You are here: HomeNews2021 04 21Article 433054

Business News of Wednesday, 21 April 2021

Source: www.mynigeria.com

Customs generate N466.1bn revenue in Q1 of 2021

Nigeria Customs Service says it generated N466.1 billion revenue in the first quarter (Q1) of 2021 Nigeria Customs Service says it generated N466.1 billion revenue in the first quarter (Q1) of 2021

The Nigeria Customs Service (NCS) says it generated N466.1 billion revenue in the first quarter (Q1) of 2021.

This is according to statistics that were obtained from the office of the Public Relations Officer of the service, Mr. Joseph Attah, yesterday, Tuesday, April 20, 2021, which showed that the revenue was generated between January and March.

The data indicated that the NCS realized the highest revenue in March with N169.4 billion followed by January with N157.6 billion while the sum of N138.9 billion was generated in February, according to Economic Confidential.

The document showed that the agency realized the highest revenue of N216.9 billion within the period under review from import duty.

According to the statistics, the import duty was followed by Customs VAT which is N105.2 billion, and non-federation accounts levies of about N55.5 billion.

Economic Confidential reports document showed that N50.8 billion was generated from federation account levies while N34.5 billion was gotten from excise duty as well as N2.8 billion from fees.

Similarly, the statistics revealed that within the period under review, the service made a seizure of different contraband goods valued at N1,996,145,258.

The document indicated that the customs confiscated 37,206 bags of imported rice from January to March.

Meanwhile, the Senate yesterday, directed its Committee on Ethics, Privileges and Public Petitions to investigate an alleged invasion of rice traders’ shops by men of the Nigerian Customs (NCS) that resulted in the carting away of goods to the tune of N85 million.

This was sequel to a petition from the Ibadan Foodstuff Sellers Association to the Senate President through Senator Kola Balogun representing Oyo South Senatorial District.

According to Balogun, 3,046 bags of rice valued at N79,196,000; 25kg vegetable oil numbering 14; cash of N4,862,000; and 15kg bags of garri were carted away by men of the NCS during a forceful invasion of shops in the absence of traders.

The association, in the petition, said, “the above-named association write to report the unfortunate night invasion of the Bodija International Market, Ibadan and the forceful breakage of the rice traders’ shops by men of the Nigerian Customs, Ikeja Unit, Lagos on 31st March through 1st April 2021.

“Our shops and warehouses were forcefully opened in our absence and the following items were carted away: 3,046 bags of rice at N26,000 per bag – N79,196,000; 14 (Nos) 25kg Vegetable Oil; Cash of N4,862,000.00; and One (Nos) 15kg Bag of Gari.

“It is pertinent to report to you, Sir, that five (5 nos) shops still remain under special white padlock, the same that was put on the forcefully broken ones.

“The Ibadan Customs Unit has advised us not to unlock the shops for reasons unknown to us and owners of the shops have been rendered helpless. They cannot access their shops and neither can they trade in anything. Their families have been suffering.

“We seek the intervention of your highly esteemed office for the immediate return of all the items and cash carted away from our shops and warehouses.

“We also seek for the Red Chamber’s investigation into the reasons behind the forceful raid on our shops. We demand that such raid should stop henceforth and this one should be the last of such action on the innocent peaceful traders in our market.

“We demand that tight security arrangements be put in place in the market by the government to protect our products after closure from business activities of the day to avoid looting of our shops by hoodlums who might want to follow the illegal footsteps of the men of the Nigerian Customs Service.

“We demand that the Nigeria Customs should be warned against the use of the crude and cruel method of infringing on traders’ properties and products.

“That the action of the Nigeria Customs is seriously infringing on our rights to trade in legitimate items within the country as the midnight invasion violates all democratic principles.”

The Senate President, Ahmad Lawan, referred the petition to Senator Ayo Akinyelure-led Committee on Ethics, Privileges, and Public Petition for investigation.