BusinessUpdate

FiBOP Workshop 2024 : Nigerian Customs Service Records Over N4.29 trillion Revenue In 9 Months

By update Oct 23, 2024 #Cover
L-R: Deputy President, Maritime Workers Union of Nigeria, MWUN , Comrade Udoh; Chairman, Vindi Petroleum, Mr. Victor Kalu; President, FiBOP, Mr. Charles Onwuatogwu ; representative of the CG Nigeria Customs, Comptroller Dera Nnadi and Secretary MWUNL-R: Deputy President, Maritime Workers Union of Nigeria, MWUN , Comrade Udoh; Chairman, Vindi Petroleum, Mr. Victor Kalu; President, FiBOP, Mr. Charles Onwuatogwu ; representative of the CG Nigeria Customs, Comptroller Dera Nnadi and Secretary MWUN

L-R: Deputy President, Maritime Workers Union of Nigeria, MWUN , Comrade Udoh; Chairman, Vindi Petroleum, Mr. Victor Kalu; President, FiBOP, Mr. Charles Onwuatogwu ; representative of the CG Nigeria Customs, Comptroller Dera Nnadi and Secretary MWUN
L-R: Deputy President, Maritime Workers Union of Nigeria, MWUN , Comrade Udoh; Chairman, Vindi Petroleum, Mr. Victor Kalu; President, FiBOP, Mr. Charles Onwuatogwu ; representative of the CG Nigeria Customs, Comptroller Dera Nnadi and Secretary MWUN

The Nigerian Customs Service (NCS) says the revenue collection efforts of the body has yielded very impressive results.

Speaking at the Finance and Business Online Publishers, FiBOP, Capacity Building Workshop held over the weekend in Lagos, Comptroller General of the Nigerian Customs, Bashir Adewale Adeniyi revealed that revenue collection in the 9 months of year 2924 improved significantly

According to him the NCS recorded a significant milestone of over N4.29 trillion in revenue collection in the period from January to September 2024.

This impressive feat surpasses the total revenue collected in 2023, which stood at N3.21 trillion.

The Comptroller General of Customs, Bashir Adewale Adeniyi who was represented by the Customs Area Controller of the Tin Can Island Port Command of the Service, Comptroller Dera Nnadi, explained that by this performance, the NCS has already achieved approximately 80% of its annual revenue target of N5.3 trillion for 2024, with three months remaining to year end..

He attributed the success to the NCS’s strategic deployment of digital technology, digitalization, ICT transformation and innovation in its business processes.

Comparing the current year’s revenue to previous years, the NCS boss said it generated a total of N2.6 trillion in 2022 and N3.21 trillion in 2023, insisting that the improvement in revenue collection demonstrates the effectiveness of the Service’s deployment of ICT tools and digital infrastructure as key factors contributing to the revenue growth.

The strategic importance of digital infrastructure in import duty collection and accountability he noted, cannot be overemphasized .The NCS Modernisation Project, AEO Program, and Advance Ruling System are a testament to Its commitment to creating a more efficient and transparent customs environment. By fully embracing digital solutions, the NCS has enhanced revenue collection, streamlined customs operations, and improved Nigeria’s standing in the global trade community. Adeniyi further stated.

While maintaining that the NCS’s commitment to digital transformation and innovation has enabled it to achieve this remarkable revenue growth in 2024, Adeniyi revealed that the adoption of digital infrastructure has enhanced transparency and accountability in import duty collection which also received a boost from government’s efforts to promote exports.

As the NCS continues to leverage technology to improve its operations, it is likely to achieve higher revenue targets and contribute significantly to the country’s economic development, he said.

By update

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