The Nigeria Customs Service (NCS) says it takes in a total revenue collection of N3,206,603,417,315.47 in the 2023 fiscal year, a 21.4 percent increase from the preceding year’s total revenue of N2,641,616,673,501.83.
The Comptroller-general of Customs, Adewale Adeniyi who disclosed this at a press conference in Abuja, said the consecutive expansion in revenue underscores the service’s sustained efforts in optimising revenue collection for the federal government.
“In the fiscal year 2023, the NCS achieved a significant milestone by recording a total revenue collection of NGN 3,206,603,417,315.47, marking a noteworthy 21.4% increase from the preceding year’s total revenue of NGN 2,641,616,673,501.83. This growth aligns with the NCS’s consistent upward trajectory, as evidenced by a 17.88% revenue increase in 2022. The consecutive expansion in revenue underscores the Service’s sustained efforts in optimizing revenue collection for the Federal Government and exemplifies our ability to adapt to dynamic economic conditions”
The CGC attributed the shortfall of N532 billion in the first half of the year of the projected revenue target of N1.84 trillion to operational challenges
“Operational challenges such as lower transaction volumes, compliance issues, inadequate infrastructure, and capacity gaps were said to have been compounded by delays in policy implementation and socio-political factors. The anxiety associated with a major election year, the prolonged cash crunch linked to the introduction of higher denominations of the new Naira bills are some of the factors Adeniyi said temporarily impacted purchasing power, closure of Nigeria’s northern borders with Niger Republic and other economic complexities in 2023:
Adeniyi whhile noting the deliberate government initiatives and incentives designed to foster the growth in the economy said the Service will deploy strategic initiatives poised to positively impact the Service’s performance in the coming months.
“These initiatives include the introduction of the Advanced Ruling system, aligning NCS operations with global best practices and meeting the recommendations of the World Trade Organization Trade Facilitation Agreement (WTO TFA). Additionally, the inauguration of a Steering Committee on the Implementation of Authorized Economic Operators (AEO) for Compliant Traders underscores our readiness to transition from Fastrack 2.0 to the AEO concept. Engagements with the international community, such as those with the World Customs Organization (WCO), JICA, and Japan Customs, focused on key areas is expected to lead to the implementation of the Customs Laboratory, adoption of geospatial technology, and the conduct of a Time Release Study. Collaborative efforts with the Customs Administration the Republic of Benin, the revitalization of zonal structures, and integration of Customs institutions into the administrative framework all contribute to NCS’s commitment to efficient service delivery and positive stakeholder relationships. The NCS also responded to changes in legislation, engagement with the National Trade Facilitation Committee (NTFC), initiated Corporate Social Responsibility projects, integrated efforts with the Federal Road Safety Corps (FRSC), enhanced personnel welfare programs, and introduced the Work-Life Balance (WLB) initiative. In the upcoming week, the NCS is set to inaugurate an electronic auction (e-auction) platform, strategically designed to enhance transparency in the auction process”.
These collective actions signify NCS’s dedication to enhancing staff welfare and sustaining optimal performance.
The Customs Boss restated commitment of the Service to remain “steadfast in its commitment to implementing these strategies and exploring practical approaches to meet the heightened revenue target”
“For the fiscal year 2024, the NCS has been allocated a new revenue target of NGN 5.079 trillion, aligning with the government’s economic obligation”.
Olusola Akintonde
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