The Nigeria Customs Service (NCS), over the weekend in Lagos launched the Authorised Economic Operator (AEO) programme, a stride toward read more What Customs Authorised Economic Operator programme means for Nigeria
The Nigeria Customs Service (NCS) launched the Authorised Economic Operator (AEO) programme, a global trade initiative aimed at modernising trade processes and aligning with international standards. The AEO programme certifies companies involved in cross-border trade as trusted economic operators, based on their adherence to supply chain security standards set by the World Customs Organisation (WCO). During the pilot phase in August 2023, six companies achieved AEO certification, resulting in a 66.9% reduction in cargo clearance time (from 168 hours to 43 hours) and a significant increase in customs revenue (from N18.4 billion to N51.1 billion). The programme enhances trade efficiency, supports economic growth, and improves Nigeria’s global trade competitiveness. It also addresses security concerns and aims to expand to more industries, including SMEs, while fostering partnerships with international customs authorities to facilitate seamless trade.
