Business Hilights
Tracking Nigeria's Headline Business News Online

Customs rakes all time high revenue, hits N486b in first half of 2017

The Nigerian Customs Service (NCS) has said it reached an all-time high record in revenue generation, for the first half of the year 2017, raking in a record N486 billion.

According to the Public Relations Officer of the Service, Mr. Joseph Attah, “Nigerian Customs Service generated a total of N904 billion in 2015, whereas the figure dropped in in 2016 to N898 billion”.

‘The reason for the decline of revenue in 2016 was attributed to the difficulty in assessing foreign exchange and removal of 41 items.

“In the First quarter of the year 2017, the Nigerian Customs Service generated a total sum of N239.4 billion. This amount in the first three months exceeded the agency’s target of N193.2 for the period.

Attah disclosed further that “The Customs said at the beginning of the year 2017 hat it is targeting a revenue base of between N700 billion to N900 billion”.