TinCan Island port increased revenue by 20% to N135bn in Q1 2022, says Customs

 

Nigeria Customs Service (NCS) has stated that it generated N135.44 billion in the first quarter of 2022 from operations at its TinCan Island Command.

This was disclosed on Wednesday by Olakunle Oloyede, command’s area controller at a media briefing in Lagos.

According to him, this is an improvement of N22.74 billion, representing an increase of 20.18 per cent, compared to the first quarter of 2021 — when revenue collection stood at N112.69 billion.

He said the command’s operations for the first quarter significantly aligned with the statutory responsibilities of the service.

He said this was so in the areas of revenue generation, trade facilitation, and enforcement/anti-smuggling activities.

Oloyede, speaking on export, said the total tonnage of goods exported through the command for the period under review was 71,014.4 metric tonnes with free on board (FOB) value of N56,205,901,295.

He said in the preceding year (January-March 2021), the total tonnage of goods exported through the command was 44,502.9 metric tonnes with a total FOB value of N31,371,825,954.

“Comparatively, between January to March 2021 and 2022, the tonnage of goods exported through the command increased from 44,502.9 metric tons to 71,014 representing an increase of 62.67 per cent,” he said.

“The FOB value in naira of the tonnage also increased from N31,371,825,954 to N56,205,901,295 representing an increase of 55.82 per cent within the period under review.”

He said commodities exported through the command include copper ingots, stainless steel ingots and sesame seeds.

Others include cashew nuts, cocoa beans, rubber, cocoa butter, leather, ginger and frozen shrimps.

Speaking on enforcement and anti-smuggling activities, he said seized items include 145kg of Colorado (hemp) concealed in two units of ridgeline trucks and two units of Toyota Corolla vehicles.

According to him, 206,000 pieces of machetes, 640 bales of used clothes and 236,500 pieces of used shoes, among others were also part of the seized items.

He said the seized items had a duty paid value amounting to N1,048,810,569.

“The import of these products contravenes Sections 46, 478 161 of the Customs and Excise Management Act (CEMA) Cap 45 LFN 2004,” he added.

He noted that the command was still facing challenges in the area of treatment of overtime cargo because of the non-implementation of the extant laws guiding uncleared cargo.

“Additionally, the lack of government warehouses at close proximity to the port has led to difficulties in logistics and handling cost,” he said.

On the 2022 fiscal policy, he said that a 90-day grace period had been given for the implementation of the new duty and excise rates.

“The Federal Ministry of Finance has recently published the 2022 Fiscal Policy with an effective date of April 1, however, with the 90-day grace period, it will take effect from June 1,” he said.

“As much as the service is putting in the effort to make the necessary adjustments, we are experiencing minor delays in its full implementation because the system is not designed to be retroactive.”