By Adedapo Adesanya
The Federal Executive Council (FEC) has approved a total of N20.1 billion for the procurement of various operating equipment for the Nigerian Customs Service (NCS).
Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning, disclosed this on Wednesday to State House Correspondents at the end of the weekly FEC meeting held at the Presidential Villa in Abuja and presided over by Vice President Yemi Osinbajo.
The council also approved N539.3 million for the construction of the Federal Inland Revenue Service (FIRS) building at the Ilupeju Medium and Small Taxpayers’ office, according to the Minister.
The Minister further said that a total of 427 operating vehicles worth N14.55 billion and nine assorted gunboats worth N5.6 billion were all approved for Customs contracts.
“The ministry also presented, on behalf of the Nigerian Customs Service, a memo that was seeking for Council’s approval for the design, construction and supply of two NC36M patrol boats, in favour of Messrs of Boat Plus Limited, in the sum of N5,062,530,400, inclusive of 7.5 per cent Value Added Tax (VAT) with a delivery period of 12 months and council approved our request.
“We also presented a memo, again on behalf of the Nigerian Customs Service, for the approval of council for the design, construction and supply of seven fast assault patrol boats and seven regular patrol boats, in favour of Messrs Siwa West Africa Limited, in the sum of N501,472,471.08, inclusive of 7.5 per cent VAT with a delivery period of eight weeks.
“The purpose of the purchase of these two types of patrol boats is to enhance the efficiency and effectiveness of operations of the Nigerian Customs Service in its bid to control smuggling and also ensure enhanced efficiency in all customs duty operations in the Marine Unit of the Nigerian Customs Service.
“We also presented, again on behalf of the Nigeria Customs Service, a request for Council’s approval and council approved the procurement of 427 operational vehicles for the Nigerian Customs Service operations in favour of various contractors in the combined sum of N14.55 billion, inclusive of 7.5 per cent VAT with a delivery period of four weeks,” she said.
On his part, the Minister of Information and Culture, Mr Lai Mohammed, speaking on behalf of Minister of State for Education, Mr Emeka Nwajiuba, also revealed that council approved a project for the extension of the University of Ibadan’s library worth N532 million.
“The Minister of Education also presented a memo for the award of contract for the construction and furnishing of the extension of the library of the University of Ibadan. The memo, which was approved, is at the cost of N532,609,000 and with a completion period of 48 weeks.
“It was a memo that was very well received because of the need to actually extend the library facility in the University. For many years, the library of the University of Ibadan had needed real extension, given a surge of the student population,” he said.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
Like Our Facebook Page
Latest News on Business Post
- 11 Plc (Mobil Oil) Finally Quits Stock Exchange May 8, 2021
- NGX Index Rises 0.21% as Investors Patronise Value Stocks May 8, 2021
- Fresh Optimism Lifts Oil Market into Positive Territory May 8, 2021
- Moody’s Fears First Bank Financial Health Could be at Risk May 8, 2021
- CSCS Fixes May 18 for 27th AGM in Lagos May 8, 2021
- Super League: UEFA Sanctions Manchester United, Others May 7, 2021
- Union Bank CEO Buys Additional Shares Amidst Acquisition Rumour May 7, 2021
- Ex-Minister Mama Taraba Dies in Egypt May 7, 2021
- Heritage Bank, RTEAN Unveil Insurance Scheme for Travellers May 7, 2021
- NGX Praises Transcorp Hotels Efforts to Boost Investor Confidence May 7, 2021
Economy5 years ago
Kwara Disburses N1.7b For Projects
Technology5 months ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN
Feature/OPED1 year ago
Davos was Different this year
Economy3 years ago
FAAC: FG, States, LGs Share N655.18b in January
Economy2 months ago
MBA Forex Blames CBN for Inability to Return Investors’ Funds
General2 years ago
Ikeja Electric Explains How to Get Prepaid Metres via MAP
Banking3 years ago
Sort Codes of GTBank Branches in Nigeria
Feature/OPED2 months ago
COVID and the Growth of Technology in Nigeria