Customs generates N1.293tr revenue in first half of 2022
Nigeria Customs Service (NCS) has generated N1.293 trillion in the first six months of 2022 into the Federation Account.
Public Relations Officer (PRO) of the NCS, Timi Bomodi, a Deputy Comptroller, disclosed this at a media briefing in Abuja at the weekend, saying the amount was an increase compared to N1.004 trillion generated in the corresponding period of 2021.
He said the amount surpassed its achievements for 2021 by N48 billion, accounting for 28.8 per cent, adding the revenue generation was remarkable, given the fact that only 116, 691 Pre-Arrival Assessment Reports (PAARs) were issued against the 129, 667 processed within the same period of last year.
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“Our half year scorecard comprehensively captures our activities from January to June 2022. The revenue target given to the Nigeria Customs Service for the year 2022 is N3.019 trillion, exceeding the target for 2021 by 80.78 per cent. As it has become customary, the service remains focused and steadfast in its commitment to meeting the challenges of the moment. It is fully confident in its ability to innovate and adapt to a dynamic socio-economic environment,” he said.
Bomodi said N156 billion was also generated into the non-federation account as collections on behalf of other government agencies.
While giving a breakdown of the amount generated within the period under review, he said the figures was generated from excise, industrial incentives from free trade zones and anti-smuggling activities, among others.
On excise, free trade zones and industrial incentives, Bomodi said excise duty was tax levied on the manufacture, sale and consumption of goods under excise control.
Bomodi, who said the amount was collected through the 22 commands of the service, noted that N68 billion was collected from manufacturers of alcoholic beverages, as well as cigarettes and tobacco, among other products.
“In the month of June, the service began collections from extant traders producing carbonated and sugary drinks newly added under schedule five of the CET. So far, the service has collected more than one billion Naira from carbonated and sugary drinks in the month of June.
“Other revenues from telecommunication, like call and data and digital network services are yet to be collected. The service is expected to start collecting revenue on these products and services as soon as the modalities for collection are put in place. Duties from these revenue sources are expected to boost our collections in the current year,” he said.
Bomodi also said of the 42 free trade zones in the country, only 25 were active with 15 of them operating in Zone A, four in Zone B, five in Zone C and one in Zone D.
He pointed out that in addition to providing employment opportunities for Nigerians, the special economic zones were expected to engender transfer of technology and building of local capacity, among benefits.
On enforcement and anti-smuggling, Bomodi said in the period under review, various goods with total Duty Paid Value (DPV) of N39 billion were seized due to policy infringements, adding that narcotics and other illicit drugs with DPV of N8.8 billion were among the top seven items seized, followed by foreign parboiled rice with DPV of N8.3 billion, among other collections.