Nigeria Customs Service commences flag-off of Trade Modernization Project
Story from Haruna YUSUF, Abuja
The Chairman of Trade Modernization Project Ltd., Alhaji Saleh Ahmadu, stated that the effective implementation of the Trade Modernization Project by the Nigeria Customs Service (NCS) would bring in over $200 billion for the federal government.
Ahmadu made this statement during the flag-off of the Project Management Office of the Nigeria Customs Service.
The flag-off ceremony was conducted by the Comptroller-General of Customs, Col Hameed Ali (Rtd).
The Nigeria Customs Service partnered with Trade Modernisation Project (TMP) Limited under a Public-Private Partnership (PPP) arrangement to deliver best-in-class technology for the full automation of NCS processes, bringing it in line with its counterparts around the world.
This project aims to enhance efficiency in NCS’ service delivery.
Under the Concession Agreement terms, TMP will invest a total of $3.2 billion over a 20-year period.
The financing for the first phase of the project, totaling $300 million, has been secured along with a $9 million Performance Bond in favour of the NCS, backed by cash, through the project’s financial partners.
Speaking at the event, the Customs CG described the project as a game-changer in the Service’s quest to use technology to drive its operations.
The CG mentioned that since assuming office in 2015, he and the management team recognized the pressing need for better infrastructure and the importance of becoming a data-driven organization to enhance service delivery.
He emphasized the significance of digitalization in driving efficiency, transparency, and effectiveness, highlighting that this was the reason they wrote to former President Muhammadu Buhari, outlining the importance of modernizing the operations of the Nigeria Customs Service.
Ali expressed that although the Trade Modernization Project was initiated by the NCS, it became a Presidential Initiative, and its deliverables would have a transformative impact on reform, restructuring, and revenue generation across the Service.
He stated, “By leveraging technology effectively, NCS can adapt to changing market dynamics in trade, optimize our operations, and unlock new revenue streams, thereby contributing to the economic growth and well-being of our citizens.”
He further added, “Despite the challenges we encountered along the way, we persevered, and today, on behalf of the NCS and our concessionaire, I extend a warm welcome to all the participants, stakeholders, and esteemed guests joining us for this remarkable event. The flag-off of the Modernization Project signifies not only the culmination of our efforts but also a celebration of the NCS’s determination, resilience, and foresight.”
