More facts have emerged why Nigeria has not signed the Economic Community of West African States, ECOWAS, Common External Tariff, CET, five years after it was adopted by the 16 Head of States and Government of member countries including former President Goodluck Jonathan, in Dakar, Senegal. This is because the CET model may not have favoured Nigeria and the fear of losing the market because of unfair competition with the foreign competitors.

The CET model which was said to have been patterned after the UEMOA CET composed of four tariff bands of Customs duty: Essential social goods, zero percent duty, goods of primary necessity, raw materials and specific inputs,5 percent, Immediate goods, 10 percent and final consumption goods, 20 percent.


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Source: http://www.thevaluenews.com.ng/business/why-nigeria-has-not-signed-the-ecowas-common-external-tariff/


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