FEC approves N1.6bn for anti-smuggling vehicles

The Federal Executive Council (FEC) on Wednesday approved N1.6 billion for 68 anti-smuggling vehicles.

This was disclosed by the Minister of Finance, Kemi Adeosun, while briefing State House correspondents at the end of FEC meeting chaired by President Muhammadu Buhari at the Presidential Villa, Abuja.

She said the memo approved was on behalf of the Nigerian Custom Service anti-smuggling task force.

According to the minister, FEC also approved Value Added Tax (VAT) exemptions for private properties and reduction of taxes for Small and Medium Enterprises (SMEs).