Oritsegbubemi Omatseyin
Lagos — The Nigeria Customs Service, NCS, and the Nigerian Institute of International Affairs, NIIA, have reaffirmed their joint commitment to accelerating key trade reforms aimed at positioning Nigeria to achieve its ambition of becoming a $1 trillion economy by 2030.
This commitment was underscored during the NIIA Trade and Investment Forum held at the Bashir Adeniyi Centre for International Trade and Investment, BACITI, in Lagos.
Representing the Comptroller-General of Customs, CGC Adewale Adeniyi, the Assistant Comptroller-General of Customs, Babatunde Olomu, outlined the Service’s ongoing efforts to strengthen trade facilitation, modernize port operations, and improve Nigeria’s competitiveness in the global trade landscape.
Speaking on the theme, “Reforms to Results: Building a Trade-Ready Nigeria in the Emerging Global Order”, Olomu noted that Customs has identified critical reforms needed to eliminate bottlenecks, optimize port efficiency, and deepen Nigeria’s participation in international trade.
He emphasized that digitalisation remains central to these reforms, citing the deployment of advanced trade facilitation tools that have improved operational efficiency over the past year.
“Among these are the Advanced Ruling System, which enables traders to obtain pre-arrival decisions on classification and valuation of goods, thereby cutting costs, reducing delays, and preventing unnecessary demurrage,” Olomu stated.
He further highlighted the formal recognition of the Authorised Economic Operator, AEO, Scheme under the Nigeria Customs Service Act, explaining that Sections 108 to 112 outline a structured legal framework for accrediting compliant traders and granting them expedited services.
“These two initiatives, Advanced Ruling and the AEO programme, are practical tools through which the Customs Service is promoting efficiency and facilitating trade”, he added.
In his remarks, Professor Eghosa Osaghae, the Director-General of the NIIA, emphasized the importance of institutional collaboration in shaping Nigeria’s trade future, particularly within the context of the African Continental Free Trade Area, AfCFTA.
“We want to be a $1 trillion economy by 2030, so we must accelerate economic development. While foreign investment is important, we must also build our domestic productive base using our comparative advantages,” he said.
Addressing security concerns raised at the forum, the DG acknowledged that while the government continues to tackle insecurity, persistent challenges such as high insurance premiums for businesses operating in high-risk zones require comprehensive solutions.
