Importers Save N100 Million In Four Months Through The AEO Program

The Nigeria Customs Service revealed that the AEO program has saved importers and SMEs N100 million in just four months. Discover the impact and benefits of this modernisation effort set for official launch in 2025.

The Nigeria Customs Service (NCS) has announced that its pilot Authorised Economic Operator (AEO) programme has successfully saved importers, logistics operators, and Small and Medium Enterprises (SMEs) a significant N100 million within just four months.

This disclosure came during the AEO Pre-launch Stakeholder Engagement and Sensitisation event on Post Clearance Audit (PCA) and Advance Ruling, held on Wednesday in Lagos. The Comptroller General of Customs, Bashir Adewale Adeniyi, confirmed that the official launch of the AEO programme is scheduled for February 14, 2025.

Speaking through the Assistant Comptroller General of Customs, Trade and Tariff, Kingsley Egwuh, Adeniyi explained that the AEO initiative is a vital part of the NCS’s modernisation efforts, aimed at aligning Nigeria with global trade standards and enhancing supply chain security. It’s designed to foster a more transparent, efficient, and secure trading environment, promoting trusted partnerships between Customs and economic operators.

The pilot phase, which started on April 15, 2024, involved six beneficiaries from various sectors, including importers, logistics operators, and SMEs. This pilot has not only provided critical insights into stakeholder needs but also contributed to significant financial and operational benefits.

Since the AEO benefits were fully administered on September 2, 2024, participants have saved approximately N100 million. This success underscores the programme’s potential to streamline trade processes, reduce costs, and speed up the movement of goods through the supply chain.

Beyond financial gains, the AEO programme has introduced key improvements in efficiency. The integration of Advance Ruling and Post-Clearance Audit (PCA) mechanisms further supports compliance, ensuring predictability and timely customs procedures, and safeguarding government revenue.

Adeniyi reiterated that the NCS is dedicated to fostering an enabling environment for trade. The Advance Ruling and PCA initiatives are crucial for maintaining transparency and compliance, which are vital for smoother trade operations.

As the programme gears up for its full launch in 2025, the current stakeholder engagement session plays a critical role in sharing findings from the pilot phase. Customs is committed to co-creating solutions with stakeholders to address any gaps and ensure the sustainability and success of the AEO programme.

The feedback gathered will be invaluable in refining the program, ensuring that it meets the needs of all parties involved and further strengthens Nigeria’s position as a key player in global trade.

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