{"id":76339,"date":"2023-06-02T08:49:41","date_gmt":"2023-06-02T07:49:41","guid":{"rendered":"https:\/\/dailynews24.ng\/?p=76339"},"modified":"2023-06-02T08:49:47","modified_gmt":"2023-06-02T07:49:47","slug":"customs-targets-200bn-revenue-generation","status":"publish","type":"post","link":"https:\/\/dailynews24.ng\/customs-targets-200bn-revenue-generation\/","title":{"rendered":"Customs targets $200bn revenue generation"},"content":{"rendered":"\n<p><strong>The Nigeria Customs Service (NCS) has commenced an ambitious trade modernization project under a public-private partnership (PPP) with a target to raise $200 billion in revenue in the next 20 years.<\/strong><\/p>\n\n\n\n<p>The project management office of the deal was inaugurated in Abuja yesterday in partnership with Trade Modernization Project, TMP Limited, with a mandate to deliver the best-in-class technology for full automation of NCS processes and align with its peers around the world.<\/p>\n\n\n\n<p>According to the chairman of TMP Ltd., Saleh Ahmadu, &#8220;under the terms of the concession agreement, TMP will invest a total of US$3.2 billion over a 20-year period, which will generate more than US$200 billion in revenue for the Federal Government<a href=\"http:\/\/dailynews24.ng\">.<\/a><\/p>\n\n\n\n<p>&#8220;The financing for the first phase of the project, in the sum of US$300 million, together with a cash-backed US$9 million performance bond in favor of the NCS, have been secured through our financial partners.&#8221;<\/p>\n\n\n\n<p>He revealed that a substantial part of the investment would go towards building the capacity of the NCS, ensuring business continuity, and managing the associated project risks.<\/p>\n\n\n\n<p>The chairman explained that the project would be delivered through key components, including the Unified Customs Management System (UCMS) and the Trade Portal, a central hub of all trading activities that keys into the UCMS and would provide the integration modules for Other Government Agencies (OGA.<\/p>\n\n\n\n<p>He said the trade hub would further simplify how the public obtains import and export licenses and other non-NCS-related certifications that enhance the import and export decision-making capacity of the NCS.<\/p>\n\n\n\n<p>Saleh said another component, a non-intrusive system that integrates 67 cargo scanners of various types and capacities at sea ports, airports, and land borders, would be installed.<\/p>\n\n\n\n<p>He said, &#8220;The system will provide anonymity in cargo scanning, coordinated release decisions, and seamless post-clearance audits to ensure the optimal performance of inspection image analysts.&#8221;<\/p>\n\n\n\n<p>In his remarks, the Comptroller-General of <a href=\"https:\/\/www.google.com\/url?sa=t&amp;source=web&amp;rct=j&amp;url=https:\/\/customs.gov.ng\/&amp;ved=2ahUKEwiBxOHNjKT_AhWaScAKHYfmA0kQFnoECBIQAQ&amp;usg=AOvVaw0hf1CCoIHRosvNAEUkDTfN\">Customs<\/a>, CGC, Col. Hameed Ali, retd., said the TMP was an answer to &#8220;the pressing need for better infrastructure and the importance of becoming a data-driven organization to enhance our service delivery.&#8221;<\/p>\n\n\n\n<p><em>Vanguard<\/em>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigeria Customs Service (NCS) has commenced an ambitious trade modernization project under a public-private partnership (PPP) with a target to raise $200 billion in revenue in the next 20 years. The project management office of the deal was inaugurated in Abuja yesterday in partnership with Trade Modernization Project, TMP Limited, with a mandate to [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":76340,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1175],"tags":[3598,882],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Customs targets $200bn revenue generation - Daily News 24 - Latest Nigerian News<\/title>\n<meta name=\"description\" content=\"Nigeria Customs has commenced an ambitious trade modernization project with a target to raise $200 billion in revenue in the next 20 years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailynews24.ng\/customs-targets-200bn-revenue-generation\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Customs targets $200bn revenue generation - 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