JUST IN: FEC approves $3.1bn for automation of Customs
The Federal Executive Council, FEC, on Wednesday, approved $3.1 billion for the end to end automation of the Nigeria Customs Service, NCS.
ChannelsTV reports that the Minister of Finance, Zainab Ahmed made the disclosure at the end of the FEC virtual meeting in Abuja.
She further disclosed that the concessionary period is 20 years and the funding is solely from investors with the revenue expected from this automation pegged at $176 billion.
Relatedly, the Council approved N13.122 billion for the upgrade of safe towers in Lagos, Kano, Abuja and Port Harcourt airports, with analogue systems transformed to digital.