Nigeria Customs Services Generates N1.03trn Revenue In 2017


The Nigeria Customs Service (NCS) generated N1.03 trillion in 2017, surpassing its target of N770.5 billion for the year.

Joseph Attah, National Public Relations Officer of NCS, made this known at a news conference in Lagos on Thursday.

Five working days to the close of 2017, Attah had announced the generation of N1.01 trillion revenue which was above the service target of N770.5 billion for last year.

He said that the service also surpassed the revenue of N898.6 billion generated in 2016.

Attah said that some Nigerians had compared the 2017 revenue generated to that of 2014 which was N977 billion.

He said that depreciation in naira value had led to the increase in revenue collected in 2017 compared to what was collected in 2014.

Attah said that it was imperative to state that such comparison could only be valid if the volume of trade and tariff remained the same between 2014 and 2017.

“In 2016 and 2017, the service experienced economic recession with 41 items removed from accessing forex.

“Data reveals that though the volume of imports declined, collection per volume increased. For example 956,574 vehicles were imported in 2014; 558,517 in 2015 and 451,507 in 2016 but in 2017 a total of 399,556 vehicles were imported. Duty collected were N122 billion, N111 billion and N137 billion, respectively.

“This was possible because of strict deployment of digital identification method which enables officers to identify consignment such as vehicles using the mandatory vehicle identification number (VIN).

“‘Declarations on vessels increased drastically in 2017 due to the use of digital application to locate vessels on Nigeria waters and request for payment of appropriate duties as data of the vessels are available through the digital platform.

“‘The enforcement of fiscal policies of 2017 led to the decrease in the average duty rate. The average duty rate which used to be 12.54 was reduced to 11.1 due to the lowering or total removal of duty rates for national projects such as agricultural projects. For example:

“Prefabricated agricultural green house from 20% to 0%; agricultural machinery from 10% or 5% to 0%; the automotive industry project (SKD) vehicles from 35% to 5%) and concession of one SKD to two fully-built unit (FBU) cleared without payment of 35% levy.

“With the reduction in the average duty rate, a decline in revenue could have occurred but for due diligence, tax collection per unit was increased by 15%.

“It was under this challenging time in 2017 that NCS collected the highest revenue ever for the Federal Government.”

He said that in spite of 252,666 bags of rice given to Internally Displaced Persons (IDPs), the NCS warehouses across the country were still filled with rice.

Attah said that one of the warehouses was now awaiting court order for forfeiture to the Federal Government.

Post Comment