NCS: Our Trade Facilitation Processes Designed to Make Nigeria Attractive for Foreign Investments
Dike Onwuamaeze
The Nigeria Customs Service (NCS) has assured importers and exporters of goods and services that it has put in place trade facilitation processes that would enable them to carry out their transactions seamlessly and make Nigeria more attractive for foreign investments.
This assurance was given by the Comptroller General of NCS, Bashir Adewale Adeniyi, during the Lagos Chamber of Commerce and Industry (LCCI), “International Business Conference & Expo 2024, Invest Nigeria,” that attracted the attendance of international business people and ambassadors of Belgium, Germany, Israel, Bulgaria, Ireland and high commissioners of India, Kenya and Bangladesh to Nigeria.
Adeniyi, who was represented by the Customs Area Controller, TinCan Port Command, Comptroller Dera Nnadi, said, “the NCS is committed to facilitating international trade, reducing bureaucracy, and fostering investment in Nigeria,” adding that “through innovation, collaboration and consolidation; we are not only fulfilling our mandate but also contributing to the broader economic goals of our nation.”
He said: “Nigeria offers a wealth of investment opportunities, particularly in the non-oil sector. The NCS is committed to supporting foreign direct investments by ensuring that Nigeria’s import and export processes are as seamless as possible and our efforts in trade facilitation designed to make Nigeria a more attractive destination for foreign direct investment.”
He identified Authorised Economic Operator (AEO), Advanced Ruling and SAFE Framework of Standards as critical topics in trade facilitation.
He described the AEO program as a key initiative that recognised businesses that meet high security and compliance standards to grant them expedited “customs clearance and other benefits in fostering a secure and efficient trade environment.”
He added: “As mentioned earlier, the advance ruling mechanism is a critical tool for reducing uncertainty in trade transactions. It provides traders with the assurance that their goods will be treated consistently by customs authorities, thereby facilitating smoother trade operations.
“Also, the NCS has adopted the SAFE Framework of Standards to secure and facilitate global trade. This framework, which is developed by the World Customs Organisation (WCO), enhances the security and efficiency of supply chains, ensuring that goods move quickly and securely across borders.”
