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Nigerian Customs New Concession Deal To Generate 176 Billion Dollars

Bello Akin by Bello Akin
June 1, 2022
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Nigerian Customs New Concession Deal To Generate 176 Billion Dollars
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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

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