Customs targets N4.1 trn revenue in 2022

 

The Nigeria Customs Service (NCS) has disclosed that it has a revenue target of N4.1 trillion in 2022.

Recall that the NCS had stated that it generated N2.3 trillion revenue in 2021, exceeding the target by N63 billion.

The FG had set a 2021 revenue target of N1.67 trillion for the agency last year.

This was disclosed on Thursday by Yusuf Malanta, customs area controller (CAC), Apapa Command of NCS during a press briefing in Lagos.

According to Malanta, the command gathered N870.4billion from importers in 2021.

Furthermore, he said the revenue profile of the command increased significantly by 68 percent in 2021, compared to N518.4 billion collected in 2020.

He also said the Apapa command was ready to achieve the 2022 revenue target.

“The revenue target of the NCS has been increased to N4.1 trillion,” he said. 

“For us in Apapa Area Command, we have already boarded and fastened our seats towards the realization of this revenue target.

“We hope that the service will surely leverage the deployment of digital transformation of Customs business processes which will further take care of many control mechanisms through its risk management system.”

Speaking on the revenue collected for 2021, Malanta said despite COVID-19, gridlock, and other challenges, they were able to overshoot their target. 

“Despite the enormous challenges faced in the trade supply chain; occasioned by Covid-19 pandemic still ravaging economies around the world, high cost of freight, incessant traffic gridlock, rail construction through the port, as well as ensuring an increase in compliance level from stakeholders, the Command between January and December 2021 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, respectively,” he added.

“This clearly shows that the revenue profile of the command has significantly increased by about 68% when compared with the collection of N518.4 billion in the year 2020.”