News Commentary Nigeria @ 64: How Adeniyi’s Balancing Act of Revenue Generation, Trade Facilitation Sustains Nigeria’s Economy

News Commentary
Nigeria @ 64: How Adeniyi’s Balancing Act of Revenue Generation, Trade Facilitation Sustains Nigeria’s Economy

By Frank Odinukaeze

As Nigeria celebrates its 64th Independence Day, the spotlight shines on the remarkable achievements of Bashir Adewale Adeniyi, the Comptroller General of the Nigeria Customs Service (NCS). His tenure has been marked by a delicate balancing act between revenue generation and trade facilitation, which has played a crucial role in sustaining the nation’s economy.
Revenue generation remains a core mandate of the NCS. Since his appointment in June 2023, CGC Adeniyi has been recognized for his significant achievements in this area, earning accolades such as the “Outstanding Revenue Collection” award from President Bola Tinubu. The NCS’s role in revenue collection is indispensable, providing the government with the necessary funds to drive national development projects and public services.
Under Adeniyi’s leadership, the NCS has consistently surpassed its revenue targets. This achievement is not merely a result of stringent enforcement but also due to innovative reforms aimed at enhancing efficiency and transparency within the service. By leveraging technology and data analytics, the NCS has been able to plug revenue leakages and streamline customs processes.
CGC Adeniyi has emphasized the importance of trade facilitation, recognizing that it is essential for sustainable economic development. Speaking at the Nigerian Institute of International Affairs (NIIA) in November 2023, he highlighted the need for a nuanced approach that fosters both revenue generation and trade facilitation. This involves adopting modern technologies and processes to streamline customs operations, such as paperless transactions and the implementation of the Authorized Economic Operators (AEO) program.

The NCS’s commitment to trade facilitation aligns with broader continental objectives, such as the Africa Continental Free Trade Area (AfCFTA). By embracing initiatives like Advance Ruling and Rules of Origin (ROO), the NCS aims to create a more efficient and transparent trading environment that benefits small and medium-scale entrepreneurs.
Adeniyi’s approach to trade facilitation has been very commendable. He has dismantled numerous obstacles to trade, prioritizing efficiency in service delivery. Initiatives such as the introduction of a single window system for trade, and the automation of customs procedures, have significantly reduced the time and cost of doing business at Nigeria’s ports. These reforms have not only boosted trade volumes but have also enhanced Nigeria’s competitiveness on the global stage.
Balancing Act
The true genius of Adeniyi’s leadership lies in his ability to balance the dual objectives of revenue generation and trade facilitation. While it is often challenging to achieve both simultaneously, Adeniyi has demonstrated that with the right policies and a commitment to reform, it is possible to create a customs service that is both a revenue-generating powerhouse and a facilitator of trade.
The impact of these reforms on Nigeria’s economy cannot be overstated. By ensuring a steady flow of revenue and facilitating trade, Adeniyi has helped to create a more stable and resilient economic environment. This has been particularly important in the face of global economic uncertainties and domestic challenges.
The NCS under the leadership of CGC Adeniyi has witnessed transformative leadership,despite obvious challenges.One of the significant challenges faced by the NCS is the need for transparent communication channels with stakeholders. CGC Adeniyi has pointed out that misunderstandings and inefficiencies in trade operations often stem from inadequate communication. To address this, he advocates for regular consultation platforms that prioritize feedback from the business community, ensuring that customs operations are not only efficient but also reflective of the needs of diverse stakeholders.

Indeed ,the NCS must navigate the complexities of global trade dynamics while maintaining its revenue generation mandate. This,however, requires continuous adaptation and innovation, leveraging technology to enhance both revenue collection and trade facilitation.
As Nigeria looks to the future, the lessons from Adeniyi’s tenure will be invaluable. His balancing act of revenue generation and trade facilitation serves as a model for other sectors and underscores the importance of dynamic,transformative and innovative leadership in driving economic growth