Maritime Journalists Training : News behind the sidelines

Maritime Journalists Training : News behind the sidelines
…Babatunde Olomu, Dera Nnadi enlighten participants on economic benefits of Advance Ruling System

The Maritime Journalists Training Workshop 2024, had come and gone, but the lessons learned, as well as skills acquired will remain relevant in factual reportage of activities in Nigerian maritime industry, taking into cognisance new terms and phrases in international trade and logistics

The Workshop paved the way for participants to keep themselves abreast with evolving terms in the maritime industry, the use of Information Communication Technology (ICT) and modern regulatory practices, in order
to report their news in tandem with the changing dynamics in the system.

But, beyond the lectures presented in the classroom and general interactions on topics discussed, the facts gathered at the sidelines of the programme also gave added information on Customs modernisation in Nigeria and trade facilitation tools put in place by Nigeria Customs Service under the watch of CGC Bashir Adewale Adeniyi MFR, which are globally recognised in international trade.

At the sidelines of the workshop, Babatunde Olomu and Dera Nnadi took their time to explain and educate maritime Journalists on issues raised and questions asked on modern trade facilitation tools.

Both Area Controllers gave extensive details on Advance Ruling System, Time Release Study, and the most recent initiative – ‘B’Odogwu launched by the CGC.

They highlighted the importance of using modern tools in facilitating trade, revenue collection and other economic benefits derived in the process, stressing that Nigeria Customs Service is moving in line with the global trend in this aspect.

For instance, they said emphatically that World Customs Organisation, WCO, and World Trade Organisation, WTO, require members to issue Advance Rulings in international trade.

These requirements are pertinent in trade facilitation because
Advance Rulings are described to be binding decisions on classification, origin, and valuation of goods before such items are imported into a country; or exported.

Explaining further, both Area Controllers mentioned that Advance Rulings are often issued following a request of an economic operator, or a trader planning a foreign trade operation. This becomes imperative
because the Advance Rulings help in making informed business decisions, adding certainty to international trade.

Also, Advance Rulings are important in risk management because information obtained in the process enables customs administrations to manage risk, by providing advanced knowledge of future importations, as the Rulings are issued within a reasonable time frame after an application is received.

More so, Advance Rulings are valid for a reasonable period of time after being issued, unless the circumstances supporting the ruling change in the process.

Our News inquiry revealed that aside being requirements for international trade, WCO has also developed guidelines and tools that can help with practical implementation of Advance Ruling programs.