Customs Partners with EU to Boost Trade and Monitor Exports in Nigeria

The Nigeria Customs Service (NCS) has recently announced a strategic partnership with the European Union’s (EU) Directorate-General, Taxation and Customs Union (DG TAXUD) to enhance trade, monitor exports, and improve documentation in Nigeria.

This collaboration aims to create a more efficient and transparent trade environment while fostering economic growth for both Nigeria and the EU.

According to the Comptroller-General of Customs, Adewale Adeniyi, the partnership is timely as the NCS is currently seeking a reliable digital platform to improve its document validation capabilities.

The collaboration is expected to open new opportunities for both Nigerian and EU registered exporters.

To ensure the effectiveness of this partnership, a framework will be established between the NCS and DG TAXUD to verify and validate exported commodities.

This framework will not only streamline the trade process but also address issues such as quality and storage concerns that have previously led to the return of goods from Nigeria.

The Nigeria Customs Service has also taken additional steps to facilitate trade, such as creating a “one-stop-shop” export seat for export documentation, which will reduce the time taken for Nigerian exporters to get their goods out of the port.

Furthermore, the NCS recently launched the Time Release Studies to target the importation of goods and the time it takes for businessmen to clear their goods in the port.

The partnership between the Nigeria Customs Service and the EU’s DG TAXUD is a significant step towards improving trade and monitoring exports in Nigeria.

By implementing a digital platform and establishing a collaborative framework, both parties aim to create a more efficient and transparent trade environment, ultimately benefiting the Nigerian and European economies.