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Implementing the ECOWAS Common External Tariff : Challenges and Opportunities for Nigeria

ACCOUNTING AD VALOREM ADJUSTMENT ASSISTANCE AGRICULTURAL PRODUCTS AGRICULTURAL SECTOR APPAREL APPAREL INDUSTRIES APPLICATION OF STANDARDS AVERAGE TARIFF BARRIERS TO TRADE BORDER TRADE CAPITAL GOODS CASE-BY-CASE BASIS COLLECTED TARIFF COMPARATIVE ADVANTAGE COMPETITIVENESS CROSS-BORDER TRADE CROSS-BORDER TRANSACTIONS CUSTOMS CUSTOMS ADMINISTRATION CUSTOMS CLEARANCE CUSTOMS DUTIES CUSTOMS MODERNIZATION CUSTOMS REGIME CUSTOMS UNION CUSTOMS UNIONS DEMAND ELASTICITY DOMESTIC MARKET DOMESTIC PRICE DOMESTIC PRICES DOMESTIC PRODUCERS DOMESTIC PRODUCTION EQUILIBRIUM EQUIPMENT EXPORT MARKET EXPORT OPPORTUNITIES EXPORT PERFORMANCE EXPORTER EXPORTERS EXPORTS EXTERNAL TARIFF FOOD INDUSTRY FOREIGN CAPITAL FOREIGN COMPETITION FOREIGN MARKETS FREE ACCESS FREE TRADE FREE TRADE AREA FREE TREATMENT GDP GLOBAL MARKET GLOBAL MARKETS GLOBAL TRADE GOVERNMENT REVENUE HIGH DUTIES HIGH TRADE BARRIERS HOME MARKET HUMAN RESOURCE IMPACT OF TRADE IMPORT BANS IMPORT DATA IMPORT LICENSES IMPORT PROHIBITION IMPORT PROHIBITIONS IMPORT TARIFF IMPORT TARIFFS IMPORTED PRODUCTS IMPORTING COUNTRY IMPORTS INCOME LEVELS INDUSTRIAL PRODUCTS INEFFICIENCY INEQUALITY INSTRUMENT INTERMEDIATE INPUTS INTERNATIONAL COMPETITION INTERNATIONAL DEVELOPMENT INTERNATIONAL TRADE LABOR MARKET LEVIES LEVY LIVING STANDARD MICRO ENTERPRISES MONETARY FUND NON-TARIFF BARRIERS POLICY PRIORITIES POLICY RESEARCH POLITICAL ECONOMY POSITIVE EFFECTS PREFERENTIAL MARGIN PREFERENTIAL MARKET ACCESS PRICE CHANGES PRICE INCREASES PRICE LEVELS PRODUCTIVITY PRODUCTIVITY GROWTH PROFIT MARGIN PROFIT MARGINS PROFITABILITY PROTECTIVE MEASURES REAL INCOME REGIONAL INTEGRATION REGIONAL TRADE REGIONALISM REMEDIAL MEASURES RULES OF ORIGIN STRUCTURAL CHANGE TARIFF BARRIERS TARIFF CHANGES TARIFF EXEMPTIONS TARIFF LEVELS TARIFF PROTECTION TARIFF RATE TARIFF RATES TARIFF REFORM TARIFF REVENUE TARIFF REVENUES TARIFF STRUCTURE TARIFF TREATMENT TAX TAX REVENUES TERMS OF TRADE TEXTILE INDUSTRY TOTAL REVENUE TRADE BARRIERS TRADE CHANNELS TRADE DATA TRADE FACILITATION TRADE FLOWS TRADE INTEGRATION TRADE LIBERALIZATION TRADE MODEL TRADE OPENNESS TRADE POLICY TRADE POLICY REFORM TRADE REFORMS TRADE REGIME TRADE REGULATIONS TRADE RELATIONSHIPS TRADE TAXES TRADING VALUE OF EXPORTS WAGES WELFARE OF CONSUMERS WORLD MARKET ZERO TARIFFS
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World Bank, Washington, DC
Africa | Nigeria
2014-07-21T15:37:29Z | 2014-07-21T15:37:29Z | 2014-06

The common external tariff (CET) for Economic Community of West African States (ECOWAS) was adopted at a Heads of State Summit in October 2013 in Dakar. This paper assesses the potential impact on Nigeria of implementing the new ECOWAS CET. It uses the World Bank's tariff reform impact simulation tool (TRIST) to simulate three scenarios: (i) keeping in place current import bans and levies which are charged in addition to tariffs, while implementing the CET tariff rate on non-banned products, (ii) removing the import bans and implementing the CET rate on all products, but keeping the additional import levies in place, and (iii) fully implementing the CET on all products and completely removing import bans and levies. The paper suggests that implementing the CET will have significant and largely positive effects on Nigerian consumers and producers. This note is intended to enrich the debate by presenting projections on the likely effects of CET implementation. To the extent possible with the limited available data, it gives a comprehensive overview of the effects to be expected on government revenue, the welfare of consumers, and the performance of Nigerian firms. It also discusses new opportunities for Nigerian firms to benefit from the regional market that are likely to arise if the CET is implemented. The note is organized as follows: section one gives introduction. Section two describes Nigeria's current trade profile with a particular focus on trade with the ECOWAS region. Section three makes use of the World Bank's TRIST to analyze the impact of implementing the CET in Nigeria in terms of changes in the level of protection by industry, government revenue from taxes levied at the border, consumer welfare, and the competitiveness of Nigerian firms. Section four shifts the focus beyond Nigeria's borders to look at the regional market within ECOWAS.

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