Customs Generates ₦1,347trillion, Seizes 572 Goods, Detains 22 Suspects In First Quarter

Customs Generates ₦1,347trillion, Seizes 572 Goods, Detains 22 Suspects In First Quarter

 

By Adetokunbo FAKEYE

 

 

The Nigeria Customs Service, NCS, in the first quarter of 2024, has demonstrated remarkable performance in revenue collection with total revenue collection of ₦1,347,675,608,972.75.

The Service Comptroller-General, Bashir Adewale Adeniyi MFR, who disclosed this during the first of the series of quarterly press briefing sessions on Wednesday, 3rd of April, 2024 said, the collection for the first quarter represents a substantial increase of 122.35% compared to the same period last year, where ₦606,119,935,146.67.

According to him, month-by-month analysis further illustrates the Service’s impressive growth trajectory. “In January 2024, revenue collection surged by 95.60%, reaching ₦390,824,148,326.55 from ₦199,809,974,327.52 recorded in January 2023.

“This upward trend continued in February 2024, with a staggering 138.68% growth, elevating revenue collection to ₦450,209,267,557.15 from ₦188,625,011,386.87 in February 2023. By March 2024, the revenue collected by NCS revenue grew by 132.76% from ₦217,669,949,432.28 to ₦506,642,193,019.05.

“When compared to the Federal government’s annual revenue target of ₦5.07 trillion for the NCS to collect in 2024, the target translates to a monthly revenue target of ₦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 ₦78,675,608,972.75 over the set quarterly target of ₦1.269 trillion”, CGC stated.

In the efforts to suppress smuggling in the period under review, NCS recorded a total of 572 seizures, encompassing various items valued at ₦10,593,099,654.50 in Duty Paid Value (DPV).

Notably, January, Adeniyi declared, saw 111 seizures amounting to ₦842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totalling ₦3,704,703,350.34.

Rice, he stated 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 the period, the NCS detained 22 suspects, and appropriate legal measures will be taken in accordance with the Nigeria Customs Service Act 2023.

“Trade facilitation remains a central focus of the NCS operations. Despite inherent challenges, we have diligently worked towards streamlining processes, minimizing bottlenecks, and optimizing efficiency across our ports to ensure seamless trade transactions. In First Quarter 2024, the NCS processed a total of 311,492 Single Goods Declarations (SGDs) for imports, reflecting the volume of import transactions handled. This figure indicates a decrease compared to the total volume of 327,491 processed in 2023 and 403,233 SGDs in 2022.

“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”, CGC Adeniyi said.

“A myriad of deliberate factors have contributed to the successes around NCS key performance indicators. It is important to acknowledge the dedication and efforts of the officers and men of NCS who have worked tirelessly and around the clock to ensure consistent and upward momentum. NCS officers have played a key role in driving the implementation of initiatives, as evidenced by our performance across the three core statutory responsibilities set by the government. Among these initiatives is the introduction of the E-auction generating a total revenue of NGN 1.6 billion in February and March.

“Furthermore, stakeholders from both the private and public sectors have played an instrumental role in our recorded successes. Their commitment and enthusiasm towards our objectives have been commendable, especially in adhering to the terms of various Memoranda of Understanding (MOUs) during bilateral engagements and larger forums like the National Trade Facilitation Committee. Additionally, significant commitments were documented at the last Comptroller-General of Customs (CGC’s) Conference, notably enshrined in the Lagos Continental Declaration, highlighting the collective effort and collaboration towards our shared goals”, he stated.

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