Customs generate N3.21trn in 2023, targets N5.08 trn in 2024

The Nigeria Customs Service generated a total sum of N3.21 trn in the year 2023, Comptroller General of the Service, Bashir Adeniyi told members of the House of Representatives Committee on Customs and Excise on Wednesday.

Adeniyi who appeared before the committee accompanied by top officials of the NCS told the lawmakers that though the service targeted the sum of N3.67trn in the outgone year, it was only able to generate N3.21trn owing to a combination of factors.

This is even as he stated that all things being equal, men and officers of the NCS will work diligently to generate N5.08trn for the nation in 2024.

He said, “In 2023, the revenue target for the service was N3.67tran and remarkably, the service collected a total revenue of N3.21trn from January to December 2023.

When we compare what we collected in 2023 to what was projected as our targets, there was a negative variance of N462.9 bn, which represents 12.62 per cent of what was approved as revenue targets.

“Though we didn’t achieve what we projected, but we want to say with all sense of modesty that we did our best. And when we consider all factors, we will appreciate the fact that we at NCS did the best we could.

My Adeniyi listed import of goods under the common external tariff, import duty exemption certificate, uncertainties and anxieties as some of the factors that contributed to the inability of the service to meet its revenue target for 2023.

When we compare what we collected in 2023 to what was projected as our targets, there was a negative variance of N462.9 bn, which represents 12.62 per cent of what was approved as revenue targets.

“Though we didn’t achieve what we projected, but we want to say with all sense of modesty that we did our best. And when we consider all factors, we will appreciate the fact that we at NCS did the best we could.

My Adeniyi listed import of goods under the common external tariff, import duty exemption certificate, uncertainties and anxieties as some of the factors that contributed to the inability of the service to meet its revenue target for 2023.

Earlier, the Chairman of the Committee, Leke Abejide pledged the readiness of the lawmakers to help reposition the NCS in its task of realizing its revenue target for the nation.

NHe charged the NCS boss to prioritise e-customs and the integration of Artificial Intelligence in manning the nation’s border stations.