Why NCS Exceeded Its Revenue Target in Q1

Nigeria Customs Service
  • Why NCS Exceeded Its Revenue Target in Q1

Lagos base veteran licensed customs agent, Prince Olusegun Ologbese has given an insight into the reasons why the Nigeria Customs Service (NCS) exceeded its revenue target in the first quarter of the year.

NCS which has Colonel Ibrahim Hameed Ali (retired) as the Comptroller General had in a public statement said it had not only met its revenue target for the first quarter of the year but also exceeded it.

While commending the NCS for the feat, Ologbese who is also the Chief Executive Officer of Ogbese Maritime Services Limited attributed it to the blocking of the numerous revenue leakages in the system.

According to the veteran licensed customs agent who is popularly called “Alaye” for his rich experience and vast knowledge of the freight forwarding business said the measures put in place by NCS management team has started yielding results. On assumption of office over a year ago, the Comptroller General of Customs (CGC) put this revenue blocking mechanism in place but it is only now they have started manifesting the desired results.

He stated that the feat was no surprise to those who have been following developments in the NCS High Command since President Mohammadu Buhari appointed the retired military officer as the NCS boss.

“The steadfastness of the CGC and his officers, particularly the Customs Area Controllers (CAC) who oversee NCS formations across the country also contributed immensely to these achievements”, he said.

Speaking in Lagos, Ologbese who is also the Life Patron of the Nigerian Union of Journalists (NUJ), Ondo and Ekiti Councils said: “As far as I am concerned, it is not a surprise that Customs did not only meet its revenue target in the first quarter of 2017 but also exceeded it. Since last year, the service has put in place a lot of mechanisms in place to block the loopholes where revenue often leak in the system.

“I strongly believed that it is now these measures put in place by the CGC and his management team have started yielding the results we are witnessing now. There is no doubt that we are going to witness more good results in terms of higher revenue generation by the service in the months ahead. Again, this increase in revenue can be attributed to the fact that officers and men have doubled up their efforts in three core functions of the NCS in line with the charge of the CGC. These include revenue generation, anti-smuggling campaign, and trade facilitation”.

Ologbese expressed delight that the increase in the revenue collected by the NCS is coming at a time that there was not much expectations due to the downturn in the economy.

He also noted that the NCS was achieving the feat at a time the initiatives of the service was biting harder on port users, especially importers and licensed customs agents.

The maritime expert enjoined the NCS, especially Ali and his management team not to rest on their oars as there was still room for improvement in the service delivery in the months ahead.

“They can only do this if they continue to maintain the hard work as well as ensure trade facilitation for port users, especially genuine importers and licensed customs agents”, he added.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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