Revenue Revolution: NCS shatters records with 74% growth – CGC Adeniyi (Pictures)

June 19, 2024

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Revenue Revolution: NCS shatters records with 74% growth – CGC Adeniyi (Pictures)

The Nigeria Customs Service (NCS) has announced a remarkable 74% increase in revenue collection over the past year, totaling N4.49 trillion, up from N2.58 trillion in the previous year. This achievement was marked by a 70.13% increase in average monthly revenue collection, reaching N343 billion.

Comptroller-General Bashir Adewale Adeniyi attributed the growth to key initiatives such as the Revenue Review Performance Recovery exercise, which recovered N15 billion, and the regularisation of uncustomed vehicles, which generated N2.79 billion.

“Our strategic efforts have yielded significant results, and we remain committed to enhancing trade facilitation, security, and collaboration with stakeholders,” Adeniyi said.

The NCS has also made significant strides in trade facilitation, decongesting ports and reopening access roads, and improving efficiency by 81.5% under the Presidential Enabling Business Environment Council (PEBEC).

The designation of the Lilypond command as a dedicated export terminal has seen a remarkable increase in Single Goods Declarations (SGDs) processed, from 317 to 7,464, accounting for 19.49% of total export transactions in 2023.

In terms of security, the NCS has intensified anti-smuggling operations, resulting in significant seizures, including 63 animal and wildlife product seizures worth ₦566 million, seven arms and ammunition seizures, and 127 illicit drug cases valued at over ₦6 billion.

The agency has also fostered greater collaboration with stakeholders, reviving the Comptroller-General of Customs Conference and reactivating the National Trade Facilitation Committee. New partnerships with the Federal Road Safety Corps and the Health Federation of Nigeria have also been established.

Adeniyi emphasized that the measures implemented are designed to yield positive benefits, reducing costs for importers and consumers, and supporting government initiatives to build and upgrade infrastructure.

“We remain committed to protecting society from illicit substances, arms, and ammunition, and tackling PMS smuggling as a national security threat,” he assured.

Overall, the NCS has made significant progress under Adeniyi’s leadership, positioning itself as a key contributor to Nigeria’s economic growth and national security.

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