EXPORT PROHIBITION ACT REPEAL BILL

What Is This Policy?

A bill to repeal the Export (Prohibition) Act, which currently restricts the export of certain commodities from Nigeria, with the aim of liberalizing trade and promoting export-oriented economic growth.

Who Does It Target?

Exporters, manufacturers, agricultural producers, trade associations, and businesses involved in international trade.

What Does It Aim to Achieve?

Remove trade barriers on exported goods, promote export growth, attract foreign exchange, and enhance Nigeria's participation in global trade.

Key Features

Trade Liberalization: Removes restrictions on the export of previously prohibited items Economic Growth: Promotes export-oriented economic development Foreign Exchange: Aims to increase Nigeria's foreign exchange earnings through exports

Current Status

Rollout Stage: Under legislative consideration Coverage: All export-related trade from Nigeria Funding: Not applicable

How to Access

Current export regulations remain in effect. The bill, if passed, would change the regulatory landscape for exports.

Important Terms

The current Act prohibits the export of certain raw materials and commodities Repeal would require complementary regulatory measures to prevent abuse

Impact & Metrics

Could significantly boost Nigeria's export sector and contribute to economic diversification and foreign exchange earnings.

Official Resources

Website: nass.gov.ng Contact: National Assembly, Three Arms Zone, Abuja

Legal Framework

Introduced under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution (as amended) to repeal the Export (Prohibition) Act (Cap E25 LFN 2004). Draws on Nigeria's WTO obligations under GATT Article XI (general elimination of quantitative restrictions) and the ECOWAS Trade Liberalisation Scheme provisions on export facilitation. The African Continental Free Trade Area (AfCFTA) Agreement provides additional impetus for export liberalisation.