General News
FEC approves $3.1b for the automation of Customs Service
The Federal Executive Council, FEC, has approved the sum of $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 14th Virtual FEC meeting chaired by President Muhammadu Buhari at the Presidential Villa 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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