Customs introduces a tool to reduce delays in goods clearance and lower compliance costs for traders

Comptroller-General of Customs (CGC), Mr. Bashir Adeniyi, launched the Advance Ruling trading tool to cut compliance costs and create a business-friendly environment for traders. The scheme aims to provide stakeholders with transparent decisions on the classification, origin, and valuation of goods before importation, reducing uncertainties and costs.

Speaking about it, Adeniyi emphasised the tool’s alignment with the World Customs Organization (WCO) and the World Trade Organization (WTO), noting its role in facilitating domestic and international trade while promoting Customs compliance. He highlighted the importance of capacity building for officers and stakeholders to effectively utilise the new mechanism and thanked partners like the German International Cooperation Agency (GIZ) for their support in achieving this milestone in trade facilitation under the Nigeria Energy Support Programme.