Revenue from customs is expected to reach N4.1 trillion in 2022

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ADZ

The Nigeria Customs Service (NCS) claims that its revenue target for 2022 is N4.1 trillion.

In 2021, NCS reported generating N2.3 trillion in revenue, exceeding the target by N63 billion.

Last year, the FG set a revenue target for the agency of N1.67 trillion for 2021.

During a press conference in Lagos yesterday, Yusuf Malanta, customs area controller (CAC), NCS Apapa Command, revealed this.

In 2021, the command, according to Malanta, collected N870.4 billion from importers.

Furthermore, he stated that the command’s revenue profile increased by 68 percent in 2021, compared to the N518.4 billion collected in 2020.

He also stated that the Apapa command was prepared to meet the revenue target set for 2022.

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“The NCS revenue target has been raised to N4.1 trillion,” he explained.

“In Apapa Area Command, we have already boarded and secured our seats in order to achieve this revenue goal.

“We anticipate that the service will take advantage of the deployment of digital transformation of Customs business processes, as well as many control mechanisms through its risk management system.”

Malanta said that despite COVID-19, gridlock, and other challenges, they were able to exceed their target for revenue in 2021.

“Despite the enormous challenges faced in the trade supply chain, including the Covid-19 pandemic still ravaging economies around the world, high freight costs, incessant traffic gridlock, rail construction through the port, and ensuring a higher level of compliance from stakeholders, the Command was able to collect a revenue of N870,388,340,650.65 and remitted to the federation and non-federation accounts of the Federal Government between January and December 2021.”

“This clearly demonstrates that the command’s revenue profile has increased by approximately 68 percent when compared to the collection of N518.4 billion in the year 2020.”

ADM

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