FG launches portal for import duty exemption certificates
September 12, 20191K views0 comments
Kenneth Afor, with agency report
Zainab Ahmed, Nigeria’s minister of finance says the Federal Government has procured an automated customs gateway portal for the management of Import Duty Exemption Certificates with the help of Public-Private Partnerships arrangement.
Ahmed, represented by Anita Shittu, director, human resource management in the ministry, said this at the third quarter of the PPP unit’s consultative forum meeting, Thursday in Abuja.
She added that the ministry has undertaken a Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme under the executive order 007 of 2019.
The minster reiterated that the gateway portal is to ensure that government checkmates and manages revenues accruable from import duties as well as other charges.
She said, “It would also ensure accurate duty payment, streamline the process by which import duty waivers are granted and eliminate all forms of subjectivity in the grant of fiscal incentives.
“The project has two components; the development and deployment of bespoke software for the process and the management and operations of the system.”
She added, “The software was procured directly and has been deployed to the ministry. The ministry is in the process of procuring the management and operations part of the contract via PPP arrangement.”
However, she stated that the road scheme initiative would enable private sector participants to partner with the government in reducing the infrastructural deficit in the country.
The PPP, according to her, is an intervention that would enable the Federal Government to take advantage of private sector funding for the construction or rehabilitation of roads effectively and efficiently which would create value for money with the help of the private sector.
“The scheme will also guarantee participants timely and full recovery of funds provided for the construction or refurbishment of eligible roads and road infrastructure through the grant of a tax credit,” she said.