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Market Digest Nigeria

Economy

Customs generates revenue of N1 trillion

Customs generates revenue of N1 trillion in H1 2021

The Nigeria Customs Service (NCS) announced it generated a revenue of N1.003 trillion for the first half of the year.

This was disclosed in a statement by Customs Public Relations Officer, Joseph Attah on Thursday in Abuja, according to the News Agency of Nigeria.

The statement revealed that the sum was earned from January to June 2021, a gain of N290.2 billion, compared to N713.5 billion generated within the same period in 2020.

“Hitting the trillion-naira mark within six months is unprecedented in the Service. This feat is as a result of the resolute pursuit of what is right and willingness to adapt to changes brought about by global health challenges occasioned by covid-19.

“The Service revenue profile continues to be on the increase due to ongoing reforms that exploit the potentials of technology.

“This is possible through robust automation of the processes and procedures, and also the deployment of officers strictly based on the Standard Operating Procedure,” Attah said.

He added that robust stakeholder sensitisation resulting in more informed/voluntary compliance, as well as an improved working relationship with the National Assembly, enabled more standard operating procedures in the operations.

“As stated by the CGC earlier in the year, it is always the desire of the Service to generate more revenue than what is set for it, given a favourable environment.

“NCS will always be willing and happy to break its records as it is in this case of over one-trillion naira in 6 months,” he said.

He also revealed that Customs made a total number of 2,333 assorted seizures with duty paid value at N4.4 billion. Seized items include arms and ammunition, illicit drugs, and food items like rice, vegetable oil, and others.

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