The Nigeria Customs Service (NCS) announced on Wednesday that the Authorised Economic Operator (AEO) initiative, which is still in its trial phase, has saved importers, logistics operators, and Small and Medium Enterprises (SMEs) N100 million in four months.
The Comptroller General of Customs, Bashir Adewale Adeniyi, revealed on Wednesday in Lagos during the AEO Pre-launch Stakeholder Engagement and Sensitization on Post Clearance Audit and Advance Ruling, that the official launch of the AEO program will take place on February 14th, 2025.
The Customs CG, represented by Kingsley Egwuh, assistant comptroller general of Customs, Trade, and Tariff, stated that the AEO initiative was an important part of the Service’s modernization efforts.
“The AEO initiative is an important part of our Service’s modernization efforts, as it aims to align Nigeria with worldwide norms for trade facilitation and supply chain security.
It underlines our commitment to building a seamless and efficient trading environment, supporting a trusted cooperation between Customs and economic operators, Foster an environment of transparency, efficiency and mutual benefits.
“On the 15th of April 2024, we took a bold step by launching the pilot phase of the AEO programme, involving six pilot beneficiaries across diverse sectors including importers, logistics operators and small and medium-sized enterprises (SMEs).
“Their participation in this ground-breaking program demonstrates the inclusivity and broad impact we hope to accomplish. “This pilot provided us with valuable insights into stakeholders’ needs and expectations as we laid the groundwork for the program’s full implementation.”
On September 2, 2024, the Service began administering AEO benefits, and I am glad to report that the results have been remarkable. Over a four-month period, the recipients saved nearly 100 million Naira.
“Truly, this is the ease of doing business in action. Beyond the financial impact, the program has also brought about a notable improvement in efficiency, streamlining processes and ensuring that goods move more swiftly and securely through the supply chain.
“Complementary initiatives such as Advance Ruling and Post-Clearance Audit (PCA) are essential to the success of the AEO programme. These tools are critical in fostering compliance and predictability in the trading environment.”
The Customs boss, however, stated that the service is committed to creating an enabling environment for trade. “NCS Advance Ruling programme was implemented to fulfill legal obligations under Standard 9 of the WCO-RKC 2006 and the WTO-TFA 2017 to provide predictability and transparency for trade while providing a facility for voluntary compliance and securing Government Revenue.
“The implementation of PCA reforms has strengthened our ability to ensure compliance after the release of goods, thereby reducing delays during clearance while maintaining the integrity of Customs operations.
“As we approach the official launch of the AEO programme scheduled for 14 February 2025, today’s stakeholder engagement is a vital platform for sharing our pilot findings, dialogue on these findings and co-create solutions to identified gaps in the programme.
“Your insights and feedback are invaluable as we co-own this project to ensure the program’s effectiveness and sustainability.”