The Nigerian Customs Service (NCS) has hinted of its plans to launch an electronic platform to streamline applications from importers, exporters and other stakeholders in the economy as part of its current moves to enhance transparency in its auctioning process.
The Comptroller-General of NCS, Mr. Adewale Adeniyi, made this disclosure during a press conference on the Service’s 2023 Performance and Forecast for 2024, held in Abuja.
Adeniyi emphasized the strategic design of the electronic auction (e-auction) platform, highlighting its role in bolstering transparency in the Service’s operations.
He said: “In the upcoming week, the NCS is set to inaugurate an electronic auction (e-auction) platform, strategically designed to enhance transparency in the auction process. These collective actions signify NCS’s dedication to enhancing staff welfare and sustaining optimal performance.”
On the Service’s plans for fiscal year 2024, Adeniyi explained that the revenue agency aimed to achieve a revenue target of N5 trillion based on operational reforms and strategies in line with the government’s economic objectives.
According to him, the NCS’s role in facilitating the African Continental Free Trade Area (AfCFTA) pact, will be guided by the Guided Trade Initiative (GTI), launched on October 7, 2022.
He expatiated: “As the driving force behind AfCFTA execution, Customs holds a central position in shaping government trade policy. The NCS is resolutely committed to actively contributing and playing a pivotal role in aligning its operations with the dynamic facets of AfCFTA.”
Speaking further on border management challenges and security concerns, the Comptroller-General maintained that the Customs’ zero-tolerance approach towards smuggling, particularly of petroleum products out of the country would be vigorously sustained as the Service remained resolute in addressing the challenges while maintaining a balance between security and trade facilitation.
While noting the impact of currency exchange variations on trade dynamics and revenue collection, the NCS’ boss outlined key proactive measures that would be adopted to regularly update the exchange rate in line with market conditions in order to mitigate the potential negative impacts on Nigeria’s trade and revenue collection in the fiscal year.
