THE Nigeria Customs Service (NCS) has generated N2.74 trillion in revenue in the first half of 2024, surpassing its target by 8 percent and increasing by 127 percent compared to the previous year, according to its mid-year performance report.
A statement signed by Chief Superintendent of Customs and National Public Relations Officer, Abdullahi Maiwada said the achievement aligns with President Bola Ahmed Tinubu’s administration’s policy direction and underscores the commitment of the NCS under Comptroller-General Bashir Adewale Adeniyi’s leadership.
Key highlights include: E-auction platform generated over N1.34 billion; 90-day duty payment window for uncustomed vehicles added N4.37 billion to revenue; Anti-smuggling operations led to 2,442 seizures with Duty Paid Value (DPV) of N25.52 billion, a 203% increase over the first half of 2023; and Implemented initiatives to simplify and expedite customs processes via trade facilitation, despite a 39% reduction in Single Goods Declarations (SGDs) processing.
The NCS said it faced challenges, including exchange rate fluctuations, lower transaction volumes, and system downtimes, but implemented strategies to address these issues and enhance revenue collection.
The Service introduced the Advance Ruling System (ARS), established a dispute resolution framework, and engaged with stakeholders to achieve these results.
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