Customs To Splash N12.5bn On Toyota SUVs, N522m On Insurance For Vehicles

The Nigeria Customs Services (NCS) has secured the approval of the Federal Executive Council (FEC) to splash the sum of N12.5bn on 200 Toyota Land Cruiser Buffalo V6 Sport Utility Vehicles (SUVs).

The service will also splash the sum of N522m to insure the vehicles.

The Insurance cover for the vehicles will be provided by NEM Insurance.

These developments were contained in the highlights of the FEC meeting held on May 13 & 14, 2024 released by Bayo Onanuga, Special Adviser, Information and Strategy to President Bola Ahmed Tinubu.

“FEC has approved the request by Nigeria Customs Service to buy 200 Toyota Land Cruiser Buffalo V6 at a cost of N12.5 billion.

All the vehicles will be CNG powered. Government also approved insurance cover for the vehicles at a cost of N522 million. The cover will be provided by NEM” he wrote on his X platform.