LAGOS: The Nigerian government has lifted the embargo on the import of textile materials into the country, according to media reports. The Comptroller-General of the Nigeria Customs Service, (NCS), Alhaji Abdullahi Dikko said in Lagos that Nigerians can now import textile materials subject to payment of specified duty.
At the official launching of the implementation of Economic Community of West Africa States (ECOWAS), Common External Tariff (CET), Dikko, who was represented by Victor Gbemudu, Assistant Comptroller General, Zone ‘A’, said that the items were removed from the prohibition list in line with the laws guiding the CET regime. “Textile, furniture and others have become dutiable as both commodities have been removed from the Import Prohibition Lists and it is going to be implemented.”
Gbemudu said that importers of these goods are now expected to pay 35 per cent duty as agreed by ECOWAS member countries as well as the levy as contained in the Import Adjustment Tax (IAT).
CET also comes with some adjustments for member countries. There are 97 chapters with the 5,899 tariff headings but every member country is entitled to 3 per cent adjustment. “This 3 per cent adjustment translates into 177 tariff headings to enable member countries to protect their local industries.”
Gbemudu said these items were banned because the government wanted to protect the local industries involved in the manufacturing of these goods. He also promised that by 2020, there would no longer be any item on the import prohibition list as everything would have been harmonised. He said that the CET is subject to review every five years.
