Amid concerns about the state of economic activities linked the Nigeria Customs Service (NCS) after the introduction of the Customs Modernization Project, an economic expert, Mr. Ahmed Ogunshola, has posited that the development will herald huge benefits.
Ogunshola, General Manager of the Trade Modernisation Project, TMP, disclosed this to newsmen during a media tour of the Project Management Office of the Nigeria Customs Service Trade Modernisation Project.
He explained that CMP is the automation of the business processes of the NCS therefore simplifying and enhancing the experience of various categories of stakeholders.
“With regards to the trade value chain, Customs Modernization makes it easy to obtain import and export clearances, pay duties and obtain the release of goods.”
“The major advantage of the project is the significant growth in the revenue profile of the Federal Government. The project will generate in excess of $250 billion to the Federal Government over the life of the concession,” he said.
He equally opined that the project will bring Nigeria at par with the rest of the world, in terms of deploying technology to facilitate international trade.
“Furthermore, the project will give the economic diversification agenda of the Federal Government a huge boost, by providing further ease of cross-border trading”.
“By the time the project is fully implemented, it will cover all areas of customs activities, including duties collection, clearance operations and suppression of smuggling,” he remarked.
Meanwhile, the spokesperson of the NCS, CSC Abdullahi Maiwada, said the essence of the tour was to update the media and general public on the CMP, which began some years ago, in order to boost trade facilitation in the country.
