THE Federal Government has lifted the embargo on the importation of textile materials into the country. Confirming this in Lagos yesterday, the Comptroller-General of the Nigeria Customs Service, (NCS), Alhaji Abdullahi Dikko said that Nigerians can now import textile materials subject to payment of right duty.

Speaking at the official launching of the implementation of Economic Community of West Africa States, (ECOWAS), Common External Tariff, (CET), Dikko 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” said Abdullahi Dikko.
The Customs boss, who was represented by Victor Gbemudu, Assistant Comptroller General, Zone ‘A’, said that importers of these goods are now expected to pay 35 percent 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 percent adjustment. “This 3 percent 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 harmonized. He said that the CET is subject to review every five years.
He however said that poultry products still remain banned as government cannot allow their importation from outside the country. “If you go through the Common External Tariff you will see that a lot of items have been removed from the prohibition list and it is going to be implemented; mostly, furniture, textiles and the rest of them, most of them will now pay duty and will have Import Adjustment Tax (IAT)”

“The CET is not new, it embraces about 15 countries which includes Nigeria, all we are just doing is to bring stakeholders to understand what the CET is all about and to a large extent it comes with some adjustments for member countries”, he explained.

Speaking on the advantage of the CET on Nigerian economy, Gbemudu assured that there would no longer be policy somersault on importation, saying that importers can now project and plan five years ahead since the duty payable will remain the same. He charged stakeholders not to blame the Customs or the federal government for any inconveniences occasioned by the implementation of CET, saying that it is not peculiar to Nigeria, but that it is a regional thing.

Gbemudu said that  customs introduced the Import Adjustment Tax (IAT) in order to protect certain policies of government such as the sugar policy, agricultural policy, solid mineral policy among others.

The new CET regime according to an official of the tariff will eventually lead to consolidated regional market while stimulating regional production capacity and deepening economic integration. It will recalled that the Federal Government banned these items in 2010 with a view to growing the local industries.

Maxymilliano:
Lifting of ban on textile, others will be tragic for local industries, what the government should focus on is how to revive the wobbling industries ...

obailala:
The truth is that the ban was never enforced. The ban did not stop or even reduce the importation of textiles all. It was just an avenue for the ever corrupt customs officials to make so much money in the form of bribes; moneys which should have accrued to the government as duties. With the lifting of the ban, at least a chunk of those moneys received by the customs guys would get to the government.... and this govt is in desperate need of revenue.

shigoslim:

Trash it's clearly shows that u lack common basis economic analysis. If your government is desperately in need of revenue, lifting ban on importation is it the best solution to income generator ? If importation is higher than exportation what do u think it will result to ? Don't you think it's will definitely befall government revenue or income generation. We are talking of how government will boost our economy through diversification . If government encourage small scale industry and we start exporting to other country who will benefit most? Is'nt not Nigeria government....... Must we rely on importation ? Another setback forward change indeed Nigeria has enter one chance

obailala:

I can see you are very good at memorising your economics texbooks. But I can assure you that your texbook did not factor in the effect of corruption in its analysis. Goodnight

calebo101:
God forbid. Bad news and policies just dey follow Buhari up and down.

So what will now happen to our local businesses? Fold up? Soon the dullard will reverse the policies on the auto industries and chase away automobile companies setting up base in Nigeria.

Welcome to 1980s Nigeria.

PUSH1:
Do you really wear Nigerian textile? The Local businesses that lacks funding. What we need is foreign direct investment, improve what we have on ground, we can turn those small business into a bigger one. Nigerians believe that whatever is made in Nigeria is inferior, how would the local business grow? We don't even have made in Nigerian Original louis vuitton scandals. The global economy is moving very fast so we cannot start producing now what we know will not be beneficial to the world. However i expect them to ban importation of frozen birds in the next one year.

obailala:
The truth is that the ban was never enforced. The ban did not stop or even reduce the importation of textiles all. It was just an avenue for the ever corrupt customs officials to make so much money in the form of bribes; moneys which should have accrued to the government as duties. With the lifting of the ban, at least a chunk of those moneys received by the customs guys would get to the government.... and this govt is in desperate need of revenue.