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The 4% Customs administrative charge: A key to Nigeria’s economic resilience and growth

By Abayomi Odunowo The recent implementation of a 4% Customs Administrative Charge on the Free On-Board (FOB) value of imports has sparked significant debate, particularly from figures like former Senate President Bukola Saraki, who raises alarms about possible inflation and the burden this places on consumers and businesses. While initial reactions may portray this policy
News

Customs launches Authorised Economic Operators programme to enhance trade efficiency

The Nigeria Customs Service (NCS) has taken a proactive stance by spearheading an Authorised Economic Operators (AEO) programme to enhance the efficiency and predictability of trade facilitation efforts across the nation. The Comptroller-General of Customs, Adewale Adeniyi, emphasised this during a stakeholders’ meeting held in Abuja this week, he noted the pivotal
Headlines

Customs intercepts N5.35bn contraband, N152m from importers in Owerri

By Temitope Adebayo The Nigerian Customs Service (NCS), Federal Operations Unit (FOU), Zone C, Owerri, recovered N5.5billion from smugglers and fraudulent importers from January to December 2023. It was gathered that the unit intercepted contraband from smugglers worth over N5.35 billion and N152 million from importers who made under declaration at the Onne seaport in […]
Business

TRS will end cargo clearance delays, improve port efficiency, others-Customs

By Temitope Adebayo The Comptroller-General, of Nigeria Customs Service (NCS), Adewale Adeniyi, has expressed optimism that the implementation of the Time Realise Study (TRS) will end delays in cargo clearance and achieve a 24-hour port operation. Adeniyi said the TRS is aimed at improving port efficiency and competitiveness by identifying and eliminating obstacles in port
Business

Customs to spend N706.43bn in 2024

By Mathew Brangyet The Nigerian Customs Service has presented N706.43 billion to the Senate Committee on Customs at the National Assembly as its 2024 budget. Comptroller-General of Customs, Bashir Adewale Adeniyi who defended the estimated budget figure at the committee sitting on Tuesday, said attention will be focused on consolidating carried-over projects, increasing