EDUN ADVOCATES ACCELERATED CUSTOMS REFORMS TO STRENGTHEN INTRA-AFRICAN TRADE, ECONOMIC RESILIENCE

EDUN ADVOCATES ACCELERATED CUSTOMS REFORMS TO STRENGTHEN INTRA-AFRICAN TRADE, ECONOMIC RESILIENCE

In a bold move to revamp regional trade and bolster economic resilience, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has called for accelerated customs reform across West and Central Africa.

This call to action was made at the opening of the Fourth Conference of Development Partners of the World Customs Organization for West and Central Africa (WCO-WCA) on Wednesday in Abuja, highlighting the need for deeper structural reforms to unlock the region’s vast economic potential.

Edun noted that intra-regional trade accounts for just 12% of the region’s total trade, despite a combined population of 450 million and a GDP approaching $1 trillion. While the Nigerian Customs Service recorded a 90% year-on-year revenue increase and exceeded government targets by 20%, he highlighted the need to build on this momentum through deeper structural reforms.

The Minister reaffirmed Nigeria’s commitment to modernisation, citing the forthcoming Single Window Project expected in early 2026, and urged broader adoption of World Customs Organization instruments such as the Authorised Economic Operators programme and the Advanced Ruling system.

He also emphasised the importance of donor coordination and long-term technical assistance to support sustainable reform.

Many of the initiatives, HM Edun noted, are supported by concessional World Bank loans already reflected in the national budget and borrowing plan.

The two-day conference brought together customs leaders, donors, and trade experts to align on regional strategies for enhancing trade facilitation and economic integration.

As the region moves forward, one thing is clear: accelerated customs reform is a critical step towards unlocking West Africa’s vast economic potential. With the right policies and partnerships in place, the region can unlock new opportunities for growth, trade, and economic resilience.

Thus, the Fourth Conference of Development Partners of the World Customs Organization for West and Central Africa serves as a timely platform for stakeholders to align on regional strategies and drive progress towards a more prosperous and integrated West Africa.