Nigeria Custom Service Generates Over N95.7 Billion in August

Tincan Customs CommandNigerian Customs

The Nigeria Custom Service (NCS) generated over N95.7 billion last month, its highest revenue in a single month in almost 10 years.

According to NCS public relations unit report on its website, “The Service generated N95,760,763,642.04, a feat that points to the efficacy of the Comptroller-General’s policy thrust. The Service recorded the highest revenue in 10 years despite the Forex difficulty, low imports and general economic downturn.”

The surge in revenue has been attributed to the strong position of the Comptroller-General, Col. Hammed Ibrahim Ali (rtd) on the issues of discipline, integrity and strict adherence to customs codes and clearance procedures, the statement reads.

“Col. Hammed Ibrahim Ali (rtd) on assumption of office as the Comptroller-General of Customs August last year arrived with a three prone Presidential Mandate namely:- reform, restructure and raise revenue.”

“To achieve these, he drew his policy thrust, which harped, on honesty, integrity and transparency as bases for achieving the mandate. Starting from the Headquarters and then to all customs formations across the country.”

“Knowing that reform and restructuring are activities within the Nigeria Customs Service, while raising the much needed revenue requires cooperation and compliance from the part of stakeholders, the CGC embarked on stakeholders visitations to secure their buy into the new way of doing business with the service.

“After one year at the helm of affairs, the NCS, revenue generation profile has continued to be on the rise.

“Last month, August 2016, the service recorded the highest revenue in 10 years despite the forex difficulty, low imports and general economic downturn. The service generated N95,760,763,642.04, a feat that points to the efficacy of the CG’s policy thrust.

“The strong stance of the CG on issues of discipline, integrity and strict adherence to customs codes and clearance procedures is yielding positive results in the areas of suppression of smuggling and revenue collection.”

It should be recalled that Apapa Command of Nigeria Customs Service also announced similar success in August when it reported revenue of N35 billion – the highest monthly recorded revenue by any customs command in the country in a decade.

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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