The Nigerian House of Representatives says it will continue to provide legislation that would ensure that government institutions are well equipped and guided to deliver on their mandate.
Speaker Femi Gbajabiamila made the remark at a one-day public hearing on the need to resolve the impasse between the CBN and Adani Mega System Ltd over the E-Customs project.
Mr. Gbajabiamila represented by the Deputy House Leader, Mr. Peter Akpatason said the success of any policy depends entirely on the effective and efficient implementation of such policy which can only be achieved through mutual agreement and understanding between the key players.
“Surviving the present challenges require that we continue a government programme of sustaining investment in public infrastructure whilst doing whatever that is possible to encourage private enterprise and private investment, industry services and innovation.
It also requires that we ensure that those government’s agencies which operations directly impact on the country’s economy operate effectively and efficiently.” Mr. Akpatason added.
Earlier the Chairman House Committee on Customs and Excise, Mr. Leke Abejide expressed concern that non- implementation of the government’s E-Customs Policy has denied Nigeria huge amounts that could be used to fund the nation’s annual budget.
Mr. Abejide explained that the House would not fold its arms while the revenue due for the country was wasted, promising that the House is ready to partner the Executive arm to achieve the objective of the policy.
“This joint committee appreciates your openness to let us know where to come in to ensure the obstacles are done away with to allow the project commence in earnest so as to reduce to the barest minimum the issue of borrowing money to fund our National Budget yearly.
Averagely, the sum of $8.810b will be generated yearly from the implementation of the project which I believe shall be more if properly implemented and this will go a long way to reduce our vulnerability to external debt.” Mr. Abejide explained.
In their separate presentation, the Ministry of Finance and Nigerian Customs said Adani Mega System does not have capacity to handle the project hence the cancellation of the project.
They said that misrepresentation and material breaches by the company affected its sincerity to execute the project and that three cases are before court on the matter claiming unlawful termination of the contract.
It was estimated that Nigeria would generate over One Hundred and Seventy-Six Billion Dollar from the E-Customs alone if it became operational.
