Nigeria Customs Service Implements Reforms To Enhance Trade Facilitation
By; Elizabeth Christopher
The Nigeria Customs Service (NCS) says it has undertaken significant reforms aimed at optimizing efficiency across its ports.
The Comptroller General of Customs, Adewale Adeniyi while briefing the press on the activities of the Service in the first quarter of 2024, disclosed that concerted effort the NCS bolster trade facilitation despite challenges.
“Trade facilitation remains a central focus of the NCS operations. Despite inherent challenges, we have diligently worked towards streamlining processes, minimizing bottlenecks, and optimizing efficiency across our ports to ensure seamless trade transactions. In First Quarter 2024, the NCS processed a total of 311,492 Single Goods Declarations (SGDs) for imports, reflecting the volume of import transactions handled. This figure indicates a decrease compared to the total volume of 327,491 processed in 2023 and 403,233 SGDs in 2022”
The CGC explained that the Service recorded 10.60% growth in export activities.
“Regarding export transactions, a total of 10,786 SGDs were processed in 2024 compared to 9,752 transactions in 2023, representing a 10.60% growth in export activities.
Notably, a significant portion of this growth occurred in January, with 4,067 transactions processed in 2024 compared to 3,352 SGDs in 2023, marking a 29.69% increase.
The Service is particularly interested in the growth of the non-oil export sector, aligning with the priorities of the President Bola Ahmed Tinubu led administration and the initiatives pursued by NCS in recent times”
“A myriad of deliberate factors have contributed to the successes around NCS key performance indicators. It is important to acknowledge the dedication and efforts of the officers and men of NCS who have worked tirelessly and around the clock to ensure consistent and upward momentum. NCS officers have played a key role in driving the implementation of initiatives, as evidenced by our performance across the three core statutory responsibilities set by the government.
Among these initiatives is the introduction of the E-auction generating a total revenue of NGN 1.6 billion in February and March”.
The Nigeria Customs Service (NCS) disclosed that it generated the sum of N1.347trillion revenue between January and March 2024, surpassing monthly average revenue target of about N4.2billion in the year.
“In the first quarter of 2024, the NCS demonstrated remarkable performance in revenue collection.
Total revenue collected during this period amounted to NGN 1,347,675,608,972.75.
The collection for the first quarter represents a substantial increase of 122.35% compared to the same period last year, where NGN 606,119,935,146.67.
Month-by-month analysis further illustrates the Service’s impressive growth trajectory.
In January 2024, revenue collection surged by 95.60%, reaching NGN390,824,148,326.55 from NGN199,809,974,327.52 recorded in January 2023.
This upward trend continued in February 2024, with a staggering 138.68% growth, elevating revenue collection to NGN 450,209,267,557.15 from NGN 188,625,011,386.87 in February 2023.
By March 2024, the revenue collected by NCS revenue grew by 132.76% from NGN 217,669,949,432.28 to NGN 506,642,193,019.05″
Olusola Akintonde
