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FEC approves two contracts worth N283.255bn to Nigerian Customs Service- Minister of Finance

todayJuly 24, 2020

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The Federal Executive Council has approved two contracts totaling N283.255bn and a foreign component of $18.12m for the Nigeria Customs Service.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, announced this to the State House correspondents at the closing of the council’s virtual meeting presided over by President Muhammadu Buhari on Wednesday, 22nd July 2020.

According to her, the first approval was for the reassessment of a contract that was previously approved by council to Messrs Airwave Limited in 2018 for the supply and installation of three mobile cargo scanners that would be placed in Onne, Port Harcourt and Tin Can Ports, in order to accommodate VAT which was not included in the initial contract and also to update the current exchange rates.

The approved contract is in the sum of $18.12m of foreign component, and a local component of N3.26bn inclusive of five percent VAT.

She further added that the second approved contract was for the design, construction, and supply of five ballistic assault boats and five patrol boats with all associated accessories in favor of Messrs CY West African Limited in the sum of N280,992, 888,75 inclusive of 7.5 percent VAT.

Mrs. Ahmed went on to explain that the boats were of paramount value to Nigerian Customs Service as it would enhance its operational efficiency and combat smuggling activities on waterways.

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