Customs Unveils Tool to Minimise Goods Clearance Delays, Compliance Costs for Traders
Comptroller-General of Customs (CGC), Mr. Bashir Adeniyi yesterday launched the Advance Ruling trading tool to reduce compliance costs and foster a conducive business environment for traders.
He said the scheme also creates a more transparent business environment for the service's stakeholders in the trade and serves as a critical mechanism that allows traders to obtain binding decisions from Customs administrations on the classification, origin, and valuation of goods before importation.
Speaking at the ceremony in Abuja, Adeniyi said, "Today, we shall be taking the first step towards launching the Nigeria Customs Service Advance Ruling, starting with stakeholder engagement."
The CGC, who recognised the significance of the project, as it aligns with the World Customs Organization (WCO) and the World Trade Organization (WTO), also emphasised its relevance in facilitating both domestic and international trade while also promoting Customs compliance.
"According to the World Customs Organization (WCO) and the World Trade Organization (WTO), Advanced Ruling enhances predictability and transparency in customs procedures, streamlining trade processes and minimising delays, uncertainties, and costs associated with Customs clearance."
He commended President Bola Tinubu for laying the groundwork for improving the Nigerian economy and supporting the service.
Adeniyi said the launch of the initiative was apt and aligns with the policy directive of the president to facilitate trade for legitimate traders.
He said, "This is reflected in the Policy Advisory Document of the government, which signifies recent achievements, such as the approval to decongest the ports and make them free and accessible for importers and operators."
He further explained that the service had made all arrangements to conduct workshops and sensitisation sessions at Customs Area Commands to ensure that all stakeholders are well-informed and prepared to utilise the new mechanism effectively.
He, however, applauded the German International Cooperation Agency (GIZ) and other partners for their unwavering partnership and continued support towards achieving a significant milestone in trade facilitation activities under the Nigeria Energy Support Programme.
He said, "It is essential to acknowledge that initiatives like advanced ruling necessitate investments in capacity building for both officers and stakeholders. We are committed to leveraging our internal capacity while exploring collaboration opportunities with external partners like GIZ."