• Tuesday, May 28, 2024
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Lilypond Customs generates N1.39bn under export supervision scheme

Lilypond Customs generates N1.39bn under export supervision scheme

The Nigeria Customs Service (NCS), Lilypond Export Command, said it generated a total of N1.39 billion under the Nigeria Export Supervision Scheme (NESS) in the first quarter of the year.

Ajibola Odunsanya, Customs Area Controller of Lilypond Export Command, disclosed this in Lagos on Tuesday.

The figure represents an increase of N1.01 billion when compared to N328.2 million recorded in the first quarter of 2023.

Odunsanya said the command also recorded revenue worth $236 million within the period.

He attributed the success to the enhanced revenue generation drive, compliance with trade rules and alignment with fiscal policy directives.

According to him, the payment for plants and machinery as well as imported goods grew from N8.78 million in the same period of 2023 to N18.2 million during the period under review.

Read also: Customs Lilypond records $701 million export earnings in 2023

“In the first quarter of 2024, the command processed a total of 5,891 20-foot and 40-foot containers of export valued at $236,087,888.53. These comprised diverse commodities such as agricultural produce, manufactured goods, and solid and extractive minerals, among others,” he said.

A breakdown of export activities shows that Agricultural produce totalled 4,229 containers with earnings amounting to $153.4 million and receiving N916.4 million under NESS, underscoring the robust contribution of agricultural exports to the national economy.

Also, about 629 containers dispatched within the period were manufactured goods that contributed to export revenue, totalling $22.2 million with N112.9 million NESS payments to the federal government, which shows the sector’s resilience and competitiveness in the global market.

The Area Controller said the export of solid and extractive minerals witnessed a notable upsurge with 753 containers valued at $34.1 million, representing a NESS payment of N224.1 million.

He said it shows the immense potential of Nigeria’s mineral resources on the international stage.

Read also: Nigeria cutting agro-export delay as Lilypond terminal begins full operations

“The command also exported 280 containers of various goods including plants and machinery, and personal effects which contributed $26.2 million to export revenue with a NESS payment of N135.7 million, emphasising the diversified nature of Nigeria’s export portfolio,” Odunsanya said.

According to him, the total containers processed in the first quarter of the year surged by 44 percent to reach 5,891 containers as against 3,784 containers processed in the first quarter of 2023.

The Customs boss said export commodities’ value also surged to $236 million as against $154.4 million recorded in the first quarter of 2023, underlining the sustained momentum in export performance.

He further said the command maintained an open-door policy, which helped to resolve issues of common interest with concerned stakeholders.