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Nigeria Customs generated N799 billion revenue in 5 months

Chike Olisah by Chike Olisah
May 31, 2021
in Business News
Nigerian Customs: Apapa Command recorded N40.6 billion FoB in 2019, Customs generates revenue of N1.003 trillion in H1 2021

Nigerian customs

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The Nigeria Customs Service (NCS) has said that it generated N799 billion in revenues between January and May 2021.

This represents a N226.1 billion increase when compared with the amount generated for the same period in 2020.

This disclosure was made by the Public Relations Officer of the Nigeria Customs Service, Mr Joseph Attah, on Monday, May 31, 2021, while addressing the press in Abuja.

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Attah said that this was made possible by the strict implementation of all extant rules governing imports, exports, and excise in the country. He noted that the strategic deployment of officers and automation of the processes and regulations also contributed to the feat achieved.

Going further, he said that getting the officers and men of the service to put national interest above themselves, was also responsible for the improvement of revenue.

He said other reasons were robust stakeholders sensitisation, increasing level of compliance from stakeholders, and improved working relationship with the National Assembly.

The spokesperson added that the management under the leadership of retired Col. Hameed Ali had continued to take strategic actions that would impact positively, the national economy and security.

What you should know

It can be recalled that in a related development, the Federal Inland Revenue Service (FIRS), had earlier announced that it generated N496.39 billion as Value Added Tax (VAT) in the first quarter of 2021 (Q1 2021), an increase of 9% quarter-on-quarter.


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Tags: Mr. Joseph AttahNigeria Customs Service NCS
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 1

  1. michael says:
    May 31, 2021 at 6:21 pm

    I wonder how many business Our Customs have killed. It is good to generate more money for the goverment but it should not be at the expense of employment for our people. when customes charges excess tariff/ duty, take.bribe and allow manufacturers raw materials and quipment to enter demurrage they are killing our economy

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