The Nigeria Customs Service(NCS) in collaboration with the World Bank under the Accelerating Revenue Mobilization Reforms Program (ARMOR), has initiated the modalities for migration from Fast Track Regime to Fast Track 2.0 (FT 2.0).
This will reduce the cost associated with cargo handling and demurrage at the ports
This system is meant to reward compliance and facilitate trade by admitting traders based on their adherence to regulations and contribution to trade in Nigeria.
The introduction of Fast Track 2.0, will also streamline trade processes, promote compliance, and create a more efficient and rewarding environment for traders.
According to the NCS in a statement issued by its National Public Relations Officer, Chief Superintendent of Customs(CSC),Abdullahi Maiwada,“When fully operational, FT 2.0 is expected to encourage traders to comply with Customs regulations and rules. One of the main advantages is the potential for significant cost reductions associated with cargo handling and demurrage at the ports.”
Consequently,traders interested in taking advantage of this facility have been encouraged to access more information and apply through the website www.fasttrack.nigeriatradehub.gov.ng.,while existing traders who are currently using the old Fast Track system are advised to apply to the new Fast Track 2.0 (FT 2.0).
