The Federal Executive Council meeting presided over by President Muhammadu Buhari, on Wednesday, ratified a resolution to allow the Nigerian Shippers’ Council implemented the controversial electronic cargo tracking note.
At the meeting chaired by President Muhammadu Buhari, the cabinet members deliberated on the memo presented by the Minister of Transportation, Mu’azu Jaji Sambo, where he affirmed that the cargo tracking note will contribute in detecting under-declaration of goods meant for import or export, ensure accurate invoicing, concealment, wrong calculations and other dubious practices within the port corridors.
According to the Minister, the facility is to be deployed by a Belgium firm in conjunction with other indigenous firms in Nigeria at no extra cost to the government.
He disclosed that when fully operational, it is expected to shore up the revenue base of government from $90 million to $235 million per annum. He, however, did not specify the revenue stream in question.
Sambo, who briefed State House Correspondents on some of the deliberations at FEC, noted that the device, when installed, would also instil a regime of effective tracking of crude oil export, by eliminating oil theft, which in recent times has become rampant.
“We are looking at installing electronic cargo tracking device which will take care of under-declaration, and secure our export and import cargo invoicing. Ghana, Benin Republic and a number of other countries are already using it and they have all recorded improvement in their port services, especially issues of concealment and wrong calculation for cargoes,” Sambo noted.
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