Operating costs slash in half as duty remittances rise
Companies certified under the Nigeria Customs Service’s Authorised Economic Operator (AEO) Programme are now clearing cargo in an average of 41 hours, down from 168 hours before certification, the Service reported.
The uptime, as contained in the NCS’ AEO Monitoring and Evaluation Report, it said, is part of the benefits accrued to companies that meet the programme’s strict compliance and transparency requirements.
The AEO programme, launched from February 2025 to January 2026 to replace the defunct Fast-Track Scheme, rewards compliant traders with faster clearance, reduced inspections, pre-arrival processing, and other facilitation benefits designed to ease the burden of cross-border trade.
BusinessDay reported that out of 584 applications submitted before the January 31, 2026, deadline, only 154 firms have yet cleared the Customs validation stage, and only 51 firms had received full certification in addition to 46 on probation.
Also read: Only 51 firms get Customs AEO certification as applications see 26% success rate
The NCS said overall trade efficiency among the 51 certified companies improved by 77.11 percent through “digitalisation, simplified procedures and targeted risk management.” Company operating costs declined by 57.2 percent, while demurrage payments fees charged for delays in clearing goods dropped by 90 percent, limiting capital flight to foreign-owned port service providers.
The programme also contributed N1.585 trillion in revenue, up from N1.222 trillion before certification, and accounted for 21.77 percent of the NCS’s total revenue collection of N7.28 trillion in 2025.
Customs duties paid by AEO-certified companies also rose by 85.66 percent, which the NCS attributed to enhanced compliance and increased volumes of legitimate trade.
The Service commended some companies including Coleman Technical Industries Limited, WACOT Rice Limited, ROMSON Oil Field Services Ltd, WACOT Limited, Chi Farms Ltd, CORMART Nigeria Ltd, PZ Cussons Nigeria Plc, Nigerian Bottling Company Limited and MTN Nigeria Communications Plc for a cumulative voluntary remittance of over one billion naira into the Federation Account after internal reviews.
“These actions reflect the strengthening of post-clearance audit mechanisms and a growing culture of voluntary compliance within the trading community,” Customs said.
After identifying a “compliance breach,” the NCS, on the directive of the comptroller-general, suspended one fully certified operator over false declaration, cutting the already small number of operators to 50.
Also read: Customs suspends AEO-certified firm over false declaration
“While compliant operators will continue to benefit from expedited clearance and reduced inspection, appropriate sanctions will be applied where violations are established,” it said.
Operators that lose their AEO status revert to standard Customs processing and forfeit all facilitation benefits. Meanwhile, other certified companies can retain their status, with renewals required every three to five years, depending on the certification category.
