Economy

Customs Realises N446.1 Billion Revenue in Q1 2021

The Nigeria Customs Service (NCS) realised N466.1 billion in revenue in the first quarter (Q1) of 2021, according to the latest data from the Public Relations Officer, NCS, Mr. Joseph Attah.

The data showed NCS realised N157.6 billion in January; N138.9 billion in February and N169.4 billion in March 2021.

A further breakdown showed the agency generated N216.9 billion of the total amount from import duty, while N105.2 billion was realised as Customs VAT and N55.5 billion was generated as a non-federation accounts levies.

Another N50.8 billion was generated from federation account levies while N34.5 billion was gotten from excise duty as well as N2.8 billion from fees.

Similarly, the data showed that within the period under review, the service made a seizure of different contraband goods valued at N1,996,145,258.
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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Samed Olukoya
4 years ago

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