House assure Nigerians, investors of conducive environment for business

By Christiana Ekpa

The House of Representatives on Wednesday assured Nigerians and the business community of it’s readiness to enhance trade facilitation policies, modernise customs procedures, and foster a conducive environment for economic growth and development.
The Chairman, House Committee on Customs and Excise, Hon. Leke Abejide, gave the assurance during the inaugural meeting of the Standing Committee and reiterated the Committee’s resolve towards ensuring the effective and efficient operation of the Nigeria Customs Service (NCS), a critical institution that safeguards our nation’s borders and generates substantial revenue for our economy.
Hon. Abejide, who scored the 9th Assembly high for the successful repeal of the 63-year-old Customs and Excise Management Act (CEMA), 2004 (CEMA) and re-enactment of the new Nigeria Customs Service Act, 2023, expressed optimism that the legal framework will boost revenue accruing into the Federation Account.
According to him, “This groundbreaking legislation represents a significant milestone in our efforts to streamline customs procedures, enhance trade facilitation, improve revenue generation, and promote economic growth.
“As we embark on this new chapter, I want to assure you that the Committee on Customs and Excise will be steadfast in its pursuit of excellence. We will work tirelessly to enhance trade facilitation policies, modernise customs procedures, and foster a conducive environment for economic growth and development.
“We are fortunate to inherit the legacy of the 9th Assembly. incidentally, of which I was Chairman of the same Committee and the Sponsor of the Bill, which successfully repealed the 63-year-old Customs and Excise Management Act, Cap. C45, Laws of the Federation of Nigeria, 2004 (CEMA) and re-enacted the new Nigeria Customs Service Act 2023. This groundbreaking legislation represents a significant milestone in our efforts to streamline customs procedures, enhance trade facilitation, improve revenue generation, and promote economic growth.
“Under the new Act, the NCS now has access to increased revenue via a new financing model of 4% FOB, thus enabling it to operate more effectively and efficiently. The new Act also introduces a robust e-commerce system, aligning the NCS with global digital trends and promoting rapid revenue generation and ease of doing business.
“Another notable milestone of the Act is the establishment of a clear leadership structure for the Nigeria Customs Service. This is achieved by enabling a career officer, at least at the rank of Assistant Comptroller General, as the Comptroller-General of Customs, to be appointed by the President of Nigeria. This stands in contrast to the previous Act, which lacked clarity on leadership, resulting in such appointments from civilian and military backgrounds in the past.
“The 10th Assembly now has the rigorous task of ensuring that the new Act is implemented effectively and that its full benefits are realised. We will closely monitor the NCS’s performance and provide the necessary support to ensure that it operates by the highest international standards.”