- The Nigeria Customs Service (NCS) collected N898 billion as revenue for the federal government at seaports and borders for 2016
- The amount is N39 billion below the expected target, while it is N6 billion less than the revenue generated in 2015
- The NCS blamed the shortfall on certain government policies
The Nigeria Customs Service (NCS) collected N898 billion as revenue for the federal government at seaports and borders for 2016.
The amount is N39 billion below the expected target, while it is N6 billion less than the revenue generated in 2015.
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The NCS generated N904 billion in 2015 and had targeted N937 billion for 2016 but fell short of its target.
According to New Telegraph findings, the service lost N10.27 billion on vehicles to smugglers in the period.
The NCS also faced numerous challenges during the out-gone year, one of which is the implementation of the national auto policy and CBN’s policy on foreign exchange, which barred importers of 41 selected items from accessing the official foreign exchange window.
CBN’s policy forced some Nigerian importers out of shipping, as they found it difficult to source foreign exchange for their imports. This led to smuggling and cargo diversion to neighbouring ports in 2016
According to the report, the NCS had complained that low container traffic had grossly affected its revenue generation, noting that the volume of import had fallen at the seaports and borders.
Spokesman of the service, Mr Joseph Attah, also attributed the shortage to under-declaration and concealment, among other sharp practices by importers as one of the reasons for the short-fall.
He recalled that the service was given a target of N937 billion as revenue in 2016.
During the period, the Comptroller General, NCS, Colonel Hameed Ibrahim Ali (rtd), explained that over 90 per cent of vehicles ferried to neighbouring countries were on transit to Nigeria market.
Despite the duty rates chargeable for motor vehicles at both land borders and seaports, which remain the same, he noted that importers of vehicles had been exploiting the informality of land border trade to short change the nation.
Meanwhile, stakeholders say there is a need for government to introduce policies that will make Nigerian ports the hub of maritime activities in West and Central Africa.
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