The Federal Executive Council (FEC) has approved N20b for the Nigeria Customs Service (NCS) to procure compressed natural gas (CNG) vehicles, construct forward bases in remote areas, and provide life insurance coverage for officers.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the approval on Monday while briefing State House correspondents after the FEC meeting, presided over by President Bola Ahmed Tinubu at the State House, Abuja.
The Federal Executive Council has approved ₦20bn for Nigeria Customs Service to procure CNG vehicles, build forward bases in remote areas and fund a ₦1bn life insurance policy for officers. The move aims to enhance security operations and officer welfare. pic.twitter.com/OaWk7p8nBl
— Voice of Nigeria (@voiceofnigeria) February 4, 2025
He stated that the package includes N1 billion life insurance policy for Customs officers, aimed at enhancing their welfare and providing financial security for their families.
“The Customs came with some N20 billion worth of important projects and procurements, CNG vehicles and some construction and furnishing of facilities, particularly the forward bases in the remote areas.
“Also, about N1 billion worth of financing for life insurance; it’s a group life insurance policy, of course, which is implemented by underwriters and brokers. So we have two transactions for Customs,” he said.
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During yesterday’s Federal Executive Council, approval was given to a memo seeking funding for initiatives under the Health Sector totaling $1.070bn.
Another N20 billion was approved for customs as they ramp up efforts towards ensuring the sustainability of the CNG Initiative. pic.twitter.com/AvXYa5BiFY
— Daddy D.O (@DOlusegun) February 4, 2025
Meanwhile, the Minister of Transportation, Sa’idu Alkali, said FEC has approved $45,303,000 for a detailed feasibility study and engineering design for a new transportation route alignment for the four Western seaports.
According to Alkali, the initiative aims to enhance economic growth by linking western ports to the hinterland, thereby increasing GDP and economic activity.
“You are all aware transportation is one of the key priority areas of President Tinubu’s administration, and it is an enabler of economic growth. So the Federal Executive Council has approved a detailed feasibility study and engineering design of a proposed route alignment from Badagry Deep Seaport to Tincan, Tincan to Apapa, Lekki Seaport to Ijebu-Ode and Kajola. It is at Kajola that it will connect with the Lagos to Kano to Maradi Railway Modernisation project.
“The idea is to link the western port to the hinterland. As it is, we have only Apapa Port that is linked with a red line. We have a standard gauge inter-APMT terminal in Apapa, which we are using for freight from Lagos to Ibadan and we have the old narrow gauge that was rehabilitated; we have put it into use for freight from Lagos to Kano.
“So by the time we are able to link all four seaports at the Western Corridor to the hinterland, it will further grow our GDP and enhance our economic activity. The contract was awarded at the cost of $45,303,000,” he said.
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