Nigeria Customs launches FT 2.0 for compliant importers to reduce cost associated with cargo handling and demurrage

The Nigeria Customs Service (NCS), on Monday, launched a trade facilitation tool called Fast Track 2.0 (FT 2.0) to enable compliant importers and agents to clear their cargoes within 24 hours.

The Comptroller General of Customs, Hameed Ali, while launching the platform designed to enable Nigeria to attain global competitiveness described it as a reward for compliant shippers who would enjoy the fast track from the seaport to their warehouses under strict monitoring.

He said the fast track would not circumvent due process, especially the scanning of containers at the port, adding that anyone caught in any form of breaches would be severely sanctioned.

Ali noted that the new product that was designed in collaboration with the World Bank would boost trade facilitation, revenue generation, and security.

He said, “FT 2.0 was designed to admit traders irrespective of the nature of their trade on the basis of compliance alone. Its potential for encouraging traders to play by the rules is significant as it promises huge rewards, especially in the areas of drastic cost reductions associated with cargo handling and demurrage at the ports.

“FT 2.0 is a precursor to the introduction of the Authorised Economic Operator (AEO) Scheme which guarantees even more benefits for compliant traders.

“Over a period of six months, the Service carried out sensitisation programs in Lagos, Port Harcourt, and Kano with a view to informing the trading public about this latest version of FT 2.0, and the roles and responsibilities expected of all parties in the clearance chain.

“The feedback gotten during this sensitisation, informed the design of a robust automated system with inbuilt filters capable of accessing our historical data and excluding traders who have displayed an unwillingness to operate according to set down rules.”

Minister of Industry, Trade, and Investment, Otunba Niyi Adebayo who was at the event described the initiative as remarkable. He said the fast track looks more toward trade facilitation and ultimately higher revenue.

“It’ll help speed up clearance of goods for import and export. It is consistent with the objective of ease of doing business,” the Minister said.