Announcing a significant milestone, the Nigeria Customs Service has revealed a substantial 127% increase in revenue during the first half of 2024 when compared to the same period in 2023.
In a statement issued on Monday in Abuja, the National Public Relations Officer of the service, Abdullahi Maiwada, highlighted the exceptional success achieved in the first six months of 2024.
Maiwada reported, “Exceeding the half-year revenue target of N2.54 trillion, the service has collected N2.74 trillion, surpassing the target by eight per cent, marking a remarkable 127% revenue upsurge when compared to the previous year.”
“For the second quarter, a total of N1.395 trillion was collected, exceeding the quarterly target by 10%, which represents a 131% increase over the revenue collected in Q2 of 2023,” he added.
Maiwada attributed the success to key initiatives like the e-auction platform, which generated over N1.34bn, and the implementation of a 90-day duty payment window for uncustomed vehicles, resulting in an additional N4.37bn in revenue.
These measures have significantly improved transparency, compliance, and efficiency within customs operations, showcasing the NCS’s dedication to excellence.
During the review period, there was a notable increase in anti-smuggling efforts, leading to 2,442 seizures valued at over N25bn from January to June 2024.
The figure represents a substantial 203% surge in the Duty Paid Value (DPV) of seizures compared to the first half of 2023.
“In the second quarter of 2024, the NCS recorded 1,334 seizures with a DPV of N 17,564,384,378, reflecting a 121% increase over the first quarter of 2024.
Among the top seized items were wildlife products, vehicles, arms, ammunition, foreign rice, pharmaceuticals, and narcotics, leading to the detention of 32 suspects,” Maiwada revealed.
During the initial six months of 2024, the NCS processed 620,467 Single Goods Declarations, indicating a reduction of approximately 39% compared to the same period in 2023.
Despite this decrease, the NCS has introduced various initiatives to streamline and expedite customs processes.
These initiatives encompass reinforcing NCS automation procedures, conducting capacity-building programs for officers, and fostering public-private partnerships to enhance customs clearance efficiency.
Such efforts are essential in boosting Nigeria’s trade competitiveness and bolstering economic growth,” Maiwada emphasized.
Challenges faced by the NCS in the first half of 2024 included significant fluctuations in the exchange rate, reduced transaction volumes, poor compliance levels among traders, and intermittent downtimes.
Miawada elaborated on the challenges affecting revenue consistency and operational efficiency, outlining strategies deployed by the NCS to address these issues.
These strategies encompass real-time system audits, post-clearance audits, and validating documents for the Pre-Arrival Assessment Report.
Other implemented measures involve ensuring adherence to import regulations and piloting the Authorised Economic Operators scheme.
Maiwada highlighted recent initiatives undertaken by the NCS in fulfilling its constitutional obligations.
These initiatives include the implementation of an Advance Ruling System, launching Operation Whirlwind, reshuffling strategic officers, and engaging stakeholders robustly.
NCS Comptroller General, Adewale Adeniyi, acknowledged the dedication and diligence of the staff, reaffirming the service’s commitment to supporting government policies, notably the directives of President Bola Tinubu’s administration for a better Nigeria.
NAN