In a bid to continue to generate more revenue for Nigeria while maintaining best practices, the Nigerian Customs launched a trade facilitation platform to improve the quality of services rendered.
The Nigerian Customs Service (NCS) has launched a Time Release Study (TRS) to drive effective cargo clearance and trade facilitation.
Nigeria now joins European countries, the United States of America, and Asia on Time Release Study (TRS) usage.
The TRS methodology, developed by the World Customs Organiszation (WCO), offers a systematic approach to measuring the total duration from goods’ arrival at the Customs border to their release.
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Finance Minister and Coordinating Minister for the economy, Wale Edun, was at the launch of the pilot scheme on Thursday at the Tin-Can Island command of Customs.
Addressing the gathering, Edun said Nigeria had to key into the initiative to avoid being left behind.
The Minister was represented by the permanent secretary, ministry of finance, Lydia Jayifa.
Edun said the platform would create an enabling environment for businesses and provide excellent services for economic cooperation.
Nigerian Customs Launch Time Release Study
“The TRS is a WCO tool used internationally for harmonising the various processes and procedures involved in Customs clearance.
“A conducive port environment is crucial for the facilitation of international trade.
“Efficient Customs processes are paramount for achieving cost-effective goods clearance and assuring efficiency in the system,” he explained.
He said the new platform would create a friendly business environment.
Edun encouraged all the stakeholders in the port to rally around the Customs to ensure the success of the TRS.
Also, the Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, urged the Customs to double its efforts on trade facilitation.
Uzoma-Anite said focusing on trade facilitation would also lead to revenue generation for Nigeria.
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Earlier, Adewale Adeniyi, comptroller general of Customs, said that adopting international best practices would promote trade growth in Nigeria.
Adeniyi said that TRS would provide comprehensive insights into Customs operational efficiency, thus contributing to national development goals.