Nigeria: Nigeria to Adopt ECOWAS Common Tariff - January 2015
Nigeria would begin the implementation of ECOWAS Common External Tariffs beginning January 1, 2015 to comply with ECOWAS Heads of State’s adoption of a five-band regional CET. ECOWAS CET seeks to liberalize trade in line with WTO guidelines by harmonizing tariff charges within ECOWAS countries within a five tariff band ranging from zero to 35 percent. However, the adopted ECOWAS CET does not reflect intended progress towards trade liberalization as individual countries still have sovereignty over imposition of levies, taxes, quotas, import ban, etc. Member countries, including Nigeria, are also allowed to continue to employ restrictive trade policies on many food and agricultural products.
Nigeria: Nigeria to Adopt ECOWAS Common Tariff - January 2015
