Encouraging cross-border trade yields huge benefits, says Adeniyi
Encouraging cross-border trade yields huge benefits, says Adeniyi
Adewale Adeniyi, the comptroller-general (CG) of customs, says encouraging cross-border trade within Africa offers significant economic benefits.
Adeniyi spoke on Friday while briefing journalists at the State House in Abuja.
He said that in any regional economic grouping, member countries generally agree to suspend customs duties to some extent on goods traded among themselves.
The customs CG added that the African Continental Free Trade Area (AfCFTA) is building on the existing blocs to achieve continental free trade.
According to the CG, while revenue collected by customs is used to fund social services and infrastructure — including health and education — facilitating trade, particularly across borders, delivers greater long-term economic benefits.
“If you also encourage the citizens to trade, especially across the borders, the benefits that come from trade is quite huge,” Adeniyi said.
