Nigeria Customs Service unveils roadmap to simplify trade
Story from Haruna YUSUF
In a bid to streamline trade processes in Nigeria and align with the World Customs Organization protocol, the Nigeria Customs Service has introduced a new project called “Authorised Economic Operators” (AEO). This project, backed by the new Nigeria Customs Service Act 2023, aims to identify and manage acceptable risks associated with the importation of legitimate goods into the country.
During a presentation at the Customs Headquarters in Abuja, the Acting Comptroller-General of Customs, Adewale Adeniyi MFR, reiterated his commitment to addressing the challenges faced in trade facilitation in Nigeria. He emphasized that compliant traders and businesses will greatly benefit from this innovative project, which will revolutionize the landscape of trade facilitation.
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The AEO Project is expected to contribute to the ease of doing business in various sectors and attract investors to the country. By improving security measures and streamlining processes, it will reduce turnaround time for importers and increase the likelihood of generating revenue. The project also aims to strengthen mutual recognition between the Nigeria Customs Service and stakeholders.
One of the key benefits of the AEO Project includes a reduction in examination and priority examination, among other advantages. This streamlined approach will enhance efficiency and provide a smoother experience for compliant traders, further promoting a conducive trade environment.
Overall, the unveiling of this roadmap marks a significant step towards simplifying trade operations in Nigeria and creating a more favorable climate for business.
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