The Nigeria Customs Service has unveiled another roadmap towards simplifying trade in Nigeria through fast-tracking compliant traders in line with the World Customs Organization protocol.
The project, called Authorized Economic Operators’ (AEO), has the protection of the new Nigeria Customs Service Act 2023. It will be designed to systematically identify tolerable risks affecting legitimate goods import into Nigeria.
During a presentation on implementation modalities at Customs headquarters in Abuja on Wednesday, Ag. Comptroller-General of Customs, Adewale Adeniyi, re-echoed his commitment to tackling the challenges bedevilling trade facilitation in Nigeria.
The CG, however, said that compliant traders and businesses of significant benefits should embrace the innovation, ensuring it will be a game-changer in trade facilitation.
It is also believed that the AEO project will contribute to the ease of doing business across various sectors and attract investors to the country.
The process, which is expected to improve security and efficiency in fast-tracking goods, is designed to reduce turnaround time for importers and double up revenue chances, which, according to Adeniyi, will strengthen mutual recognition between the Service and stakeholders.
In addition to reducing examinations and prioritizing examinations, AEO offers other benefits.