e-Customs concession deal signed to last 20 years
By Jeph Ajobaju, Chief Copy Editor
Implementation of the e-Customs project is anticipated to yield $176 billion in 20 years, according to Nigeria Customs Service (NCS) Comptroller General Hameed Ali.
He made the projection in Abuja during the signing of the e-Customs concession agreement between the NCS, Africa Finance Corporation (AFC), and China’s Huawei Technologies.
He also enthused that the concession would alleviate the cost of doing business and boost productivity for the service.
“The $3.2 billion e-Customs project is being financed by the Africa Finance Corporation (AFC) and managed by Huawei Technologies Limited under a 20-year concession window.
“When fully implemented, it would quadruple Customs’ current N210 billion monthly revenue collection,” Ali said.
“We will be making $176 billion within the next 20 years. I 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 all Nigerians. The success of this project will be on the global map. We are going to hit the ground running.
“The journey has been long and torturous, but we’ve eventually signed the dotted lines. I want to appreciate the Infrastructure Concession Regulatory Commission (ICRC) for the commitment to see the project to fruition.”
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Migration from analogue to digital
Acting ICPC Director General Michael Ohiani explained that the project 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,” he said, according to Nairametrics.
Saleh Ahmadu, Trade Modernisation Project Limited (TMPL) Chairman and Concession Project Chairman added that “as the concession period begins, we wish to assure Nigerians that the revenue target of 176 billion dollars for the Federal Government will be achieved, if not surpassed.
“More importantly, we are excited about the real economic benefits for the country, in terms of business growth for exporters and import-dependent businesses.
“Others are improving global supply chains, enhanced industrial capacity utilisation and creation of employment opportunities.”