FEC APPROVES $3.1BN FOR AUTOMATION OF NIGERIA CUSTOMS

Written by on September 4, 2020

THE FEDERAL EXECUTIVE COUNCIL (FEC) HAS APPROVED $3.1 BILLION FOR THE END TO END AUTOMATION OF THE NIGERIA CUSTOMS SERVICE (NCS).

NIGERIA’S MINISTER OF FINANCE, ZAINAB AHMED DISCLOSED THIS AT THE END OF THE FEC VIRTUAL MEETING IN ABUJA.

ACCORDING TO HER, THE CONCESSIONARY PERIOD IS 20 YEARS AND THE FUNDING IS SOLELY FROM INVESTORS WITH THE REVENUE EXPECTED FROM THIS AUTOMATION PEGGED AT $176BN.


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