Customs Generates N1.2 Trillion In Six Months

14 Aug Customs Generates N1.2 Trillion In Six Months

Nigerian Custom Service (NCS) has generated about N1.292 trillion revenue into the federation account between January and June, 2022.

The NCS in its half-year performance report released on Saturday, said the amount generated surpassed the achievements of the Customs last year by N289,364,116,786 or 28.83%.

The National Public Relations Officer of the Customs, Deputy Comptroller Timi Bomodi added that this is even more remarkable given the fact that only 116,691 Pre-Arrival Assessment Reports (PAARs) were issued against 129,667 processed in the same period of 2021.

He stated that a total of N156,315,758,646.18 was also generated into the non-federation account as collections made on behalf of other government agencies.

On excise duty being tax levied on the manufacture, sale and consumption of goods under excise control was collected through 22 commands of the service he said “A total of N68,015,808,146.61 was collected from manufacturers of beer, spirits and other alcoholic beverages, cigarettes and tobacco among other products from January to June, 2022.

“Also in the month of June, the Service commenced collections from extant traders producing carbonated and sugary drinks newly added under schedule 5 of the CET. So far, the Service has collected from carbonated and sugary drinks more than one billion Naira in the month of June.

“Other revenues from telecommunication (call and data), and digital network services are yet to be collected. NCS is expected to start collecting revenue on these products and services as soon as the modalities for collection are put in place. Duties from these revenue sources are expected to boost our collections in the current year.

“Of the 42 Free Trade zones in Nigeria only 25 are active, with 15 of them operating in Zone ‘A’, 4 in Zone ‘B’, 5 in Zone ‘C’ and 1 in Zone ‘D’. in addition to providing employment opportunities for Nigerians, these Special Economic Zones are expected to engender the transfer of technology, help build local capacity, provide viable market for other local producers of raw materials and increase the quality of goods which can potentially be available in the local market on the payment of relevant duties and taxes.

On enforcement and anti-smuggling he said ” there have been remarkable interventions in the anti-smuggling activities of the Service. In the period under review various goods with a total Duty Paid Value (DPV) of N39,174,678,983.00 were seized due to regulatory and policy infringements.