If you are a Nigerian exporter looking to expand into the UK, the United Kingdom’s new Developing Countries Trading Scheme (DCTS) is your gateway to easier, more profitable trade. With over 3,000 Nigerian products—including cocoa, cashews, textiles, and sesame oil—now eligible for duty-free or reduced-tariff access, this is a game-changer for businesses ready to scale internationally.
What Is the DCTS and Why Does It Matter for Nigerian Exporters?
The Developing Countries Trading Scheme (DCTS) is a UK government initiative aimed at enhancing trade with developing nations by facilitating easier and more profitable exports of products to the UK. The DCTS replaces the previous Generalised Scheme of Preferences, expanding the range of eligible products and simplifying trade rules for over 60 countries, including Nigeria.
The DCTS offers significant advantages for Nigerian exporters seeking to enter or expand within the UK market:
Lower Export Costs: Reduced or eliminated tariffs mean exporters can sell goods in the UK at more competitive prices, improving profit margins.
Easier Market Entry: Simplified documentation and customs procedures reduce administrative barriers, making it easier for businesses—especially small and medium-sized enterprises—to access the UK.
Broader Market Access: With the UK actively seeking new trade partners post-Brexit, Nigerian exporters now have a more direct route into one of the world’s largest consumer markets.
Growth Opportunities: The scheme encourages Nigerian businesses to scale internationally, diversify their export portfolio, and increase foreign earnings.
For many Nigerian exporters, especially SMEs, this could mark a turning point for scaling internationally.
For official details on the DCTS and to check your product’s eligibility, visit the UK Government’s DCTS page: Developing Countries Trading Scheme (DCTS) - GOV.UK.
How Leatherback Empowers Nigerian Exporters to the UK
While this is great news for Nigerian exporters, navigating international payments, currency risks, and compliance can still be complex. Leatherback is dedicated to helping Nigerian businesses overcome these challenges and succeed in the UK.
Key Ways Leatherback Supports Nigerian Exporters
Competitive Foreign Exchange (FX) Rates: Convert between naira, pounds, dollars, and euros with transparent, market-leading rates. Leatherback eliminates unnecessary markups and hidden fees, ensuring you keep more of your earnings.
Multi-Currency Business Wallets: Exporters can open and manage wallets in multiple currencies (NGN, GBP, USD, EUR) with local bank account numbers and virtual debit cards. This enables receiving payments in the buyer’s currency and controlling currency conversions to optimise cash flow and reduce exposure to exchange rate fluctuations
Fast, Secure Cross-Border Payments: Using a single, user-friendly dashboard, businesses can send and receive payments globally with speed and security. This streamlines transactions such as paying suppliers or collecting earnings from UK buyers, eliminating delays and reducing transaction costs.
Export-Friendly Financial Reporting: Leatherback provides detailed transaction tracking and financial summaries. These tools support better financial planning and ensure regulatory compliance for international trade.
Easy Onboarding and Global Reach: Setting up a Leatherback business account is quick and straightforward, with digital identity verification and minimal paperwork. Leatherback operates across multiple countries and currencies, offering Nigerian exporters a truly global financial platform to scale their operations.
Steps to Get Started with Leatherback
Check Product Eligibility under DCTS Visit the UK Government’s DCTS portal to confirm your products qualify and review the scheme requirements here.
Open a Leatherback Business Account Sign up in minutes to access multi-currency wallets and optimised FX solutions.
Integrate Your Financial Operations Collect, hold, convert, transfer, and receive funds globally, all with full visibility and control.
The UK’s revised trade policy is your opportunity to reach new customers and grow your business. With Leatherback as your financial partner, you’ll have the tools, rates, and flexibility you need to trade globally and profitably. Visit Leatherback Business or contact our team to explore tailored solutions for your export business.
