Customs Revenue Collection Hit N5.7tn In One Year

Posted by African Examiner Business News, Latest Headlines Wednesday, November 13th, 2024

(AFRICAN EXAMINER) – The Nigeria Customs Service has announced a revenue collection of N5.7 trillion as of November 12, 2024.

The Comptroller-General of Customs, Adewale Adeniyi, disclosed this on Wednesday at the ongoing 2024 Comptroller-General of Customs Conference in Abuja.

According to him, the revenue exceeded its target for the year by 10 per cent.

The conference is themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose.”

“Today, I stand before you to demonstrate how our commitments in 2023 have evolved into tangible achievements.

“The pledge was comprehensive and ambitious- modernizing our processes through a one-stop solution for cargo alerts, revolutionising our ICT infrastructure, streamlining inspection procedures, and embracing automation for enhanced efficiency.

“We committed to re-aligning our free trade operations, elevating cargo integrity standards, and expanding our scanning capacities.

“Above all, we promised to usher in a new era of customs operations. One built on transparency, efficiency and genuine collaborations with our partners.

“I am pleased to announce that as of yesterday, November 12, 2024, the Nigerian Customs Service has hit its 2024 revenue target of N5.07trn.

“A total of N5, 079, 455, 88, 194, 38tn as of Tuesday has been collected.

“This expected performance projected to exceed our target by 10 per cent validates partnership-driven approach to revenue collection and trade facilitation.

Adeniyi expressed optimism about the service’s capacity to achieve more for the economy.

Discussing the service’s strides in trade facilitation, Adeniyi noted that six beneficiaries of the Authorised Economic Operators programme have been carefully selected.

He added that 21 requests have been processed under an advance ruling programme aimed at fostering quicker customs decision-making on import and export cargoes prior to their arrival at the ports.