Federal Government Moves to Automate Import Duty Exemption Certificate Processing and Issuance

Son And Key Stakeholders Collaborate To Stamp-Out False Declaration

 

Technology-enabled automation is presently known to be a key driver of process efficiency, accuracy, transparency, and credibility. It’s in view of this fact that the Federal Government has given a nod for the Import Duty Exemption Certificate (IDEC) to be automated.

In line with this new commitment by the Federal Government, The Infrastructural Concession Regulatory Commission (ICRC) has given the Federal Ministry of Finance the green-light to develop an automated Customs portal for the processing and issuance of Import Duty Exemption Certificates. However, the Ministry of Finance still requires the approval of this plan by the Federal Executive Council (comprising The President, Vice President, Ministers, and State Governors) before implementation.

 

What Items Are Covered?

Depending on Customs’ assessment and discretion, the following items may fall under the exempted items list:

  • Agricultural machinery and parts
  • Construction machinery and parts
  • Diplomatic goods
  • Personal effects for people who have been outside Nigeria for about six to nine months etc.

 

The implication of An Automated IDEC Process

The Director-General of ICRC, Engineer Izuwah said that the IDEC project was a very laudable one and of great and urgent importance to enable the country to cut the huge revenue loses to the tune of over N2 trillion due to manual processes. Apart from this important justification, an automated process will ensure that:

  • The tracking and control of Exemption Certificates will become easier and seamless
  • Make the monitoring of user company performance easier to do
  • Better integration with the Nigerian Customs system and block revenue leakages

Meanwhile, Forecore Technology Solution Limited has been selected as the preferred partner to develop, deploy, manage and transfer the automated IDEC for a 10-year concession period.

 

The next most important step is approval by the Federal Executive Council and implantation of the system by the responsible stakeholders. While this is being expected to happen soon enough, we can all hope that the automation of the IDEC process will achieve and sustain the objectives and perceived benefits of its establishment.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *