The former Acting Managing Director, National Inland Waterways Authority (NIWA), Chief Mrs.) Chinwe Ezenwa has made history as her firm, Le Look Nigeria Limited has been officially recognized as an Authorized Economic Operator (AEO).
The certification of Ezenwa’s firm 40 years after she founded it is coming on the heels of the official launching of AEO programme by the Nigeria Customs Service (NCS) as part of marking a significant step towards trade facilitation in the country.
Maritime Bits checks revealed that Le Look Nigeria Limited and five other firms were certified for AEO programme following their successful participation and contributions during the pilot phase.
The Comptroller General of Customs (CGC), Alhaji Bashir Adewale Adeniyi who disclosed this at the formal launch of the AEO programme at the Lagos Continental Hotel recently stated that a registration portal for other eligible companies would now be opened by February 17, 2025.
The high point of the occasion was the presentation of the AEO certificates to the six selected certified firms.
Apart from Le Look Nigeria Limited, the five other firms that got the AEO certification are Friesland Campina WAMCO Nigeria Plc, a dairy product company, producing Three Crowns Milk; 11Plc (formerly Mobil Oil Nigeria Plc), an indigenous company supplying lubricants; and First Class Refreshment Limited, a company packaging and exporting Nigerian snacks including kilishi.
Others are Huawei Technology Company Nigeria Limited, a technology provider operating in Nigeria since 1999; as well as Ideal Royal Crown Logistics Limited, a logistics company providing end-to-end solutions.
Giving an insight into the certification of the six firms, the NCS helmsman said: “We actually started with 12 potential companies, but along the line, we had to focus on these six.”
Adeniyi expressed confidence that the remaining companies would soon achieve AEO status just as he pointed out the remarkable success of the pilot phase.
He revealed that the six participating companies saw their collective trade value increase from N185.8 billion in 2023 to N563.8 billion in 2024.
According to Adeniyi, their contribution to NCS revenue also grew significantly, reaching N51.1 billion in 2024, contributing to the overall revenue growth from N3.2 trillion in 2023 to N6.1 trillion in 2024.
The NCS boss emphasized that the AEO programme impact on operational efficiency, just as he revealed that the average cargo release time for AEO-certified companies during the pilot phase was 43 hours, surpassing the target of 48 hours and representing a 66.9 percent reduction compared to the pre-AEO period.
He also highlighted the cost savings exceeding N100 million achieved by the pilot companies within a quarter.
His words: “The true measure of this partnership’s success is beyond the metrics. It is in the quality of relationships we are building. We are not just working with compliant companies. We are partnering with organizations that uphold the highest standards of business ethics.”
He reiterated that stressed that the AEO programme aligns with President Bola Ahmed Tinubu’s vision of achieving a $1 trillion economy by 2030 as well as the 8-Point Agenda of his administration when he was sworn in on May 29, 2023.
According to him, AEO programme has potentials to support food security, economic growth, job creation, access to capital, and anti-corruption efforts. Nigeria is positioning itself as a reliable, predictable, and competitive trading partner.
Not a few participants at the event including the Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii lauded the AEO programme.
Odii expressed delight that AEO programme has potentials to benefit SMEs, pointing out that it could significantly reduce bottlenecks and improve their return on investments.
According to him, almost immediately, our small business owners would get return on investment because AEO is now in operations today. The participation of Le Look Nigeria Limited founded by Mrs. Ezenwa and First Class Refreshment Limited are examples of how the programme can empower small businesses. It is a new day in Nigeria with the launch of the Single Window Initiative with the launch of AEO and with the reforms and policies that President Bola Ahmed Tinubu is putting in Nigeria today.
On his part, President of the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Kelvin Oye stated that the organized private sector has the capacity to generate the needed revenue for 2025 if given the right environment.
His words: “The organised private sector represents 97% of the economy. If you tell us to cover the 13trillion in this year’s budget, it would be through productivity. We cannot borrow ourselves out or increase taxes, but if you want us to, we have the capacity to do it.”
The Director-General, Presidential Enabling Business Environment Council (PEBEC), Princess Zahrah Mustapha Audu in her remarks affirmed that the AEO programme aligns with PEBEC mandate and will enhance Nigeria’s trade competitiveness by simplifying customs processes for trusted businesses.
“We believe that the AEO is a significant step in ensuring our business is competitive and sustainable,” she added.
