Customs Service Generates N600bn In Q3


Hyacinth Chinweuba

The Nigeria Customs Service, NCS, said it generated N600 billion in the third quarter of the year.

Its Comptroller-General, Hameed Ali, who made the disclosure claimed the figure was poor, a situation he attributed to the fluctuating foreign exchange rates and the ban on 41 items list by the Central Bank of Nigeria.

According to him, The service made more than N600 billion in the last quarter of 2016. I will not say it regrets but the CBN should have liaised with the Service before placing ban on some of the items.
The revenue target for the Customs this year is N1trillion.

The CG however said that the collaboration between the Customs and the Federal Inland Revenue Service (FIRS), Federal Road Safety Corps (FRSC) will boost revenue from the non-oil sector.

He described the economy as currently facing danger following the fall in revenue from the oil sector, adding, “What this means is that the nation has to focus attention on tax”.

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