Economy
THE Nigeria Customs Service (NCS) says it has recorded a 127 per cent increase in revenue in the first half of 2024 compared to 2023.
The service’s National Public Relations Officer, Abdullahi Maiwada, made this known in a statement on Monday in Abuja.
Maiwada said the service’s Mid-Year Performance indicated remarkable success in the first half of 2024.
“ With a half-year revenue target of N2.54 trillion, the service has collected N2.74 trillion, surpassing the target by eight per cent and marking a 127 per cent increase over the previous year’s revenue.
“N1.395 trillion was collected for the second quarter, exceeding the quarterly target by 10 per cent and representing a 131 per cent increase over Q2 2023,” he said.
Maiwada said that the key initiatives that contributed to the feat included its e-auction platform, which generated more than N1.34 billion.
He added that the 90-day duty payment window for uncustomed vehicles added N4.37 billion to the revenue.
According to Maiwada, these measures have significantly enhanced transparency, compliance, and efficiency in customs processes, underscoring the NCS’s commitment to excellence.
He said that during the period under review, the service intensified its anti-smuggling operations, recording 2,442 seizures with a Duty Paid Value (DPV) of more than N25 billion from January to June 2024.
The customs spokesman said that the figure was 203 per cent higher than the DPV of seizures in the first half of 2023.
“ In the second quarter of 2024, the NCS made 1,334 seizures with a DPV of N 17,564,384,378, representing a 121 per cent increase over the first quarter of 2024.
“ The top items seized include wildlife items, vehicles, arms and ammunition, foreign rice, pharmaceuticals, and narcotics, with 32 suspects in custody,” Maiwada said.
He said the NCS processed 620,467 Single Goods Declarations (SGDs) in the first half of 2024, reflecting a reduction of approximately 39 per cent compared to the same period in 2023.
“In spite of this decline, the NCS has implemented several key initiatives to simplify and expedite customs processes.
“ These include reinforcement of NCS automation procedures, capacity-building programs for officers, and public-private partnerships to enhance customs clearance efficiency.
“ These efforts are crucial for enhancing Nigeria’s trade competitiveness and supporting economic growth,” Maiwada said.
According to the spokesperson, the NCS faced several challenges in the first half of 2024, including significant fluctuations in the exchange rate.
Others were lower volume of transactions, low compliance levels among importers and exporters, and periodic downtime.
Miawada said the challenges affected the consistency of revenue collection and overall operational efficiency.
He further explained that, to address these challenges and enhance revenue collection, the NCS implemented several strategies.
They included real-time system auditing, post-clearance audits, and the verification of documents for the Pre-Arrival Assessment Report.
Maiwada added that other strategies deployed included ensuring compliance with import guidelines and implementing a pilot test for the Authorised Economic Operators (AEO) scheme.
The spokesperson said that the NCS recently implemented measures aimed at achieving its constitutional duties.
They included: The Advance Ruling System (ARS), inaugurating Operation Whirlwind, reshuffling strategic-level officers and robust stakeholders’ engagement.
Maiwada said that NCS Comptroller General (C-G) Adewale Adeniyi, has acknowledged the commitment and diligence of its personnel.
He quoted the C-G as reaffirming the service ‘s resolve to support the realisation of government policies, particularly the policy direction of President Bola Tinubu’s administration for a better Nigeria. (NAN)
29th July, 2024.
C.E.
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