Federal government has stated that it lost N4.6 trillion to waivers granted to importers in 2017 and 2018.
As part of her commitment to block leakages and improve revenue base of the country, Minister of Finance, Mrs. Zainab Ahmed, has received Full Business Case Certificate of Compliance for the Import Duty Exemption Certificate (IDEC) project from Infrastructure Concession Regulatory Commission (ICRC).
The certificate of compliance was presented to the minister by ICRC Director-General/CEO, Mr Chidi Izuwah, in Abuja.
According to a statement issued yesterday by the minister’s media aide, Mr. Paul Abechi, the minister commended the director general of ICRC for expediting action on the project.
She said: “it is really a good time for me that this project that I was really particular about since I came is coming to operation.”
Ahmed urged the ministry’s staff to “take full advantage of the IDEC portal and put it into full use to enable federal government get full value for its revenues.”
Full Business Case Compliance Certificate is for the development, deployment and management of automated customs gateway portal for Import Duty Exemption Certificate under a Public Private Partnership (PPP) arrangement with Forecore Technology Solution Limited, as the preferred partner to develop, deploy, manage and transfer for a 10-year concession period.
Ahmed lamented that government has “been experiencing significant drain in revenues due to its inability to adequately control the IDEC processes.”