Anyone familiar with the import and export business in Nigeria will recall how tedious the process used to be. It could take days or even weeks to complete due to ceaseless documentation that importers, exporters and their agents had to endure with the various regulatory agencies. Now, the Nigeria Customs Service (NCS) has developed a web-based application known as the Nigeria Trade Hub Portal, simplifying the entire process and providing information and guidance for international trade business processors in the areas of import, export and transit trade.
The www.nigeriatradehub.gov.ng portal, a non-restrictive and is an intuitive and interactive platform for classifying goods. Through it, trade processors are enabled to find exact Harmonised System Codes (HS Codes) required for related tariffs and duties.
This latest technology is expected to enhance compliance by traders and avail them the required information on tariff in areas like the prohibited items and taxes/levies due for payment upon importation. The application is also designed to touch on the aspect of trade facilitation such that trade processors can access information from all related government agencies. Guidelines and procedures for obtaining permits, licences and certificates of specified commodity and country of origin that a trade will require for business processing are also available on the portal.
The Nigeria Trade Hub portal allows traders to convert currencies to exchange rates set by the Central Bank of Nigeria (CBN) on a monthly basis, make payments, simulate tax and access the CPC Code. The application goes further to provide the tax and duties payable on any particular item, whilst presenting the user with the documents, i.e., the named permits or certificates required for the product, the issuing agency, the processing cost as well as the duration (no of days) for processing. This empowers the trader and provides them with sound information to assist them in competing on the international market.
A mobile Android App is also available on the Google Play store, and other platforms are to be rolled out soon. Source: Nigeria Trade Hub, Suleiman Uba Gaya and Valentina Minta (West Blue Consulting).