Customs News

Customs backs Nigeria’s $1trn economy target

By Oluwabunmi Ogunjimi

Nigeria’s maritime gateways will be critical to the country’s ambition of building a $1 trillion economy, with the Nigeria Customs Service (NCS) stepping up reforms to make ports more efficient, predictable and business-friendly.
Comptroller-General of Customs, Adewale Adeniyi, said the Service was committed to supporting the target by transforming its role at the nation’s borders and ports beyond revenue collection to facilitating economic growth.
Delivering his Adeniyi  keynote address at the New Nigeria Festival at the Shehu Musa Yar’Adua Conference Hall, Abuja.Adeniyi said that the $1 trillion target was achievable if the policies and strategies designed to attain it were effectively implemented, stressing that national aspirations must translate into concrete and measurable results.
ThevCustoms boss said the NCS had moved from policy discussions to practical action, citing the deployment of B’Odogwu, the Authorised Economic Operator (AEO) programme and the Advance Ruling mechanism as key reforms aimed at reducing bottlenecks, improving predictability for businesses and strengthening revenue generation.
According to him, the reforms would help create a more efficient operating environment while positioning Nigeria’s ports and borders to support greater economic activity and regional competitiveness.
“Execution is nothing if it is not concrete. We have to move from ideas to action and ensure that whatever we plan translates into results. That is how we can begin to see the kind of transformation we are talking about.” He said.
Adeniyi stressed that the responsibility for achieving the $1 trillion economy could not rest solely on government agencies, noting that the target required the collective commitment of institutions, businesses and citizens.
He said the Customs Service, by virtue of its responsibilities in revenue collection, trade facilitation and border management, remained strategically positioned to contribute to the country’s economic transformation.
Adeniyi therefore called for a shift from rhetoric to implementation, stressing that the country’s economic ambition could be achieved only when institutions and citizens alike took ownership of their responsibilities and turned plans into practical, measurable action.

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