Business Hilights
Tracking Nigeria's Headline Business News Online

Fears as Apapa Customs revenue drops by N5.2bn in October

Contrary to the rising trend in revenue generation at the Apapa Area Command of the Nigeria Customs Service (NCS), for the first time, the Command has recorded a revenue shortfall of N5.2billion in the month of October 2016.

It would be recalled that the command had in the month of September generated N32.9billion but statistics made available by the Public Relations Officer of the command, Emmanuel Ekpa on Friday showed it generated N27.7billion representing a decline of N5.2billion.

According to the statistics, the amount generated into the federation account stood at N14billion while N6.8billion was generated into the non federation account.

Ekpa said the amount was collected from import duty on five percent Value Added Tax (VAT), 7 percent port levy, National Automotive Council (NAC) and 1 percent Comprehensive Import Supervision Scheme (CISS).

Others are Sugar levy, rice levy, wheat flour, wheat grain and iron levy among others.