempt in Cross River

By: Zagazola Makama

Troops have rescued an official of the Independent National Electoral Commission (INEC) and arrested three suspects following a reported kidnapping and disruption of election-related activities in Yakurr Local Government Area of Cross River State.

Security sources disclosed that the incident occurred at about 11:15 p.m. on May 22 when two groups of suspected kidnappers stormed the venue of ADC primary elections at Wummy Hotel, Ekori community.

According to the sources, one of the groups abducted the INEC returning officer, forced him into a vehicle, and compelled him to transfer ₦70,000 before fleeing the scene.

The second group, operating on a motorcycle, reportedly carted away ballot boxes from the venue.

Following intelligence on the incident, troops in Yakurr Local Government Area laid an ambush on the fleeing suspects, successfully intercepting the vehicle and rescuing the kidnapped INEC official.

Three suspects were arrested during the operation, while one armed suspect reportedly escaped into nearby bush with a pistol, a mobile phone, ATM card, travelling bag and other election materials.

The rescued official, arrested suspects and recovered vehicle are currently in military custody for further investigation and action.

Security forces have intensified efforts to track down the fleeing suspects and recover the stolen electoral materials.

Troops Rescue INEC Official, Arrest Suspects After Election-Related Kidnapping Attempt in Cross River

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Troops Raid Suspected Cultists’ Hideout, Arrest Three in Enugu State

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Troops Raid Suspected Cultists’ Hideout, Arrest Three in Enugu State

By: Zagazola Makama

Troops of 103 Battalion, in collaboration with the Nigeria Police Force, have raided a suspected cultists’ hideout in Achi town, Oji River Local Government Area of Enugu State, arresting three suspects and recovering items believed to be linked to criminal activities.

Security sources disclosed that the operation was carried out at about 4:30 a.m. on May 23 following credible intelligence on the activities of suspected cultists and other criminal elements operating in the area.

According to the sources, the troops stormed a residential building suspected to be used as a hideout by the criminal group.

During the raid, three suspects were apprehended, while items recovered include eight motorcycles and two buckets of locally made gunpowder.

The suspects and recovered items were subsequently handed over to the Nigeria Police Force for further investigation and necessary action.

Security authorities have continued to intensify joint operations in Enugu State and surrounding areas to curb cult-related activities and other forms of violent crime.

Troops Raid Suspected Cultists’ Hideout, Arrest Three in Enugu State

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