Customs Rakes N2.74 Trillion Into Govt Coffers In Six Months
By Frederick Wright
The Nigeria Customs Service (NCS) has generated about N2.74 trillion revenue into the Federal Government coffers in the first half of 2024.
This mark, according to the Comptroller-General of Customs, Adewale Adeniyi, surpasses the target by 8% and marks a 127% increase over the previous year’s revenue.
The service had set a revenue target of N2.54 trillion for the period.
Adeniyi, while giving the mid-year performance report, said the key initiatives that contributed to the success were the e-auction platform, which generated over N1.34 billion, and the 90-day duty payment window for uncustomed vehicles, adding N4.37 billion to the revenue.
These measures, he said have significantly enhanced transparency, compliance, and efficiency in customs processes, underscoring the NCS’s commitment to excellence.
During the period, he said, the NCS intensified its anti-smuggling operations, resulting in notable achievements.
He gave details: “From January to June 2024, the NCS made 2,442 seizures with a Duty Paid Value (DPV) of N25.5 billion, which is 203% higher than the DPV of seizures in the first half of 2023.
“In the second quarter of 2024, the NCS made 1,334 seizures with a DPV of N17.5 billion representing a 121% increase over the first quarter of 2024.
“The top items seized include wildlife items, vehicles, arms and ammunition, foreign rice, pharmaceuticals, and narcotics, with 32 suspects in custody,” he stated.
Adeniyi said trade facilitation remains a core priority for the Customs , noting that the Service processed 620,467 Single Goods Declarations (SGDs), in the period,
reflecting a reduction of approximately 39% compared to the same period in 2023.
“Despite this decline, the NCS has implemented several key initiatives to simplify and expedite customs processes. These include reinforcement of NCS automation procedures, capacity-building programs for officers, and public-private partnerships to enhance customs clearance efficiency. These efforts are crucial for enhancing Nigeria’s trade competitiveness and supporting economic growth,” he stated.
Despite the achievements, Adeniyi said the NCS faced several challenges in the first half of 2024, including significant fluctuations in the exchange rate, a lower volume of transactions, low compliance levels among importers and exporters, and periodic downtime.
These challenges, according to him, impacted the consistency of revenue collection and overall operational efficiency.
“To address these challenges and enhance revenue collection, the NCS implemented several strategies, including real-time system auditing, post-clearance audits, verification of documents for the Pre-Arrival Assessment Report (PAAR), ensuring compliance with import guidelines, and the implementation of a pilot test for the Authorized Economic Operators (AEO) scheme.
“Additionally, the NCS has recently introduced the Advance Ruling System (ARS), a legally binding decision on classification, valuation, and rules of origin before the importation or exportation of goods. Other pragmatic measures implemented to increase revenue, despite a drop in cargo throughput, included establishing a robust framework for dispute resolution, launching Operation Whirlwind, reshuffling strategic-level officers and robust stakeholders’ engagement,” he said.
The Customs boss commended all officers for their diligence and commitment. He also acknowledges the stakeholders who have played significant roles in achieving this performance.
