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Customs generates N466bn revenue in Q1 2021

Customs generates N466bn revenue in Q1 2021
April 20
12:33 2021

The Nigeria Customs Service (NCS) says it generated N466 billion revenue in the first quarter of 2021 (Q1 2021).

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This is according to data made available to NAN on Tuesday by Joseph Attah, public relations officer of the service.

A breakdown showed that the NCS recorded the highest revenue in March with N169.4 billion, followed by January with N157.6 billion while the sum of N138.9 billion was generated in February.

According to the data, the NCS raked in N216.9 billion as revenue from import duty within the first three months of the year.

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This is followed closely by N105.2 billion realised from value added tax (VAT) and about N55.5 billion from non-federation accounts levies.

Similarly, N50.8 billion was gotten from federation account levies, N34.5 billion was realised from excise duty while N2.8 billion was generated from fees.

The NCS said between January and March, it seized different contraband goods valued at N1,996,145,258.

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It also confiscated 37,206 bags of imported rice during the period under review.

Recently, the house of representatives committee on customs and excise raised the revenue target for the NCS in the 2021 financial year by N214 billion to N1.679 trillion.

The revenue target was set for the NCS in 2020 before the coronavirus outbreak resulted in a downward review of the target.

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