• Tue. Jul 16th, 2024

Nigeria Customs Launches Time Release Study To Accelerate Trade Facilitation

The Nigeria Customs Service (NCS) has launched the introduction of the Time Release Study (TRS) tool, a significant step towards enhancing trade efficiency.

The launch event which held on Thursday saw the presence of key stakeholders, including the Minister of Industry, Trade, and Investments, a representative of the Minister for Marine and Blue Economy, and a representative of the Minister for Finance. Comptroller General of Customs (CGC) Adewale Adeniyi, the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), representatives of the World Customs Organisation (WCO), and other notable personalities were also in attendance.

Assistant Comptroller General of Customs, Alfa AI, opened the event with an address, highlighting the TRS as a standard tool for measuring the time taken to release cargo. A video message from WCO Secretary-General Ian Saunders commended the Nigeria Customs Service’s efforts in aligning with WCO principles.

CGC Adewale Adeniyi emphasized the commitment of the NCS to efficiency and praised the WCO for advancing customs procedures through initiatives like the TRS. The TRS, initiated by the WCO in 2006, has become a global standard to enhance trade facilitation by reducing cargo dwell time.

NIMASA DG acknowledged the NCS’s efforts to change the narrative in Nigeria and Africa through initiatives like the TRS. Ministers from Industry, Trade, and Investments, Marine and Blue Economy, and Finance, represented by Mrs. Lydia Jafiar, applauded the launch, emphasizing its alignment with the Federal Government’s renewed hope agenda and facilitation of international trade.

WCO representative, Mr. Stephen Muller, assured continued support for the Nigeria Customs Service, pledging assistance in building the necessary capacity for successful TRS implementation.

Hyacinth Beluchukwu Nwafor

Hyacinth Beluchukwu Nwafor is a seasoned journalist and the CEO/Founder Belch Digital Communications, publishers of Hybrid News Nigeria.

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