Home Local FEC APPROVES $3.1BN FOR AUTOMATION OF NIGERIA CUSTOMS

FEC APPROVES $3.1BN FOR AUTOMATION OF NIGERIA CUSTOMS

FEC APPROVES $3.1BN FOR AUTOMATION OF NIGERIA CUSTOMS

The Federal Executive Council, FEC has approved 3.1 billion dollars for the automation of the Nigeria Customs Service, NCS. 

Nigeria’s Minister of Finance, Zainab Ahmed made this known at the end of the virtual meeting FEC held in Abuja on Wednesday.

Ahmed while speaking said the concessionary period is 20 years and the funding is solely from investors with the revenue expected from this automation pegged at 176bn dollars.

Meanwhile, the Council also approved the upgrade of safe towers in Lagos, Kano, Abuja and Port Harcourt airports.

Analogue systems in the airports are to be upgraded to digital just as weather reports will now be transmitted instantly as against the current hourly practice, the minister added the airport upgrade is to cost 13.122 billion naira.