• Sunday, May 26, 2024
businessday logo

BusinessDay

Imports decline slashes Tin-Can Customs revenue to N50bn in Q1 2013

businessday-icon

 

The sharp decline in importation volume and the reforms in the financial sector have eaten deep into the first quarter revenue of the Tin-Can Island Command of the Nigeria Customs Service (NCS).

The command at the end of the first quarter generated a total of N50.1 billion showing a loss of N2.7 billion from the N52.9 billion collected the same period in 2012.

Also, the N50 billion represents a total difference of N34 billion from the N84 billion that the command is supposed to generate in the first quarter of this year, going by the N28 billion monthly target given to the command by Customs management.

A breakdown of the total revenue shows that the command collected the sum of N16.3 billion in the month of January, N16.3 billion in February, and N17.6 in March.

While reviewing the command’s performance in the first quarter, Tajudeen Olanrewaju, Customs area controller of the command, told newsmen that the command was very optimistic about meeting its target by the end of second quarter as the command had blocked all loopholes for revenue leakages towards achieving its given target.

He further said the command’s effort to reduce smuggling to its barest minimum led to the seizure of 61 x 40 feet containers and 32 x 20 feet containers of offending imports with duty paid value of over N306.6 million.

The seized items include parboiled rice, electrical cables, generators, lace materials, television stand, tissue papers, soft drinks, automotive batteries, used clothes and under-declared vehicles.

“In order to achieve a user-friendly business environment in the port, we collaborate and synergise with other security agencies and by extension other critical stakeholders to ensure a robust port business partnership at the command,” Olanrewaju said.

The Customs boss further said the command has devised strategies to encourage legitimate and compliant trade.

“To this end, import-compliant traders enjoy speedy clearance of their cargos at Tin-Can as we use our ICT centre to fast-track cargo clearance. It is the non-compliant importers that complain of cargo clearance delay in the port,” he said.