Double your efforts on trade facilitation, revenue generation, minister tells customs

Doris Uzoka-Anite, the minster of industry, trade, and investment, has asked the Nigerian Customs Service (NCS) to double its efforts on trade facilitation.

Uzoka-Anite gave the charge at the launch of the agency’s ‘Time Release Study’, on Thursday in Lagos.

Launched by customs in collaboration with the World Trade Organization (WTO), the report aims at increasing efficiency in Nigerian ports.

The minister’s directive comes amid President Bola Tinubu’s plans to increase Nigeria’s economy to $1 trillion by 2026, and reduce borrowing.

The vision, heavily dependent on the country’s revenue-generation capabilities, led to the establishment of the presidential committee on fiscal policy and tax reforms.

The committee is responsible for various aspects of tax law reforms, fiscal policy design and coordination, harmonisation of taxes, and revenue administration.

Speaking at the event, Uzoma-Anite said focusing on trade facilitation would also lead to revenue generation for Nigeria.

She said the customs is the only agency in Nigeria saddled with three critical functions: security, revenue generation, and trade facilitation.

“However as your trade minister, I implore you to double or redouble your efforts in focusing on just trade facilitation,” she said.

“This is because when you facilitate trade, you’re enhancing our trade volume, or you’re making our nation more competitive and then we can generate more revenue without increasing our levies.”

The minister also admonished the agency to fully automate its processes to avoid work hazards that come with border operations.