Customs service revenue surges 66.5% in four months

Bisola David
Bisola David
Kaduna customs hits N16.3bn revenue in 2023

The Nigerian Customs Service has said that, in the four months from July to October 2023, revenue collection increased by an amazing 66.5%.

The Times reported that the statement was made on Wednesday in Abuja at a national workshop on legislative compliance with the topic “The imperatives of legislative compliance in deepening democracy and good governance,” by the Comptroller-General of the Nigeria Customs Service, Mr. Adewale Adeniyi.

In the first half of the year, the service brought in an average of N202 billion in income, but by October, Adeniyi claimed that the monthly revenue had increased to N333.9 billion, indicating a 65.5% rise.

The partnership between the Nigeria Customs Service and the National Assembly resulted in the evaluation and improvement of tariff structures and rules, which the Comptroller-General of the service credited to the increase in revenue collection.

Adeniyi also mentioned how the NCS had made sure money was available for national development initiatives and had optimized tax collecting.

“A notable increase in monthly revenue collection has been one of our early successes.

“We are happy to report that, in contrast to past results, we have continuously surpassed the monthly target collection of N307 billion.

“We have been able to respond to public concerns and petitions in an effective manner thanks to the combined efforts of the NCS and the legislative branch of government,” he stated.

Budgetary restrictions were one of the main problems Adeniyi brought up while discussing the difficulties facing the Customs Service and how they have affected their ability to enforce compliance.

He clarified that financial constraints have an impact on the procurement of contemporary technology as well as the planning, hiring, and training of the workforce needed for efficient enforcement.

The head of Customs Service also underlined that a lack of technology and infrastructure at border checkpoints might make it more difficult for the agency to properly examine and control trade, which would allow non-compliance.

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *