• Saturday, February 24, 2024
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Customs Lilypond records $701 million export earnings in 2023

Customs Lilypond records $701 million export earnings in 2023

The Lilypond Export Command of the Nigeria Customs Service (NCS) said it recorded a Free on-board (FOB) value of $701 million in export earnings in 2023.

The Command also processed 18,407 containers in both 20-foot and 40-foot, weighing 688,097 metric tons.

Ajibola Odusanya, the Customs area controller, disclosed this information to journalists at the Command recently while highlighting the activities of the Command for the year 2023.

Odusanya said the processed items and commodities were categorised into Agricultural produce, extractive and solid minerals, miscellaneous items, and manufactured goods.

“Export of Agricultural produce such as Cocoa, Sesame, Hibiscus Flowers, Cashew Nuts, and others is considered the highest activity, accounting for export earnings of $315,989,502.97,” he said.

According to him, a total of N2.182,681,163 was paid into the Nigeria Export Supervision Scheme (NESS) levy account.

The CAC said that a surcharge of N97.192,645 was recorded based on the 2.5 percent levy on the export of previously imported goods following the 2022 fiscal policy of the Federal Government.

Regarding operational procedures, Odunsanya listed efforts to streamline processes including the establishment of multiple export points such as Ikorodu, Okokomaiko, and others, aiming to enhance efficiency and reduce the need for exporters to visit the Command for assistance.

“We have more export containers going out of the country. As they are going, dollars will be earned on those goods that are being exported, and the dollar will be repatriated into the country. It will reduce the pressure on our foreign reserve, and ultimately, our currency will firm up better,” he said.

He assured the Command’s commitment to improving and streamlining export procedures in 2024.

“This Command is primarily for export. Therefore, the export issues should be directed to us, and we are up to the task of resolving them. We are committed to further improve and streamline export procedures in 2024. Our focus remains on delivering even greater efficiency, transparency, and collaboration to benefit all stakeholders involved in the export process,” he added.