Business
UK Confirms 99% Duty-Free For Nigerian Exports
The United Kingdom has confirmed that Nigeria will continue to enjoy duty-free access on 99% of total goods exported to the UK market under the Developing Countries Trading Scheme (DCTS).
This is just as the UK reinforced its long-term ambition to deepen trade ties, support Nigerian exports and promote economic growth for both our countries
The DCTS is part of the UK’s strategy to support growing economies like Nigeria by reducing tariffs on thousands of goods, simplifying export rules for Nigerian businesses and making it easier to qualify for trade benefits. The scheme lowers import cost for UK businesses and offers consumers a wider range of affordable products.
Since its launch in June 2023, the DCTS allows Nigeria and 36 other African countries to export over 3,000 products duty-free or at reduced tariffs to the UK, supporting Nigerian businesses to grow and become more competitive on the global stage.
Through the DCTS, Nigerian exporters can sell key goods like cocoa, yam, tomatoes, plantain, shrimp, and other agricultural products to the UK at reduced tariffs.
The scheme also supports processed and value-added products like cocoa paste and cocoa butter, sesame and Palm oil, cashew nuts, cotton clothing, and cocoa paste, helping Nigeria move beyond raw exports.
Commenting on the DCTS, British High Commissioner to Nigeria, Dr Richard Montgomery, said “as one of the UK’s most important partners in Africa, Nigeria stands at the heart of the UK’s global trade ambitions, and we want to strengthen the trade ties between our two great nations and unlock the power of sustainable and transformative growth in Nigeria and across emerging economies.
“A major advantage of the UK’s developing countries trading scheme is the reduction or complete elimination of duty-tariffs on everyday goods such as cashew nuts, cocoa, cotton, plantain, tomatoes, prawns, and sesame. This isn’t just about improved access into the UK market, it’s about building a fairer, freer global trading system that supports economic growth and job creation, both in developing countries and in the UK.”
Speaking further, Dr Montgomery added that “through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) we are continuing to work alongside the Federal Ministry of Industry, Trade and Investment (FMITI) to tackle export challenges and ensure the DCTS is fully leveraged by Nigerian businesses to improve trade growth between our two countries.”
This trade framework is part of a wider UK effort to build strong economic ties across the world, with recent trade agreements also signed with major economies like India and the United States.
Tribuneonlineng.com
The Nigerian currency, Naira (₦), continued its battle against the United States dollar at the official foreign exchange market on Saturday.
Daily Voice reports that data from the Central Bank of Nigeria (CBN) showed that the local currency sold at ₦1,321.2160/1$ on Sunday.
The latest rate is the same as Saturday’s rate of ₦1,321.2160/1$.
At the parallel market (black market), however, the naira closed on Sunday at ₦1,400 to the dollar.
The offers by commercial banks, Bureau de Change (BDC) operators, and other foreign exchange dealers may, however, differ from the reference rates due to transaction margins and prevailing demand and supply conditions.
Market participants will continue to monitor foreign exchange inflows, demand for dollars, and CBN policies for indications of whether the naira can sustain its gains through the month.
Cement prices in Nigeria remain elevated, with a 50kg bag selling for between ₦12,000 and ₦15,000 in many markets, putting further pressure on builders, contractors and Nigerians planning construction projects.
The latest market data shows that although some brands are currently available below the ₦15,000 mark, the industry remains significantly more expensive than it was at the end of 2025 and early 2026.
Recent market quotations show the following indicative prices for a 50kg bag:
Note: prices may vary by location and transportation costs.
These figures are based on a September 1 market report and can vary depending on location, transportation costs, dealer margins and supply conditions.
However, July industry data painted a more expensive picture. CementNet reported retail prices of ₦12,000 to ₦15,000, with Dangote selling for about ₦13,000–₦15,000, BUA at ₦12,000–₦14,500, and HBM Nigeria, formerly Lafarge Africa, at ₦12,000–₦13,500.
The latest figures suggest that cement prices may have eased from the highest quotations seen earlier in the year, but the broader trend remains upward.
In July, The Guardian reported that a 50kg bag typically sold for ₦12,500–₦15,000 across major markets including Lagos, Abuja and Abia.
The Federal Competition and Consumer Protection Commission (FCCPC) also reported that prices had reached between ₦13,000 and ₦15,000 in some locations during the first half of 2026.
This means the current ₦12,000–₦14,000 quotations for several major brands should be viewed as some market-level moderation rather than a broad collapse in cement prices.
Why cement remains high
High energy and transportation costs continue to weigh heavily on the industry. Cement manufacturing requires significant amounts of energy, while moving cement from factories and depots to retail markets adds further costs.
Location is also playing an important role. Buyers in areas farther from production centres can pay substantially more because of haulage and distribution expenses.
The situation is particularly significant because Nigeria has substantial cement production capacity, yet retail prices remain high. The Guardian reported that domestic production exceeds consumption, with surplus output exported to neighbouring countries.
Nigerian civil servants on Grade Level 8 now earn between N1,479,276 and N1,914,514 annually, depending on their step within the scale, following the new minimum wage signed under President Bola Tinubu’s administration.
The figures fall under the Consolidated Public Service Salary Structure (CONPSS), the framework that governs pay across Nigeria’s federal civil service.
CONPSS covers 17 grade levels in total, and a worker’s position within each level is shaped by their qualifications, length of service, and performance record.
Grade Level 8 has 14 steps, with each step representing a progression in earnings. Below is the full breakdown:
The gap between the lowest and highest steps at this level amounts to N435,238, reflecting how significantly length of service can affect take-home pay within a single grade.
Interest in the salary structure has grown since Tinubu’s government approved a new national minimum wage, which triggered a review of earnings across the public sector. Civil servants and job seekers have been keenly examining each grade level to understand what the adjusted structure means in practical terms.
Workers at Grade Level 8 are typically mid-level employees with some years of experience in the civil service. Their earnings sit above the entry-level grades but below the senior cadre, making this level a reference point for many who are planning career progression within the federal workforce.
New Files Allege Sudan Military Built Chlorine Weapons Program
Former Nigerian Senator dies At 62
2027: ADC Suffers Setback As Popular Reps Aspirant Dumps Party
Former Super Eagles Star Loses Life Savings, Duped By A Pastor of ₦1.2 Billion
I’m A Married Man, I Can Never Get Myself Involved With Such A Thing, Delta Gov Aide Reveals Why He Offered Comfort ₦500,000 Job
