The joy of businessmen in Nigeria knew no bounds yesterday as the Comptroller-General of the Nigeria Customs Service (NCS), Alhaji Abdullahi Dikko, announced that the Federal Government has reverted the ban on the importation of textiles and furniture into Nigeria. at the official launching of the implementation of Economic Community of West Africa States, (ECOWAS), Common External Tariff(CET) in lagos
Dikko, at the official launching of the implementation of Economic Community of West Africa States, (ECOWAS), Common External Tariff(CET) in Lagos, said that the items were removed from the prohibition list in line with the laws guiding the CET regime.
It will be recalled that the Federal Government banned these items in 2010 to protect the local industries whose level of growth was hampered by the massive importation of these goods and services.
Among the banned goods were: textile fabrics of all types and articles thereof and yarn falling under the following H.S. Codes remain under import prohibition; African print [Printed Fabrics] e.g. Nigeria wax, Hollandaise, English Wax, Ankara and similar Fabrics under the following H.S. Codes – 5208.5110 – 5208.5900, 5209.5100 – 5209.5900, 5212.5100, 5212.5100, 5212.2500, 5407.4400, 5407.5400, 5407.7400, 5407.8400, 5407.9400, 5408.2400, 5408.3400, 5513.4100 – 5513.4900, 5514.4100 – 5514.4900, 5516.1400, 5516.2400, 5516.3400, and 5514.4900.00 ,carpets and rugs of all types falling under H.S. Codes 5701.1000 – 5705.0000
The laws guiding CET has mandated that “textile, furniture and others have become dutiable as both commodities be removed from the Import Prohibition Lists and it is going to be implemented,” Dikko said.
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.
Only the future can tell if this law will not bring to extinction the already sinking local furniture and textile industry and its aftermath implication to the economy
