Adewale Adeniyi Transforming Nigeria Customs Service For Greater Efficiency

Adewale Adeniyi Transforming Nigeria customs service for Greater Efficiency. The appointment of Adewale Adeniyi as the 31st Comptroller General of the Nigeria Customs Service (NCS) has ushered in a wave of transformative reforms, enhancing efficiency and service delivery within the agency.

Modernizing the Customs Service

Under Adeniyi’s leadership, the NCS has implemented innovative strategies that have not only streamlined trade facilitation but also significantly boosted revenue generation.

These reforms have reinforced the service’s role as a critical player in economic growth, international trade, and border security.

Legislative Overhaul: A New Legal Framework

One of the major milestones achieved during Adeniyi’s tenure is the Nigeria Customs Act 2023, signed into law on April 20, 2023. This law replaces outdated customs regulations, ensuring a modernized, autonomous, and internationally compliant customs administration under the supervision of the Minister of Finance.

Strategic Reforms for Efficiency

Adeniyi introduced several key reforms aimed at improving trade processes and customs operations:

Time Release Study (TRS): This tool, developed by the World Customs Organization (WCO), helps identify delays in the clearance of goods, allowing for more efficient trade processing.

Authorized Economic Operator (AEO) Program: Recognizing compliant businesses in international trade, this initiative strengthens the supply chain and improves security.

Adewale Adeniyi

Customs Trade Modernization Project (TMP): Launched in 2022, this project is expected to generate $250 billion in revenue and create employment opportunities as the NCS expands its workforce.

Boosting Revenue and Trade Facilitation

Adeniyi’s reforms have led to record-breaking revenue collection, with the NCS generating over N5 trillion in 2024 and setting an ambitious target of N6 trillion for 2025.

Through strategic stakeholder engagement, legal modernization, and cutting-edge trade facilitation measures, the Nigeria Customs Service is now better positioned to drive economic growth, enhance security, and improve global trade efficiency.

Oil Prices Hits $70/b As Nigeria’s Output Surpasses OPEC+ Quota For February

Oil Prices Hits $70/b as Nigeria’s output surpasses OPEC+ quota for February. Oil price steadied after the Organization of the Production Export Countries released its monthly report, with Brent crude maintaining its earlier gains, trading above $70 a barrel on Thursday.

OPEC said on Wednesday that Kazakhstan led a sizeable jump in February crude output by the wider OPEC+, highlighting a challenge for the producer group in enforcing adherence to agreed output targets.

In its monthly report for March 2025, OPEC+, which includes OPEC plus Russia and other allies, in February raised output by 363,000 barrels per day to 41.01 million bpd, led by Kazakhstan.

The hike is more than twice as much as a scheduled 138,000 bpd rise in OPEC+ output starting in April as the group phases out its most recent layer of output cuts.

The plan for higher output, as well as concern about trade tariffs, have put downward pressure on oil prices. Kazakhstan, the world’s largest landlocked country, has been producing at a record high, and well above its OPEC+ quota, as U.S. oil major Chevron.

Oil Prices

According to the OPEC data, which it compiles from secondary sources, Kazakhstan produced 1.767 million bpd of crude in February, up from 1.570 million bpd in January. Kazakhstan’s OPEC+ quota is 1.468 million bpd.

The OPEC data also showed some other OPEC+ nations such as the United Arab Emirates, Nigeria and Gabon pumping above their quotas, but by far smaller amounts.

Governor Abiodun Welcomes League of Imams, Alfas for Special Ramadan Iftar

Governor Abiodun welcomes league of Imams, Alfas for special Ramadan Iftar. Governor Dapo Abiodun of Ogun State hosted the League of Imams and Alfas for a special Iftar, fostering unity and religious harmony during the holy month of Ramadan.

The gathering highlighted the essence of Ramadan as a time of devotion, self-discipline, and virtues like patience and charity. Governor Abiodun emphasized the need for self-restraint and compassion towards the less privileged, in line with Islamic teachings.

Governor Abiodun

He prayed for Allah (SWT) to accept the fasting and prayers of all Muslims, grant them strength, and bless Ogun State with peace and prosperity.