The Nigeria Customs Service (NCS) says it will generate a whopping revenue of $176 billion over the next 20 years through the implementation of e-customs project.
\nThe Comptroller General of the Nigeria Customs Service, Col. Hameed Ali, disclosed this in\u00a0 Abuja on Monday during the signing of e-Customs concession agreement between the NCS, Africa Finance Corporation (AFC) and China\u2019s Huawei Technologies Limited.
\nAli noted that the e-Customs concession project would ease the cost of doing business, boost revenue, enhance productivity and stop every arbitrariness in the service.
\nAccording to him: \u201cThe $3.2 billion e-Customs project to be financed by the Africa Finance Corporation (AFC) and managed by Huawei Technologies Limited under a 20-year concession window, when fully implemented, would quadruple Customs\u2019 current N210 billion monthly revenue collection.
\n\u201dWe will be making $176 billion within the next 20 years. The journey has been long and torturous, but we\u2019ve eventually signed the dotted lines. I want to appreciate the Infrastructure Concession Regulatory Commission (ICRC) for the commitment to see the project to fruition\u201d.
\n\u201cI appreciate our partners, Huawei Technologies Limited. We had to go to China a couple of times and today we are going to become fully digitised. I thank the AFC for financing this project on behalf of the entire Nigerians.
\n\u201cThe success of this project will be on the global map. We are going to hit the ground running. It\u2019s a very beneficial project especially as it\u2019ll garner $176 billion for the concession period.
\n\u201c We are likely to surpass that. It\u2019s a 20-year project by which time all aspects of it would have been deployed and Nigerians will decide whether to own it or allow it run as a concession.
\n\u201cSoon, we will invite Mr President to flag off this project but before then, work starts in earnest\u201d.
\nThe Acting Director-General of ICRC, Mr Michael Ohiani, described the project as revolutionary, adding that it would bring digital smart processes and procedures to customs operations.
\n\u201cThis is a migration from analogue to digital. We urge the concessionaire to stick to the rules of engagement as we will be monitoring the project every step of the way,\u201d he said.
\nMr Kelvin Yang, representing Huawei Technologies Limited, said the company would make sure that the aim of the concession agreement was achieved, promising to make it a world standard project.
\nAlhaji Saleh Amodu, Chairman, Project Modernisation Limited, in his address hailed President Muhammadu Buhari for approving the project and thanked the Customs boss for envisioning it.
\nHe said the project will ease export, simplify import, and earn Forex for the country.<\/p>\n
By: Nkpemenyie Mcdominic, Lagos<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigeria Customs Service (NCS) says it will generate a whopping revenue of $176 billion over the next 20 years through the implementation of e-customs project. The Comptroller General of the Nigeria Customs Service, Col. Hameed Ali, disclosed this in\u00a0 Abuja on Monday during the signing of e-Customs concession agreement between the NCS, Africa Finance […]<\/p>\n","protected":false},"author":1,"featured_media":296231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[688],"class_list":["post-296148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-front-pix"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/296148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=296148"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/296148\/revisions"}],"predecessor-version":[{"id":296171,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/296148\/revisions\/296171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/media\/296231"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=296148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=296148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=296148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}