Stable with slight increase of 2% compared to 2021
Special Rates
Preferential Rate
5%
Applicable under specific trade agreements or for qualifying goods under temporary import relief schemes; subject to documentation and approval.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Nigeria Trade Talks on Automatic Record Changing Mechanisms
Recent bilateral discussions between the US and Nigeria focused on increasing exports of automatic record changing mechanisms (HS Code: 8479.89.90) from the US to Nigeria, aiming to meet growing demand in Nigeria's industrial sector.
October 15, 2023
Impact: Potential increase in US exports to Nigeria, fostering stronger trade ties and supporting Nigeria's industrial automation needs.
Nigeria Imposes Temporary Import Restrictions on Machinery
Nigeria introduced temporary restrictions on certain machinery imports, including automatic record changing mechanisms, to encourage local production and conserve foreign exchange reserves.
September 20, 2023
Impact: Possible reduction in US exports of these mechanisms to Nigeria in the short term, prompting US exporters to seek alternative markets or negotiate exemptions.
US Trade Delegation Visits Nigeria to Boost Tech Exports
A US trade delegation visited Nigeria to promote exports of advanced machinery, including automatic record changing mechanisms, under the African Growth and Opportunity Act (AGOA).
August 5, 2023
Impact: Likely to enhance market access for US manufacturers, potentially increasing trade volume of these mechanisms to Nigeria.
Policy Updates
Nigeria's Revised Import Tariff on Machinery
Nigeria updated its import tariff structure, increasing duties on certain machinery, including items under HS Code 8479.89.90, to protect domestic industries while offering waivers for critical equipment under specific conditions.
Date: September 25, 2023
US Trade Policy Review on African Markets
The US Trade Representative announced a policy review to strengthen trade relations with African countries, including Nigeria, with a focus on technology and machinery exports under preferential trade agreements like AGOA.
