The Nigeria Customs Service (NCS) reported a revenue collection of N333.9 billion in the last four months.
Adewale Adeniyi, the Service’s Comptroller-General, revealed this at a national training on legal compliance in Abuja.
The NCS monthly revenue climbed from N202 billion to N333.9 billion in the last four months, according to the Customs chief.
Adeniyi stated that the service generated an average income of N202 billion in the first half of the year, and that monthly revenue collection grew to N333.9 billion between July and October, representing a 65.5 percent increase.
Adeniyi went on to say that the Customs relationship with the National Assembly produced great results by reviewing and improving tariff structures and rules.
According to him, NCS was able to optimize revenue collection while also ensuring that monies were accessible for national development programs.
He noted:
“One of our early achievements has been a remarkable boost in monthly revenue collection.
“I am delighted to announce that we have consistently exceeded the monthly target collection of N307 billion, marking a remarkable departure from previous performances.
“The joint efforts of the NCS and the legislative arm of government have allowed us to respond effectively to public concerns and petitions.”
An importer, Shola Olugbenga however, advised the service to concentrate more on trade facilitation.
Olugbenga also urged the federal government to review the Customs’ exchange rate to end cargo diversion.
He said:
“It was in June that importers across the nation’s seaports began to pay more import duty for the clearance of our goods at the seaports following the decision of the Central Bank of Nigeria (CBN) to increase the official exchange rate used by the Nigeria Customs Service (NCS) to calculate import duties and levies from N422.30/$1 to N589/$1.”