March 4, 2024

Finance Minister, Customs Collaborate To Foster Smooth Trade Facilitation

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Finance Minister, Customs Collaborate To Foster Smooth Trade Facilitation

 

By Ebenezer William

 

Minister of Finance and Coordinating Minister of the Economy, Wale Edun FCS, on Tuesday, 19 December 2023, presided over the inaugural meeting of the Nigeria Customs Service Board at Customs Headquarters in Abuja.

The Minister’s address centred around the commitment to collaborate seamlessly with the Comptroller-General of Customs, Bashir Adewale Adeniyi MFR, in facilitating smoother trade.

As the Board Chairman of NCS, The Minister outlined a three-fold vision to redefine the trajectory of the nation’s economic landscape. The event aimed to shape the future of trade, revenue, and economic vitality in Nigeria.

The Finance Minister articulated his commitment to elevating government revenue, fortifying critical spending in infrastructure and social services, and navigating the intricate realms of macroeconomic reform. He declared, “Today marks a pivotal moment in our pursuit of economic resilience, and we are seeking substantial augmentation of government funds to propel crucial initiatives, ensuring that the wheels of progress turn unhindered.”

According to him, his vision extended beyond mere revenue generation, expressing a commitment to fostering an environment where every citizen experiences the tangible benefits of economic prosperity. He spoke passionately about measures to provide affordable transportation, ensure food security, and alleviate the burdens of everyday life for the Nigerian populace.

“The President will be briefed comprehensively on our vision to lower the cost of living for Nigerians through making rich efforts to facilitate trade and boost our economy. We aim to implement measures that not only ease financial burdens but also elevate the living standards for every citizen,” he asserted.

He envisioned a landscape where trade procedures would undergo a metamorphosis characterized by efficiency, speed, and a commitment to international best practices.

“We are on the verge of transformative change in trade facilitation. Our commitment is unwavering, and we are poised to implement the National Single Window project—a community-driven initiative that promises to revolutionize Customs procedures,” the Minister declared with conviction.

Explaining the significance of the National Single Window project, the Minister highlighted its role in modernization, automating processes, and ensuring electronic transmission of information and data across payment stakeholders. According to the Minister, this initiative is not just a technological upgrade but a strategic move to bolster Customs and revenue, thereby becoming a key contributor to the nation’s economic growth.

The Minister’s visionary address resonated through the corridors of the Nigeria Customs Service, signalling a new dawn for Nigeria, painted with hues of economic prosperity, social upliftment, and a commitment to excellence.

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