The Comptroller General of Nigeria Customs Service (NCS) Bashir Adewale Adeniyi has launched the Service into the commitment of Time Release Study (TRS ) that is in accordance with the World Customs Organization (WCO) as an assisted scoping Mission for Nigeria .
NCS affirmed its commitment to the TRS in order to facilitate trade among the numerous opportunities abreast with the study on the 8th of February 2024 at Marriott Hotel at Ikeja in Lagos.
The event had in attendance the Minister of Industry, Trade, and Investment, Mrs. Doris Uzoka-Anite, Minister of Finance, Wale Edun, represented by the Permanent Secretary, Ministry of Finance, Lydia Jafiya, Minister of Marine and Blue Economy, Adegboyega Oyetola represented by the Executive Secretary, Nigerian Shippers’ Council, Barrister Pius Akutah, DG NIMASA, Dr. Bashir Jamoh, Captains of Industries, among other Stakeholders.
In his remarks, the CG of Customs Adewale Adeniyi stated that the TRS method is a systematic and standardized approach used to measure the total duration of time from the arrival of goods at the Customs border until their release.
He said, “The initiative represents a critical step in our ongoing efforts to optimize the trading experience and customs operations in Nigeria. It is a strategic endeavor aimed at improving how we facilitate trade, ensuring alignment with international best practices, and contributing substantially to national development”.
The CGC was emphatic when he restated that NCS’s commitment to enhancing trade efficiency and promoting economic growth and national development.
His words, “The launch of the TRS in Lagos today underscores our commitment to improving customs operations and trade facilitation in Nigeria. In addition to TRS, the NCS is deploying the AEO program, Advanced Ruling, and establishing a Customs Laboratory as part of its ongoing efforts to facilitate trade and improve government revenue”.
“These initiatives are supported by the WCO, further emphasizing our dedication to enhancing trade efficiency and promoting economic growth and national development through collaboration, innovation, and strategic measures.” He emphasized.
Launching the TRS, the Minister of Finance, Mr. Wale Edun, represented by the permanent secretary, Lydia Jafiya, noted that the TRS falls aligns with the Federal Government’s renewed hope agenda, “which demonstrates the president’s commitment to unleashing full economic potential to and among other states. Redefining best approaches to create the enabling environment for businesses in addition to providing excellent services for economic operations”.
On her part, the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, opined that trade facilitation will enhance trade volume and lead to revenue generation.
“I implore you to redouble your efforts in focusing on trade facilitation. This is because when you facilitate trade, you’re enhancing our trade volume and making our nation more competitive, and then we can generate more revenue without increasing our levies”. She said.
