The Nigeria Customs Service has already hit ₦4.289 trillion revenue target from January to September, 2024, and will surpass its set revenue targets of ₦5.3trillion for for the year 2024.
This was disclosed by the Comptroller of the Nigeria Customs Service, NCS, Mr. Bashiru Adewale Adeniyi at the just concluded Finance and Business Online Publishers FiBOB 2024 capacity building workshop held at Ochidi Hotel in Ajah Lagos.
The Comptroller General who was represented by Mr Dera Mnadi, Comptroller of Tin Can Island Port, stated that the Customs have already surpassed the 2023;revenue target with over a trillion naira.
In the words of the Customs boss, “the NCS has been able to generate revenue from January to September, 2024 to the tune of Four Trillion, Two Hundred and eighty Nine Billion, Seven Hundred and thirty two Million, Four Hundred and Fifty eight Thousand, and Fifty Four naira Only (=N=4,289,732,458,054.00) while in the corresponding year, 2023, the service was able to generate a revenue sum of 3.21 Trillion as also compared to the year, 2022 when the service was able to generate the sum of 2.60 Trillion.
He continued that: “This Year-on-Year improvements on import duty collection shows a marked improvement by measures put in place by the Central Bank of Nigeria and Commercial Banks in the adoption of Digital infrastructure. This has in turn assisted the service in improving on transparency and accountability”.
Adeniyi explained that digital platforms such as the e-payment systems integrated into the NCS’s digital infrastructure allow for seamless Import duty payment and reduce revenue leakages.
He said by cutting down on bureaucratic delays and simplifying payment processes, the NCS can ensure that more revenue is collected on time.
The CG stated further that the Systems like the AEO Program and the Advance Ruling System help mitigate instances of duty evasion and underreporting, which have been major issues in the past.
According to Mr Adeniyi, this achievement was made possible by the deployment of ICT and digitalization and optimisation of its revenue generating and collection process.
He said the Customs embraced digitisation of its processes since 2018 to grow the economy.
Adeniyi stated that today one can pay for duties or for services rendered any day anytime from the comfort of the homes or offices.
The Customs CG noted that the Service has the best brains in its employ in the area of ICT.
He said these young brains are well motivated and as such no bothered by the threat of the Japa syndrome ravaging the country.
Mnadi lauded the Comptroller for achieving this milestone in just a year in office.
