The Nigeria Customs Service (NCS) revealed that the implementation of the newly signed e-customs project will generate $176 billion in 20 years.
This was disclosed by the Comptroller-General, retired Col. Hameed Ali, on Monday in Abuja during the signing of the e-Customs concession agreement between the NCS, Africa Finance Corporation (AFC), and China’s Huawei Technologies Limited.
Ali said, “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 revenue. The Nigeria Customs Service (NCS) revealed that the implementation of the e-customs project will generate $176 billion in 20 years.
He also revealed that the concession would alleviate the cost of doing business and boost productivity for the service.
–Bello Akinkunmi Yakub