June 15, 2024

Why ‘Customs Modernisation’ II Change Nigeria’s Economic Outlook – Expert

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Why ‘Customs Modernisation’ II Change Nigeria’s Economic Outlook – Expert

By Jerry Aguigbo

Experts have predicted that the Customs Modernisation Project will change Nigeria’s economics outlook. There are many benefits that will accrue to Nigeria, as a nation, by the time the Customs Modernisation Project, CMP, is fully implemented, Mr. Ahmed Ogunshola, said.

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 reiterated that CMP is the automation of the business processes of the Nigeria Customs Service (NCS).

According to him, this is to simplify and enhance the experience of stakeholders
in the trade value chain, making it easy to obtain import and export clearances, pay duties and obtain the release of goods.

The major advantage of the project he explained, 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.

Equally, he enthused 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”.

“Just to add, 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”.

While giving his remarks, CSC Abdullahi Maiwada, the spokesperson of the Nigeria Customs, 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.

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