The Nigeria Customs Service, NCS, in collaboration with the Nigerian Energy Support Programme, NESP, has unveiled an Advance Ruling System to boost trade.
Comptroller-General of Customs , Bashir Adewale Adeniyi, in his remarks at the unveiling in Abuja on Thursday described the 'Advance Ruling' as a critical mechanism that allows traders to obtain binding decisions from Customs administrations on the classification, origin and valuation of goods before importation. He emphasised that the launched project will also serve as a tool for reducing compliance costs and fostering a conducive business environment for traders.
' The CGC, who recognised the significance of the project as it aligns with the World Customs Organization and the World Trade Organization , also emphasised its relevance in facilitating both domestic and international trade while also promoting Customs compliance.
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