” Advanced Ruling’ is a critical mechanism that allows traders to obtain binding decisions from Customs administrations on the classification, origin, and valuation of goods before importation.”
The Comptroller-General of Nigeria Customs Service, Bashir Adewale Adeniyi, gave this insight during the launch of the project, on Thursday, in Abuja.
CGC Adeniyi emphasised that the project will also serve as a tool for reducing compliance costs and fostering a conducive business environment for traders.
” We shall be taking the first step towards launching the Nigeria Customs Service Advance Ruling, starting with stakeholder engagement.
The project aligns with the World Customs Organization (WCO) and the World Trade Organization (WTO), and aimed facilitating both domestic and international trade while also promoting Customs compliance.
“According to the WCO and the WTO, Advanced Ruling enhances predictability and transparency in customs procedures, streamlining trade processes and minimising delays, uncertainties, and costs associated with Customs clearance,” CGC Adeniyi added.
He commended President Bola Ahmed Tinubu for having laid the ground to enhance the economy of Nigeria and supporting the Service.
CGC Adeniyi emphasised that the launch of Advanced Ruling at this time aligns with the policy directive of President Tinubu’s administration to facilitate trade for legitimate traders.
“This is reflected in the Policy Advisory Document of the government, which signifies recent achievements, such as the approval to decongest the ports and make them free and accessible for importers and operators.”
He revealed that the Service has made all arrangements to conduct workshops and sensitisation sessions at Customs Area Commands to ensure that all stakeholders are well-informed and prepared to utilise this new mechanism effectively.
He, however, applauded the German International Cooperation Agency (GIZ) and other partners for their unwavering partnership and continued support of achieving a significant milestone in trade facilitation activities under the Nigeria Energy Support Programme.
“It is essential to acknowledge that initiatives like Advanced Ruling necessitate investments in capacity building for both officers and stakeholders. We are committed to leveraging our internal capacity while exploring collaboration opportunities with external partners like GIZ,” he said.