Customs hits gold in Q1 revenue, rakes in N239.4bn to exceed target by N46.2bn
At a time the federal government is decrying drop in revenue to fund the 2017 budget, released financial inflows have continued to look up against 2016 hauls and even set quarterly targets.
A document from the Federal Ministry of Finance has revealed that the Nigeria Customs Service (NCS) generated a total sum of N239.4bn in the first quarter as against its target of N193.2bn by N46.2bn.
According to the report, The NCS collected N904.07bn in 2015 against a target of N944.4bn; the total collection in 2016 was N898.67bn against the target amount of N973.3bn.
“Between January and March 2017, the NCS was able to generate N239.4b, thereby exceeding the target of N193.22bn set for the period.
A top official of the Service and Customs Area Controller of Federal Operations Unit (FOU), Zone A, Ikeja, Mr. Uba Mohammed during a recent media interaction, “All the recent achievements and rising revenue by Customs are made possible by the reforms and restructuring plus ongoing Service re-orientation of officers in service delivery and removing defects by way of adopting simplified procedures in operations”.
Additional details in the ministry’s report showed further that “The NCS collected N904.07bn in 2015 against a target of N944.4bn; the total collection in 2016 was N898.67bn against the target amount of N973.3bn”.
“Between January and March 2017, the NCS was able to generate N239.4b, thereby exceeding the target of N193.22bn set for the period.
