President Bola Ahmed Tinubu recently delivered the keynote address at the opening ceremony of the 2024 Comptroller-General of Customs Conference held at the Transcorp Hilton Hotel, Abuja. The conference, a significant event in Nigeria’s trade and customs landscape, focused on the theme “NCS Engaging Traditional and New Partners with Purpose.”
President Tinubu highlighted his administration’s commitment to economic reform since taking office sixteen months ago, emphasizing a vision centered on strengthening Nigeria’s economic base. “Our focus has been on strengthening what works, refining what needs improvement, and introducing new initiatives where gaps exist,” he stated. Tinubu pointed to key policies, such as the removal of the fuel subsidy and the unification of the exchange rate, as measures necessary to build a more sustainable economic framework.
According to Tinubu, these initiatives are already yielding positive outcomes, citing an increase in foreign direct investment (FDI) which has exceeded $30 billion over the past year. “The confidence in our economy is reflected in this significant surge in FDI,” he noted, adding that these improvements have opened doors for Nigerian businesses to engage more actively in global trade.
The President commended the Nigeria Customs Service (NCS) for aligning its objectives with the national economic agenda, particularly through modernization efforts like the Advanced Ruling system and the Authorized Economic Operator Program. These reforms, Tinubu asserted, “enhance trade facilitation and create a more predictable business environment.”
As a result of these reforms, the Customs Service has shown substantial growth in revenue generation, contributing significantly to funding national development projects. Tinubu praised the NCS’s efforts in strengthening Nigeria’s reputation as a trade-friendly nation, with achievements in port efficiency and anti-smuggling operations. “The Nigeria Customs Service has demonstrated that effective trade facilitation can coexist with strong regulatory compliance,” he said.
Addressing the theme of the conference, President Tinubu encouraged participants to engage in strategic discussions to enhance Nigeria’s regional and continental trade integration, especially within the African Continental Free Trade Area (AfCFTA). He urged the Customs Service to explore partnerships that would bolster trade processes and compliance frameworks.
President Tinubu also reaffirmed his administration’s support for the NCS’s modernization agenda, promising continued investment in technological advancement, infrastructure, and capacity-building programs.
As he declared the conference open, Tinubu encouraged participants to prioritize discussions on Nigeria’s trade future and global position. “The outcomes of this conference should provide a clear roadmap for achieving these objectives in line with our national economic aspirations,” he concluded.
The conference is expected to produce recommendations that will shape Nigeria’s trade facilitation initiatives and further strengthen the country’s role in the international trading system.