The Nigeria Customs Service (NCS) has officially launched the Authorized Economic Operator (AEO) programme, a strategic initiative aimed at enhancing trade facilitation, improving supply chain security, and boosting national economic growth. The event, held at the Lagos Continental Hotel, was attended by key government officials, industry stakeholders, and international partners.
In his keynote address, the Comptroller General of Customs emphasized that the AEO programme represents a shift from traditional transaction-based controls to a comprehensive compliance management system, fostering mutual trust between Customs and businesses. He highlighted that the initiative aligns with global best practices and was benchmarked against the UK’s HM Revenue & Customs (HMRC) and the South African Revenue Service (SARS).
“The success of our pilot phase, which began in April 2024, has been remarkable,” the Customs CG stated. “Trade value among our six pilot AEO companies surged from NGN 185.8 billion in 2023 to NGN 563.8 billion in 2024, while customs revenue from these companies increased from NGN 18.4 billion to NGN 51.1 billion within the same period.”
A major highlight of the pilot phase was the reduction in cargo clearance time from 168 hours to an average of 43 hour surpassing the initial 48-hour target and representing a 66.9% improvement over pre-AEO clearance times. The programme has also led to significant cost savings, with participating businesses reducing operational expenses by over NGN 100 million per quarter.
The initiative is expected to play a crucial role in advancing President Bola Ahmed Tinubu’s economic agenda, particularly in achieving a $1 trillion economy by 2030. “Through the AEO programme, we are not just facilitating trade; we are positioning Nigeria as a reliable, predictable, and competitive trading partner on the global stage,” the CG added.
Stakeholders, including the Nigerian Ports Authority (NPA) and the Ministry of Marine and Blue Economy, pledged their support for the programme, which is set to expand as the AEO certification portal opens for new applicants on February 17, 2025.
The launch event also recognized the contributions of international partners, including the World Customs Organization (WCO) and the World Bank, whose support has been instrumental in implementing the AEO framework.
With its full-scale rollout, the Nigeria Customs Service aimed to attract more businesses into the AEO scheme, fostering a trade environment characterized by transparency, efficiency, and economic prosperity.
