FG implements ECOWAS Common External Tariff on imports

CGC, Dikko Abdullahi
The Federal Government has approved the implementation of the ECOWAS Common External Tariff (CET) 2015-2019 and 2015 Fiscal Policy Measures.

The approval for the implementation of the new Tariff was conveyed in a statement signed by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo Iweala.

In a press statement issued by the Deputy Controller of Customs, Mr Wale Adeniyi, the implementation of the ECOWAS CET together with its Supplementary Protection Measures (SPM) and 2015 Fiscal Policy Measures occurs concurrently and will take effect from April 11, after the expiration of the 30 days notice required under the provisions of the ECOWAS CET.

With this development, all imports arriving into the country beginning from April 11, shall be subjected to the rates contained in the CET 2015- 2019 and 2015 Fiscal Measures without recourse to the rates applicable before the coming into effect of the ECOWAS CET 2015 – 2019, according to the statement.

Adeniyi added that the approved Supplementary Protection Measures (SPM)/Fiscal Policy Measures comprise an Import Adjustment Tax (IAT) list which involves additional taxes on 177 Tariff Lines of the ECOWAS CET.

It also includes a National List consisting of items whose Import duty rates have been reviewed to encourage more development in strategic sectors of the economy and an Import Prohibition List (Trade), applicable only to certain goods originating from non-ECOWAS Countries.

The Comptroller-General of Customs Dikko  Abdullahi, the statement added, has directed immediate enforcement of the tariff provisions by all Customs Controllers.

The statement urged all stakeholders to ensure compliance with the New ECOWAS Tariff to enhance trade facilitation within and outside the region.