How ‘Customs Modernization’ ll Boost Nigeria’s Economy – Expert

How ‘Customs Modernization’ ll Boost Nigeria’s Economy – Expert

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, has 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 explained that CMP is the automation of the business processes of the Nigeria Customs Service (NCS).

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 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, 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”.

In 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.

By PRNigeria.