ZAINAB JUNAID
The Nigeria Customs Service(NCS) has reported a total revenue collection of one trillion, three hundred and forty seven billion, six hundred and seventy five million, six hundred and eight thousand, nine hundred and seventy two naira, seventy five kobo only (NGN1, 347,675,608,972.75) into government coffer in the first quarter of 2024.
This indicates a cumulative revenue collection of 18.6%, equivalent to NGN78,675,608,972.75 over the set quarterly target of NGN1.269 trillion for the first quarter of 2024.
Speaking at a press briefing held at the Service Headquarters, Abuja, on the activities and performance of NCS over the preceding quarter, the Comptroller General of Customs, Bashir Adewale Adeniyi disclosed this saying the revenue collected for the first quarter represents a substantial increase of 122.35% compared to the same period last year, where NGN 606,119,935,146.67 was recorded.
The CGC said the revenue collected in January 2024, surged by 95.60% reaching NGN 390,824,148,326.55 from NGN 199,809,974,327.52 generated in January 2023.
According to him, the upward trend continued in February 2024, with a staggering 138.68% growth, elevating revenue collection to NGN 450,209,267,557.15 from NGN 188,625,011,386.87 recorded in February 2023.
“By March 2024, the revenue collected by NCS grew by 132.76% from NGN 217,669,949,432.28 to NGN 506,642,193,019.05.
“When compared to the Federal government’s annual revenue target of NGN 5.07 trillion for the NCS to collect in 2024, the target translates to a monthly revenue target of NGN 423 billion. We are pleased to report an average monthly revenue growth of 6.2% over the set monthly target and a cumulative revenue collection of 18.6%, equivalent to NGN 78,675,608,972.75 over the set quarterly target of NGN 1.269 trillion,” he added.
On anti smuggling, the CGC disclosed that Nigeria Customs made 572 seizures translating to a Duty Paid Value of Ten billion, five hundred and Ninety three million, Ninety nine thousand, six hundred and fifty four naira, fifty kobo only(NGN10,593,099,654.50).
“Notably, January saw 111 seizures amounting to NGN 842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totalling NGN 3,704,703,350.34. Rice constituted 39% of the seizures, followed by petroleum products at 26%, with motor vehicles and textiles accounting for 9% and 6% of the seizures, respectively. During this period, the NCS detained 22 suspects, and appropriate legal measures will be taken in accordance with the Nigeria Customs Service Act 2023,” he said.
On trade facilitation that remains a central focus of the NCS operations, the Service helmsman affirmed that Nigeria Customs Service processed a total of 311,492 Single Goods Declarations (SGDs) for imports in first quarter of 2024, reflecting the volume of import transactions handled.
“Although this figure indicates a decrease compared to the total volume of 327,491 processed in 2023 and 403,233 SGDs in 2022, we have diligently worked towards streamlining processes, minimizing bottlenecks, and optimizing efficiency across all ports to ensure seamless trade transactions.
“Regarding export transactions, a total of 10,786 SGDs were processed in 2024 compared to 9,752 transactions in 2023, representing a 10.60% growth in export activities. Notably, a significant portion of this growth occurred in January, with 4,067 transactions processed in 2024 compared to 3,352 SGDs in 2023, marking a 29.69% increase. The Service is particularly interested in the growth of the non-oil export sector, aligning with the priorities of the President Bola Ahmed Tinubu led administration and the initiatives pursued by NCS in recent times,” he said.
