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TheCable

Customs generates N1trn — highest revenue ever

Customs generates N1trn — highest revenue ever
December 21
18:54 2017

The Nigeria Customs Service (NCS) says it generated a total revenue of N1.01 trillion in the 2017 fiscal year, the highest ever recorded by the agency.

Joseph Attah, public relations officer, NCS, disclosed this during a media briefing at the agency’s headquarters in Abuja, on Thursday.

According to him, the agency generated the record high revenue in the face of the nation’s economic recession as well as with the low volume of imports.

Attah, said the amount was collected with just five working days to the end of the 2017 fiscal year.

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TheCable had reported that the agency was set to net its highest revenue, as it recorded N486.7 billion for the first six months of 2017, even with a revenue target of N772.8 billion.

Attah said the collection for this year is N241.68bn higher than the 2017 target, which exceeded the N898.67bn collected in 2016.

He also said the key revenue drivers included anti-smuggling operations of the service, with over 4,000 assorted seizures worth over N11bn in value.

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According to him, Hameed Ali, comptroller-general of the agency had taken keen measures to restructure the service, even losing some officers along the way.

“With dogged implementation of the Presidential mandate to restructure, reform and raise revenue, Nigeria Customs Service has recorded the highest revenue collection ever of N1,012,259,006,779.94 with five more working days to the end of 2017,” he said.

“Despite this difficult situation, NCS strives to deliver, sometimes even at the risk of sustaining serious injuries and even death.

“Sadly, in the process of enforcing the laws, six officers fell in the line of duty this year.”

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