Nigeria Customs and Afreximbank Partner to Boost Trade

The Nigeria Customs Service and the African Export-Import Bank (Afreximbank) have established a new partnership aimed at unlocking Africa's $3.4 trillion market by enhancing intra-African trade. The collaboration was announced during a meeting in Abuja, where Nigeria Customs Service Comptroller General Adewale Adeniyi and Afreximbank's Chairman Dr.

George Elombi reaffirmed their commitment to dismantling barriers to trade and implementing the African Continental Free Trade Area (AfCFTA). The partnership focuses on harmonizing customs procedures, strengthening regional transit systems, and developing mechanisms for easier cross-border trade.

Adeniyi emphasized that the partnership is based on the belief that Africa's prosperity relies on internal trade rather than external markets. The initiative includes the establishment of one-stop border posts to reduce delays and lower trade movement costs, ultimately enhancing the competitiveness of African economies.

The collaboration is expected to yield tangible gains and improve coordination among customs administrations across the continent.