Ndubuisi Francis in Abuja
The Trade Policy Review organ of the World Trade Organisation (WTO) expressed concerns over the high rate of physical inspection of containers at Nigerian ports. It urged the country to review its customs procedure to promote timely and cost-effective practices.
Members of the body also stated that longstanding import prohibitions on a wide array of agricultural products, coupled with tariff peaks and additional levies, had the potential to worsen food insecurity, higher food price inflation, and negatively affect private sector investments in the agricultural sector.
Many members of the trade policy review body also expressed concerns over the high number of outstanding notifications by Nigeria, including on anti-dumping, agriculture, subsidies, state trading enterprises, quantitative restrictions, and import licensing.
Those were part of the submissions made by members of the body during the just-ended sixth Trade Policy Review of…
Source: Thisday Newspaper
