The Customs Area Controller, Oyo/Osun Area Command, Comptroller Gambo Iyere Aliyu, has said that Nigeria occupies a strategic position in global trade, being richly endowed with vast natural resources and a growing industrial base, noting that the country’s import and export activities reflect its economic strength and developmental goals.

Comptroller Aliyu said this on Wednesday while delivering a lecture at the Ibadan Chambers of Commerce, Industry, Mines and Agriculture, Oyo State.

The topic of the lecture was “Products That Can Be Imported or Exported from Nigeria: AfCFTA, Rules of Origin and the Drive for Value Addition.”

In the lecture, Comptroller Aliyu highlighted the pivotal role of the Nigeria Customs Service (NCS) as the driver of trade in Nigeria, which is tasked with ensuring diversification, efficiency, and the integrity of the supply chain.

He stated that under the Comptroller-General of Customs, Dr. Bashir Adewale Adeniyi, the Service has embarked on a robust modernisation programme aimed at achieving end-to-end automation of business processes to enhance transparency and competitiveness.

Speaking on Nigeria’s export landscape, the comptroller identified crude oil and natural gas as dominant export commodities but noted that the government’s diversification efforts have led to significant growth in non-oil exports such as cocoa, sesame seeds, cashew nuts, ginger, palm oil, rubber, and hibiscus flowers.

He also mentioned solid minerals like limestone, lead, zinc and tin, as well as processed foods, textiles, and leather products, as promising export commodities.

He cautioned that not all products are eligible for export, citing Schedule 6 of the Common External Tariff (CET), which prohibits the export of items such as maize, unprocessed rubber latex, raw hides and skins, rough or sawn timber, scrap metals, artefacts and antiquities, and endangered wildlife species or their products.

On the African Continental Free Trade Area (AfCFTA), Comptroller Aliyu explained that the multilateral agreement aims to create a single market for goods and services across Africa, providing Nigerian exporters access to a market of over 1.3 billion consumers with a combined GDP exceeding $3.4 trillion.

He stressed that only goods that meet the Rules of Origin criteria, which means that they were wholly obtained or substantially transformed in Nigeria, can enjoy AfCFTA benefits.

Comptroller Aliyu reaffirmed the commitment of the Nigeria Customs Service to promoting legitimate trade, protecting the economy, and supporting government policies geared toward sustainable economic growth through value addition, export expansion, and industrial development.

Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).