In a bid to enhance transparency in its auctioning process, the Nigerian Customs Service is set to launch an electronic platform to streamline applications from interested Nigerians.
The announcement came during a press conference on the Service’s 2023 Performance and Forecast for 2024, held in Abuja yesterday, where the Comptroller General of Customs, Adewale Adeniyi, provided insights into the upcoming initiative.
Adeniyi emphasized the strategic design of the electronic auction (e-auction) platform, highlighting its role in bolstering transparency. He stated, “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.”
Looking ahead to the fiscal year 2024, Adeniyi shared that the NCS aims to achieve a revenue target of N5 trillion, aligning with the government’s economic objectives. The Customs boss emphasized that the Commission’s strategic initiatives, coupled with operational reforms, will play a crucial role in reaching this ambitious revenue goal.
Addressing the Customs’s role in facilitating the African Continental Free Trade Area Agreement (AfCFTA), Adeniyi highlighted the importance of the Guided Trade Initiative (GTI), launched on October 7, 2022. With over 30 participating countries, Customs plays a central role in implementing AfCFTA and actively contributing to shaping government trade policy.
“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,” stated Adeniyi.
Focusing on border management challenges and security concerns, Adeniyi emphasized the Customs’s zero-tolerance approach towards smuggling, particularly of petroleum products out of the country. The Service remains resolute in addressing these challenges while maintaining a balance between security and trade facilitation.
Acknowledging the impact of currency exchange variations on trade dynamics and revenue collection, Adeniyi outlined proactive measures. He mentioned the Service’s commitment to regularly updating the exchange rate in line with market conditions, aiming to mitigate potential adverse effects on trade and revenue collection.
