The Nigeria Customs Service, on Wednesday, revealed a 122.35 percent rise in its first quarter 2024 income compared to the same period in 2023, stating that it collected N1.34 trillion between January and March this year.
This was announced at a press briefing in Abuja, noting that the agency’s income saw a monthly increase in the first three months of 2024.
“In the first quarter of 2024, the NCS showed exceptional performance in revenue collection. Total income during this period was N1,347,675,608,972.75.
“The collection for the first quarter represents a significant increase of 122.35 per cent compared to the same period last year, where N606,119,935,146.67 was generated,” the Comptroller-General, NCS, Adewale Adeniyi, informed journalists.
He added, “Month-by-month analysis further displays the service’s impressive growth trajectory. In January 2024, revenue collection surged by 95.60 per cent, reaching N390,824,148,326.55 from N199,809,974,327.52 recorded in January 2023.
“This upward trend continued in February 2024, with a remarkable 138.68 per cent growth, increasing revenue collection to N450,209,267,557.15 from N188,625,011,386.87 in February 2023. By March 2024, the revenue collected by NCS grew by 132.76 per cent from N217,669,949,432.28 to N506,642,193,019.05.”
Adeniyi pointed out that compared to the Federal Government’s annual revenue target of N5.07 trillion for the NCS to collect in 2024, the target translates to a monthly revenue aim of N423 billion.
“We are pleased to report an average monthly revenue growth of 6.2 per cent over the set monthly target and a cumulative revenue collection of 18.6 per cent, equivalent to N78,675,608,972.75 over the set quarterly target of N1.269 trillion,” he said.
39% rice confiscations
The customs boss further stated that in the first quarter of 2024, the NCS recorded a total of 572 confiscations, covering various items valued at N10,593,099,654.50 in Duty Paid Value.
“Notably, January saw 111 confiscations amounting to N842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totaling N3,704,703,350.34. Rice constituted 39 percent of the confiscations, followed by petroleum products at 26 percent, with motor vehicles and textiles accounting for nine and six percent of the confiscations respectively.
“During this period, the NCS detained 22 suspects and appropriate legal measures will be taken in accordance with the Nigeria Customs Service Act 2023,” Adeniyi stated.
On trade facilitation, he said this remained a central focus of the NCS operations, adding that despite the challenges, “we have diligently worked towards streamlining processes, minimizing bottlenecks, and optimizing efficiency across our ports to ensure seamless trade transactions.”
Adeniyi stated that in the first quarter of this year, the NCS processed a total of 311,492 Single Goods Declarations for imports, reflecting the volume of import transactions handled.
This figure, according to him, indicates a decrease compared to the total volume of 327,491 processed in 2023 and 403,233 SGDs in 2022.
He mentioned that a total of 10,786 SGDs were processed in 2024 for export transactions, compared to 9,752 transactions in 2023, showing a 10.60% growth in export activities.
He mentioned that a significant part of this growth happened in January, with 4,067 transactions handled in 2024 compared to 3,352 SGDs in 2023, marking a 29.69% increase.
“The service is particularly interested in the expansion of the non-oil export sector, in alignment with the priorities of the President Bola Tinubu-led administration and the initiatives pursued by NCS recently.”
He observed that several intentional factors contributed to the achievements around NCS key performance indicators and emphasized the significance of acknowledging the dedication and efforts of agency officers and men who worked tirelessly to ensure consistent and upward momentum.
“NCS officers have played a crucial role in implementing initiatives, as shown by our performance across the three core statutory responsibilities set by the government. One of these initiatives is the introduction of the E-auction, which generated a total revenue of N1.6bn in February and March,” Adeniyi stated.
He also mentioned that the government's granting of a 90-day window to owners of uncustomed vehicles, facilitating the payment of appropriate duties on previously imported vehicles into the country, helped in fulfilling the NCS mandate.
“Members of the public are strongly advised to take advantage of this opportunity to formalize their documents, as failure to do so will result in relevant penalties.
“Additionally, the government's decision to reopen the Northern borders with the Niger Republic is of great importance. This action is expected to increase trading activities in those areas. With potential smugglers now reconsidering the legitimacy of trading through approved routes, this decision stands as a pivotal move,” he stated.
However, the customs boss noted that during the quarter, the NCS faced several systemic challenges that hindered its ability to effectively fulfill its statutory responsibilities.
“These challenges included issues related to non-compliance with regulations, limitations in infrastructure, and a noticeable decrease in cargo throughput, as evidenced by a 4.89% decrease in the volume of transactions handled,” Adeniyi stated.
