The Nigerian Association of Master Mariners has stated that the Federal Government’s Trade Modernisation Project will promote faster cargo clearance at the country’s ports.
This was disclosed in a statement by the President of NAMM, Captain Tajudeen Alao on Friday, according to The Punch.
Alao stated that the project would raise locally generated money and increase the country’s global visibility.
It was earlier reported On May 30, 2022, the Federal Government and Trade Modernisation Project Ltd inked a 20-year concession deal to deliver best-in-class technology for implementing paperless customs in the Nigeria Customs Service operations.
It noted that the world had moved beyond conventional methods of doing business with the advancement of technology.
He said “More than 30 years ago, when Singapore grew from a third-world country to a first-world country, the President, Mr Lee Kuan Yew, led the drive for technology awareness, and now look at where Singapore is today in terms of technology.
“So, Nigeria must make more efforts to keep abreast with technological advancements worldwide.”
According to Alao, the Trade Modernisation initiative will add value to IGR by improving customs clearance procedures.
“Consider the time when we had to carry files around; now everything is done through ICT. Nigeria must modernize, and I am glad this initiative is underway,” he said.
The General Manager of the Trade Facilitation Project, Mr Ahmed Ogunshola outlined the multiple benefits received by a nation when the Customs Modernization Project is fully automated.
He noted that TMP automates the Nigeria Customs Service’s business procedures.
Ogunshola stated that the project would simplify and improve the experience of stakeholders in the trade value chain, making it easier to get import and export clearances, pay customs, and release goods.
In addition, he said that the project’s main advantage was a huge increase in the federal government’s revenue.
“The project would generate more than $250bn for the Federal Government over the life of the concession.
“The project will bring Nigeria to par with the rest of the world, in terms of deploying technology to facilitate international trade,” Ogunshola expounded.
