FG Okays Electronic Cargo Tracking System to Curb Crude Oil Theft
The Federal Executive Council meeting presided over by President Muhammadu Buhari, on Wednesday, ratified a resolution to procure electronic cargo tracking devices for port operations in the country.
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 device would in no small measure aid port operators 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 Autisa 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.
Sambo, who briefed State House Correspondents on some of their 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 [on] issues of concealment [and] wrong calculation for cargoes,” Sambo noted.
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