Tuesday, Aug 11th 2020 6:45 AM

Market Digest Nigeria


Nigeria Custom Service Records N1.002 trillion Revenue in 9 Months

The Nigeria Custom Service (NCS) said it realised revenue of N1.002 trillion between January and September 2019.

The revenue was generated from import duty, levy, excise duty and other fees. Customs record obtained in Abuja on Monday shows that the highest revenue recorded was N123.6 billion in July, closely followed by N118.6 billion realised in May.

The information further revealed that the month of February had the lowest revenue of N86.3 billion.

There are speculations that the low revenue collected in February might be as a result of the partial closure of the border for the 2019 general elections slated for that period.

The data further revealed that Apapa area command had the highest revenue of N313.5 billion within the period under review. The NCS collected a total of N1.2 trillion in 2018.

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