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Customs Generate ₦21.4bn Q1’23

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CEM REPORT, FINANCE | The Murtala Muhammed Airport (MMA) Command of the Nigeria Customs Service (NCS) generated a total sum of ₦21.4 billion in revenue in the first quarter of this year (Q1’23).

This is a 21.97 per cent increase from the ₦17.5 billion generated in the corresponding period of 2022.

The command stated that goods worth ₦100.93 billion were exported from Nigeria to other countries in the review period.

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According to Mohammed Yusuf, the Customs Area Controller (CAC), the exported goods included non-commercial and commercial foods weighing a total of 653 tonnes and a Free On Board (FOB) value of N4.81 billion.

“It is pertinent to note that in the corresponding period of 2022, the command generated N17.5 billion, which shows a progressive difference in the sum of N3.8 billion, depicting a 21.97 per cent increase.

“It is worthy to note that the revenue activities of the command comprise the importation and exportation of legitimate goods under the ECOWAS Trade Liberalisation Scheme (ETLS).”

[READ ALSO] Smugglers to Pay Fine Up To ₦20 Million in Amended Customs Act

The CAC noted that the command is working hard to promote export businesses to boost forex earnings for the country.

He emphasized that the command had kept an open-door policy and had worked with concerned stakeholders to find solutions to many issues of shared interest in the field of stakeholder engagement.

He thanked respected partners in the clearing value chain for their continuous support and urged them to constantly be prepared for new challenges as they cooperate to advance the country.

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