• Thursday, June 20, 2024
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NCS to deliver over $200bn revenue to FG with modernisation project

The Nigeria Customs Service (NCS) is expected to contribute over $200 billion to federal government revenue through its new modernisation project, Saleh Ahmadu, chairman, Trade Modernisation Project Limited (TMPL) has said.

This was disclosed during the flag off of the modernisation project management office of the Nigeria Customs Service (NCS) on Thursday in Abuja.

“Under the terms of the Concession Agreement, TMP will invest a total of US$3.2 Billion over a 20-year period, which will generate more than US$200 Billion in revenue for the Federal Government,” he said.

Ahmadu revealed that financing for the first phase of the project valued at $300 Million, together with a cash backed Bond $9 Million in favour of the NCS, have been secured through financial partners, adding that the retrofit of the Project Management Office (PMO) is part of the initial investment.

He said that a substantial part of this investment will go towards building the capacity of the NCS, ensuring business continuity, and managing the associated project risks.

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“As trade becomes increasingly complicated, the project will equip the NCS with the necessary technology tools and platforms to drive trade harmonisation,” he said.

He said the project will be implemented through the delivery of some components including a Unified Customs Management System (UCMS) which will be powered by a Main Data Centre and a Disaster Recovery Data Centre, with a custom build cloud environment for the NCS, a trade portal, a non-intrusive inspection system, a risk control system, an electronic cargo tracking system, among others.

Other components include a cargo release system; an enforcement system; telecommunication, video surveillance and connectivity; border management systems and automation systems,” he said.

In his remarks, Hameed Ibrahim Ali, Comptroller-General of Customs regarded the modernisation project as one of the highest achievements recorded by the NCS especially since 2015, when NCS was envisioned to be at the forefront of reform, restructuring, and revenue generation.

“Looking back, we recognized the pressing need for better infrastructure and the importance of becoming a data-driven organization to enhance our service delivery; leveraging technology effectively, NCS can adapt to changing market dynamics in trade, optimize our operations, and unlock new revenue streams thereby contributing to economic growth and wellbeing of our citizens,” he said.

He added that contrary to thoughts about the modernisation project taking jobs, he said jobs are not threatened because man power is critical in the operation of the agency.