Trade

By Sabiu Abdullahi

Nigeria and the Benin Republic have reached a significant agreement on a joint trade framework aimed at removing cross-border trade barriers, promoting economic growth, and strengthening ties between both nations.

The agreement was sealed during a high-level meeting held on Saturday, August 2, 2025, at the Ministry of Economy and Finance in Cotonou.

The session brought together top officials, Customs leaders, and trade experts from the two countries, all focused on improving the efficiency of cross-border trade.

Nigeria’s Minister of Industry, Trade, and Investment, Mrs. Jumoke Oduwole, described the new framework as a strategic advancement in West Africa’s quest for regional economic development.

“This agreement signals strong political will from both countries to pursue a progressive and inclusive trade relationship,” she stated.

She recalled the recent meeting between Presidents Bola Ahmed Tinubu and Patrice Talon at the West African Economic Summit, where both leaders signed a preliminary Memorandum of Understanding (MoU) and directed their technical teams to turn political agreements into real progress.

“Our joint commitment is to dismantle barriers, improve logistics, and ensure that trade becomes a tool for job creation and regional prosperity. The Heads of Customs of both nations have demonstrated commendable synergy, which we are expanding through four thematic working groups covering trade facilitation, enforcement, data sharing, and infrastructure,” she added.

Mrs. Oduwole also noted that Nigeria is positioning itself to transition from a regional trading hub to a global player in shaping equitable trade systems.

Comptroller-General of Customs, Adewale Adeniyi, MFR, assured that the Nigeria Customs Service is fully prepared to implement the agreement in line with the country’s trade agenda.

“What we have witnessed today is the culmination of intensive technical meetings between Nigeria and Benin Customs officials over the past 48 hours. We’ve developed a joint framework that reflects our Presidents’ shared vision for economic growth,” he said.

He disclosed that both countries are planning to sign a formal Memorandum of Understanding based on the framework by early 2026.

Addressing the role of Customs in improving trade processes, CGC Adeniyi said measures have been outlined to ensure corridor-based trade solutions, which will promote transit and transshipment activities and reduce the bureaucratic delays affecting small and medium businesses.

“We’re committed to removing trade barriers that hinder local businesses. New trade corridors have been identified, and connectivity between our systems has already been activated,” he added.

He also expressed gratitude to the Director-General of Benin Customs, Mrs. Adidjatou Hassan Zanouvi, for her support, particularly for Benin’s endorsement of Nigeria’s leadership role at the World Customs Organisation (WCO) Council meeting in Kinshasa, Democratic Republic of Congo.

Both delegations later toured the Cotonou Port to review existing operations and identify areas for modernisation. They also visited the Seme-Krake Joint Border Post, demonstrating their commitment to closer coordination and regional integration through joint border management.

This new agreement marks a major milestone in the trade relations between Nigeria and Benin and is expected to promote growth, transparency, and innovation across both economies.

By Sabiu Abdullahi

The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi MFR, in a bid to fortify customs processes and mitigate risks, inaugurated a World Customs Organisation (WCO)-led Post Clearance Audit (PCA) and Authorised Economic Operators (AEO) Diagnostic Mission on Monday, January 29, 2024. 

This is contained in a statement released and made available to journalists Tuesday by the spokesperson of the Nigeria Customs Service, Abdullahi Aliyu Maiwadah.

According to Maiwadah, during a two-week retreat at the Wells Carlton Hotel Conference Room in Abuja, CGC Adeniyi outlined the NCS’s commitment to efficient supply chains and meticulous post-clearance audits.

The focus is on enabling Small and Medium Enterprises (SMEs) to qualify for AEO status through tailored training, support, and incentives. 

The initiative aligns with broader goals of inclusive growth, job creation, and poverty alleviation, ensuring societal segments benefit from trade facilitation and economic development opportunities.

The mission specifically addresses entry barriers for SMEs, considering Nigeria’s strategic position in the global trade framework and its role in the African Continental Free Trade Area (AfCFTA). 

CGC Adeniyi stressed the significance of PCA and AEO in the successful implementation of AfCFTA, citing their role in refining customs procedures, strengthening compliance mechanisms, and promoting transparency for regional integration and economic progress in Africa. 

Expressing gratitude to the World Customs Organisation and acknowledging the collaboration with stakeholders, including the WCO-led PCA, IMF, World Bank, and AEO Diagnostic Mission, CGC Adeniyi highlighted the dedication and expertise driving the initiative. 

The Deputy Comptroller-General of Customs (DCG), Abdullahi Musa, welcomed participants, noting Nigeria’s standing as a hub for trade and investment. DCG Musa underscored the mission’s aim to enhance compliance mechanisms, facilitate trade, and contribute to broader WCO objectives for global border security and sustainable economic development. 

DCG Musa extended appreciation to the World Bank Group and the International Monetary Fund for their support, displaying the dedication and expertise of all stakeholders involved in the two-week programme aimed at accelerating trade facilitation within the Nigeria Customs Service.