- The Nigeria Customs Service plans to introduce the Authorized Economic Operators Program to combat smuggling and illegal activities in import and export at the ports. This program aims to streamline clearance of goods and eliminate illegal activities.
- The Authorized Economic Operator (AEO) was introduced by the World Customs Organization in 2007 to secure and facilitate global trade.
- AEOs include various parties involved in the international movement of goods.
- The AEO program has proven beneficial for customs administrations and their partners, providing customs-related, business, and global advantages.
- In August 2023, the Nigerian Custom Services launched the AEO compliance platform to resolve risks and facilitate trade.
- The Nigerian Ports Authority and Nigerian Customs Services renewed their agreement to boost exports and trade at the ports.
- The requirements for accreditation will be released for compliant traders and businesses to enjoy the benefits of this innovation.
- The AEO will prioritize compliant traders, increase transport security, improve import turnaround time, enhance trade, increase revenue, and reduce congestion at the ports.
Source Dentons
