• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, August 14, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

‘Customs Ready To Release Result Of Time Release Study’

by Leadership News and Yusuf Babalola
6 months ago
in Business
Customs
Share on WhatsAppShare on FacebookShare on XTelegram

The comptroller general of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, has disclosed that the service is prepared to release the result of the Time Release Study (TRS) conducted in 2024.

Advertisement

LEADERSHIP reports that the service had in February 2024 launched TRS, a globally acknowledged tool devised by the World Customs Organisation to facilitate and streamline the clearance process of goods from arrival until their physical release.

However, speaking on the sidelines of his award as Iconic Maritime Personality of the Year 2024, organized by the Nigerian Maritime Journalists (NMJ), Adeniyi said the result of TRS will point to areas that cause delays in the cargo clearance process.

According to Adeniyi, the TRS will also suggest likely solutions as well as whether the service will approach the National Assembly for the amendment of its act to achieve a reduction in cargo clearance time.

“Advanced Ruling has started and we hope that it will take its root in the year.  We’re going to release the result of the time release study that we conducted in 2024, and that study will show us what are areas where we have delays in the clearance process and what are the likely solutions. Is it a kind of a process of recalibration?  Is it something that we have to go to the National Assembly to amend our laws? Is it something that we’re just going to bring out circulars for implementations amongst various agencies?

RELATED

Nigeria’s Economy Stable, Now Needs Growth — Okonjo-Iweala

Nigeria’s Economy Stable, Now Needs Growth — Okonjo-Iweala

3 hours ago
JUST-IN: Federal Gov’t Asks Ibom Air To Withdraw Criminal Charges Against Comfort Emmanson

Ibom Air Saga: Airline Operators Remove Comfort Emmanson From No-Fly List

4 hours ago

“Is it something that we bring other agencies of government together?  For example, if Single Window starts in 2025, we hope that we’re going to bridge several gaps in the clearance process.  So, I’m so optimistic that in 2025, we’ll take the challenges as they come,” Adeniyi stated.

The Customs boss also stated that consultation has started with stakeholders on the implementation of the 4 per cent Free on-board (FoB) fee.

“The statement that we issued was very clear on that. The four per cent FOB is not a new pronouncement. It’s not a new law issued by the Nigeria Customs Service, it’s a provision of an act which has been in existence since 2023. And we were under a regime of service provisions offered by a service provider as of 2023. By 2024, we were exiting that contractual arrangement and we felt that that would be a time for us to begin the implementation of the four per cent FOB.  It’s not a new levy.

“You know, the cost of collection as a funding system has been with us for over a decade. Seven per cent cost of collection to fund Nigeria Customs. It’s not a new thing, but the 2023 Act now says it will be four per cent of FOB.

That is what we were implementing. Of course, we also believe that it will require more stakeholder consultation. We have started, and the minister is leading the charge, to ensure that we get all our stakeholders on board. And to address the remaining issues left by the service providers.”

 

“All the obligations arising from that contract have been met. So, we’re starting on a clean slate. We’ve come up with a new legacy program in Bodogu for a clearance system in our ports. So, it’s more or less a clean slate. So, all the stakeholders that are involved are going to be consulted.  We are going to have this discussion with them.

 

“It’s not going to be a new law because there is a law already in place.  The law charges us to implement modernization programs; the law charges us to do single windows, It charges us to do AEO and all of that. The law knows that this is going to be implemented through a sustainable funding system, which was absent in the seven per cent cost of collection, and this is why the new law is bringing it. So, we will do our consultations and we will begin implementation.”

 

“If you say the law, then it means that the law has to be amended. So, if the law says four per cent and you want us to implement something different, then that section of the law would have to undergo an amendment,” he stated.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Nigeria Customs Service (NCS)
SendShareTweetShare
Previous Post

Haldane McCall Grows Pre-tax Profit By 168% To N1bn

Next Post

Nigerian Caterers Embrace Tech To Compete In $60bn Culinary Industry

Leadership News and Yusuf Babalola

Leadership News and Yusuf Babalola

You May Like

Nigeria’s Economy Stable, Now Needs Growth — Okonjo-Iweala
Business

Nigeria’s Economy Stable, Now Needs Growth — Okonjo-Iweala

2025/08/14
JUST-IN: Federal Gov’t Asks Ibom Air To Withdraw Criminal Charges Against Comfort Emmanson
Business

Ibom Air Saga: Airline Operators Remove Comfort Emmanson From No-Fly List

2025/08/14
Customs
Business

Federal Gov’t Mulls Pay-As-You-Go For Electricity Sector

2025/08/14
Firm Expands West African Presence, Launches in Nigeria
Business

Firm Expands West African Presence, Launches in Nigeria

2025/08/14
Stransact Partners NRS To Enlighten Businesses About New Tax Law
Business

Stransact Partners NRS To Enlighten Businesses About New Tax Law

2025/08/14
Firm Cautions BPP On Training, Issuing Practice  Licenses
Business

Firm Cautions BPP On Training, Issuing Practice Licenses

2025/08/14
Leadership Conference advertisement

LATEST

PICTORIAL: 25 Family Members Of ISWAP Fighters Surrender In Borno

National Assembly Members ‘Receive Money’ To Sponsor Motions, Bills, Petitions

Troops Arrest 107 Suspects, Rescue 20 Victims In 1 Week — DHQ

Anambra By-election: INEC Distributes Sensitive, Non-sensitive Election Materials

Police Arrest Suspected Kidnapper, Rescue 2-yr-old Victim In Yobe

FCTA Demolishes Criminals’ Hideouts In Abuja

FCTA Receives Hybrid CNG Buses From PCNG-i To Boost Public Transport

New Fire Service CG Assumes Duty, Vows Not To Let Nigerians Down

Gov Nwifuru Pays N101.8m To Support Victims Of Herdsmen Attack

Nigeria’s Economy Stable, Now Needs Growth — Okonjo-Iweala

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.