Finance

Nigeria Customs Generated N126.9bn Revenue in January

Published

5 years ago

February 25, 2020

Nigeria Customs Generated N126.9bn Revenue in January

The Nigeria Customs Service (NCS) kick-started the year with an impressive figure, according to a new report from the service.

The NCS generated an impressive N126,950,688,168.57 in January, N9,158,230,945.39 more than the N117,792,457 realised in the same period of 2019.

Breaking down the report, the service generated N63,640,538,493.70 from import duty while N12,816,743,134.58 and N693,833,108,311.00 were generated from excise duty and fees, respectively.

The services realised N10,833,208,311.09 from the federal account levies and another N16,888,452,679.54 from non-federation accounts levies.

Also, the report showed that the Non-Customs Service Value Added Tax was N22,078,543,230.50.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Nigeria Customs Generated N126.9bn Revenue in January

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