The United Kingdom has reiterated that 99% of Nigerian exports will continue to enjoy duty-free access under its Developing Countries Trading Scheme (DCTS).
The Developing Countries Trading Scheme (DCTS) aims to promote trade with developing nations, supporting their economic development. It simplifies trading rules, removes certain conditions, and cuts tariffs for 65 eligible countries, including Nigeria.
The DCTS was introduced by the UK government in 2023, replacing the former Generalised Scheme of Preferences (GSP). Compared to its predecessor, the DCTS offers simpler and more generous trade terms.
This scheme also benefits UK businesses and consumers by lowering the cost of importing thousands of goods from partner countries worldwide.
