The Nigeria Customs Service, NCS, in collaboration with the Nigerian Energy Support Programme, NESP, has unveiled an Advance Ruling System to boost trade.
Comptroller-General of Customs, Bashir Adewale Adeniyi, in his remarks at the unveiling on Abuja on Thursday described the ‘Advance Ruling’ as a critical mechanism that allows traders to obtain binding decisions from Customs administrations on the classification, origin and valuation of goods before importation.
He emphasised that the launched project will also serve as a tool for reducing compliance costs and fostering a conducive business environment for traders.
He 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 WCO and the WTO, Advanced Ruling enhances predictability and transparency in customs procedures, streamlining trade processes and minimising delays, uncertainties, and costs associated with Customs clearance.
“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.”
“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,” he stated.
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