FEC approves $3.1bn for automation of Nigeria Customs
NEWS DIGEST – The Federal Executive Council (FEC) has approved $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 FEC virtual meeting in Abuja on Wednesday.
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.
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 N13.122 billion.
During the meeting, FEC also reiterated the need for all Ministries, Departments and Agencies (MDAs) to consult the Federal Government-owned Galaxy Backbone Limited before budgeting and all payments should go to the Treasury Single Account (TSA).
Council noted that all federal institutions have equally been assessed to see what Information Communication Technology (ICT) upgrades are needed.
The identified upgrades are to commence immediately, the Council said.
To aid the fight against drug abuse, FEC gave a nod to the purchase of a property at the Aviation Village, Abuja.
The building which will serve as accommodation for officers of the National Drug Law Enforcement Agency (NDLEA), was formerly owned by Chachangi Airlines and was bought for N1.196bn with a delivery period of four weeks.