President Tinubu Lauds Customs Role in Nigeria’s Economic Transformation

Nigeria’s President, Bola Ahmed Tinubu, has praised the Nigeria Customs Service (NCS) for its transformative role in supporting Nigeria’s economic aspirations and contributing to increased revenue generation.

The President made this remark earlier today in his keynote speech at the opening ceremony of the 2024 Comptroller-General of Customs Conference at Transcorp Hilton Hotel in Abuja, underlining the government’s commitment to economic reform, trade facilitation, and the development of strategic partnerships to drive Nigeria’s growth.

President Tinubu highlighted the administration’s steadfast dedication to its reform agenda, which has shaped Nigeria’s economic policies since he took office sixteen months ago.

“Our vision remains clear and unwavering – to strengthen Nigeria’s economic base and deliver growth and development for the benefit of all Nigerians,” he stated.

Key initiatives, including the removal of the fuel subsidy and unification of the exchange rate, were crucial moves, he added, to create a “more transparent and sustainable economic framework.”

The President also emphasised that these bold reforms have begun yielding results, citing a surge in foreign direct investment (FDI) which surpassed $30 billion over the past year.

He attributed this success to Nigeria’s improved business environment, which has attracted both domestic and international investors and enabled Nigerian businesses to participate more actively in global trade.

Tinubu acknowledged the pivotal role of national institutions, particularly the Nigeria Customs Service, in aligning with the administration’s economic goals.

“Our vision required government agencies to be proactive in aligning their statutory responsibilities with the broader national economic objectives,” he said.

The NCS has shown exemplary commitment, he noted, by implementing significant reforms such as the Advanced Ruling system and the Authorised Economic Operator (AEO) Program – initiatives that not only align with international standards but also foster a more predictable business environment.

The President lauded the NCS for its contributions to revenue generation and its efforts to boost Nigeria’s global ranking in ease of doing business.

The Service’s advancements in border security and anti-smuggling operations, he observed, reflect a successful balance between trade facilitation and regulatory compliance.

These achievements reinforce the administration’s belief that “public institutions, when properly aligned with national objectives, can effectively drive transformative change.”

With the conference theme, “NCS Engaging Traditional and New Partners with Purpose,” President Tinubu encouraged participants to pursue innovative approaches to strengthen Nigeria’s role within the African Continental Free Trade Area (AfCFTA) and the larger global economy.

He stressed the need for collaboration in addressing trade challenges and urged the NCS to build on the progress made while remaining responsive to Nigeria’s evolving trade landscape.

“Our administration remains committed to supporting the NCS in its modernisation and reform initiatives, including technology, infrastructure, and capacity-building programmes that align with global best practices,” he assured.

Addressing international partners at the conference, President Tinubu affirmed Nigeria’s determination to integrate more deeply into global value chains, solidify its position as a reliable trading partner, and leverage regional and continental market opportunities.

“Our commitment to sustainable economic reforms, trade facilitation, and creating an enabling business environment is firm and irreversible,” he declared.

The President urged the NCS and other participants at the conference to leverage their expertise to shape a forward-looking trade agenda for Nigeria.

“Your deliberations over the next few days should not only address current challenges but also anticipate future developments in global trade,” he said, expressing hope for recommendations that will bolster Nigeria’s trade facilitation efforts and ensure robust border administration.