Abiola Seun |
The Minister of Finance, Budget and National planning Hajiya Zainab Ahmed Shamsuna has said that the federal government has conceded N1.3 trillion to import duties, value added tax (VAT) waivers and other incentives for the past eight years.
The Minister disclosed this during a one-day sensitisation seminar on Automation of the Import Duty Exemption Certificate (IDEC) processes, organized by the Ministry in collaboration with the Nigeria Customs Service held in Kano.
“Approximately N341.9 billion worth of waivers was granted from August 2017 to August 2019. The scope of such requests is expanding; hence the need to have in place modern technology to drive its administration.
“The federal government, under the administration of President Muhammadu Buhari is keen on promoting and sustaining transparency and efficiency in delivering services in the public sector domain and the organized private sector,” the minister however stated.
“Interestingly, the just approved e-customs project that signals the beginning of end-to-end automation of Nigeria Customs Service processes and procedures will usher a new regime of total automation of all trans-border trade activities.
“Indeed, trade is being revolutionized through modernization and policies that create enabling environment for business to thrive,” the Comptroller General said.
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