Nigeria’s Minister of Finance, Zainab Ahmed, at the end of the 14th FEC virtual meeting which took place in Abuja on Wednesday, September 2, 2020, disclosed that the Federal Executive Council (FEC) has approved $3.1 billion for the end to end automation of the Nigeria Customs Service (NCS).
Zainab Ahmed said the concessionary period is 20 years and the funding is solely from investors with the revenue expected from this automation pegged at $176bn.
The minister also added that the upgrade of safe towers in Lagos, Kano, Abuja and Port Harcourt airports was also approved by the executive council.
This means that analogue systems in the airports will be upgraded to digital just as weather reports will now be transmitted instantly as against the current hourly practice.
The airport upgrade is to cost N13.122 billion.