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Nigeria, Benin Republic Float SIGMAT To Enhance Cross-Border Trade

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Nigeria, Benin Republic Float SIGMAT To Enhance Cross-Border Trade

 

. Customs Moves To Eliminate Cargo Diversion, Prevent Revenue Losses

 

 

The Customs administrations of Nigeria and the Benin Republic have launched a joint seamless trade interconnectivity process known as SIGMAT (System for Interconnected Management of Goods in Transit), in a bid to boost cross-border trade facilitation and enhance visibility of goods on transit.

The initiative aims to streamline the movement of goods along the Abidjan-Lagos corridor.

Speaking at the launch on Monday, the Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, emphasized the strategic importance of the Seme-Krake border in Nigeria’s trade network, emphasizing that the current trade volume represents only a fraction of the potential between Nigeria and Benin Republic.

He stated that the interconnectivity with Benin Republic’s customs system is a crucial move to facilitate international trade and strengthen bilateral cooperation between the two nations.

With this launch, Nigeria and Benin Republic join six other West African countries – Togo, Niger, Ghana, Mali, Côte d’Ivoire, and Burkina Faso – already operating on the SIGMAT Connectivity trade platform with the support of the ECOWAS Commission and the German Development Corporation GIZ.

Adeniyi highlighted that integrating the trade systems will not only enhance cooperation but also significantly boost cross-border commerce.

He described the launch as a major milestone in the collective pursuit of seamless trade integration and regional economic transformation across West Africa.

The CGC explained that the successful implementation of SIGMAT would be instrumental in eliminating cargo diversion and preventing revenue losses for both countries.

“What we are doing today marks a major milestone in our collective pursuit of seamless trade integration and regional economic transformation across West Africa.

“What we are launching today is SIGMAT connectivity, we bring our systems together, it will foster cooperation between us and it will remove some of the challenges that our operators have faced over the years,” he said.

Speaking further on the objectives of the SIGMAT electronic platform, conceived over a year ago, Adeniyi said the platform will improve the visibility of goods in transit, combating diversion and fraud along the Nigeria-Benin corridor, fostering inter-agency coordination and collaboration, simplifying border procedures, reducing delays, and ultimately enhancing trade facilitation between the two countries to boost revenue and prosperity.

Acknowledging potential challenges, the CGC assured that the systems put in place are resilient enough to address issues like fraud and diversion, drawing on the experience of other Customs administrations within the region.

He affirmed that officers involved in the project have been adequately trained, and stakeholders and Customs are actively involved, with ongoing awareness campaigns planned for effective implementation.

Earlier, the Director General of the Benin Republic Customs Administration, Adidjatou Hassan Zanouvi, underscored the significance of SIGMAT in facilitating the movement of goods and combating fraud that hinders seamless trans-border trade.

“We are here today for the technical launch of the SIGMAT platform which is a very important milestone for the cooperation and the interoperability between Benin and Nigerian customs, because it will facilitate the movement of goods and also will help our Customs Services to fight against any fraud,” Zanouvi stated.

She added that the system would also aid in revenue collection and trade facilitation, solidifying the movement of goods from Abidjan, already on the SIGMAT system, through Benin to Nigeria, and vice versa.

Zanouvi expressed optimism about the post-launch utilization of the system and emphasized the importance of training and sensitization for all stakeholders.

 

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Celebrity Code

Serena Williams

Serena Williams is an American former professional tennis player. Born: 26 September 1981, Serena is 40 years. She bids farewell to tennis. We love you SERENA.

Quotes

Success is not final; failure is not fatal: It is the courage to continue that counts.

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Nigeria, Benin Republic Float SIGMAT To Enhance Cross-Border Trade

 

. Customs Moves To Eliminate Cargo Diversion, Prevent Revenue Losses

 

 

The Customs administrations of Nigeria and the Benin Republic have launched a joint seamless trade interconnectivity process known as SIGMAT (System for Interconnected Management of Goods in Transit), in a bid to boost cross-border trade facilitation and enhance visibility of goods on transit.

The initiative aims to streamline the movement of goods along the Abidjan-Lagos corridor.

Speaking at the launch on Monday, the Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, emphasized the strategic importance of the Seme-Krake border in Nigeria’s trade network, emphasizing that the current trade volume represents only a fraction of the potential between Nigeria and Benin Republic.

He stated that the interconnectivity with Benin Republic’s customs system is a crucial move to facilitate international trade and strengthen bilateral cooperation between the two nations.

With this launch, Nigeria and Benin Republic join six other West African countries – Togo, Niger, Ghana, Mali, Côte d’Ivoire, and Burkina Faso – already operating on the SIGMAT Connectivity trade platform with the support of the ECOWAS Commission and the German Development Corporation GIZ.

Adeniyi highlighted that integrating the trade systems will not only enhance cooperation but also significantly boost cross-border commerce.

He described the launch as a major milestone in the collective pursuit of seamless trade integration and regional economic transformation across West Africa.

The CGC explained that the successful implementation of SIGMAT would be instrumental in eliminating cargo diversion and preventing revenue losses for both countries.

“What we are doing today marks a major milestone in our collective pursuit of seamless trade integration and regional economic transformation across West Africa.

“What we are launching today is SIGMAT connectivity, we bring our systems together, it will foster cooperation between us and it will remove some of the challenges that our operators have faced over the years,” he said.

Speaking further on the objectives of the SIGMAT electronic platform, conceived over a year ago, Adeniyi said the platform will improve the visibility of goods in transit, combating diversion and fraud along the Nigeria-Benin corridor, fostering inter-agency coordination and collaboration, simplifying border procedures, reducing delays, and ultimately enhancing trade facilitation between the two countries to boost revenue and prosperity.

Acknowledging potential challenges, the CGC assured that the systems put in place are resilient enough to address issues like fraud and diversion, drawing on the experience of other Customs administrations within the region.

He affirmed that officers involved in the project have been adequately trained, and stakeholders and Customs are actively involved, with ongoing awareness campaigns planned for effective implementation.

Earlier, the Director General of the Benin Republic Customs Administration, Adidjatou Hassan Zanouvi, underscored the significance of SIGMAT in facilitating the movement of goods and combating fraud that hinders seamless trans-border trade.

“We are here today for the technical launch of the SIGMAT platform which is a very important milestone for the cooperation and the interoperability between Benin and Nigerian customs, because it will facilitate the movement of goods and also will help our Customs Services to fight against any fraud,” Zanouvi stated.

She added that the system would also aid in revenue collection and trade facilitation, solidifying the movement of goods from Abidjan, already on the SIGMAT system, through Benin to Nigeria, and vice versa.

Zanouvi expressed optimism about the post-launch utilization of the system and emphasized the importance of training and sensitization for all stakeholders.

 

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Celebrity Code

Adebimpe Oyebade

Adebimpe Oyebade is a Nollywood star, who recently got married to a colleague, Lateef Adedimeji in a glamorous wedding.

Quotes

Your present circumstances don’t determine where you can go. They merely determine where you start.

  • Nido Qubein
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