Business Hilights
Tracking Nigeria's Headline Business News Online

Can Customs hit its 2018 target of N1.5tn revenue in pre-election year?

…Plans to retire 577 officers

Whereas the negative impacts of forex shocks and delisting of 41 items from easy access to forex failed to derailed 2017 revenue target of the Nigerian Customs Service (NCS), there are strong indications that uncertainties surrounding an election year in Nigeria may play out a negative scenario of low revenue generation.

Statistics show that investments during al election year in developing economies are always done with serious caution due to fears of policy summersaults should another party wins presidency.

Business Hilights recalls that the Service had announced a total collection of N1.37 trillion in 2017, surpassing the year’s target of N770.57 billion. It collected N898.67 billion in 2016, N903 billion in 2015 and N977.09 billion in 2014.

According to the Comptroller General of Customs, Hameed Ali, who opened up on the revenue target for the year during the first management meeting for the New Year held recently in Abuja, said more drainpipes will be blocked and fresh strategies developed to sustain fight against smuggling and sharp practices by importers, exporters and clearing agents.

However, as part of achieve the dream revenue target, the Service is considering promotion of officers, which will soon to be approved by the board and the review of salaries.

There are also plans to retire about 577 officers who are due.

A circular titled CIRCULAR NO/HRD/2017/003-LIST OF OFFICERS/MEN FOR STATUTORY RETIREMENT IN YEAR 2018’ and signed by Sulaiman M.S.J, Comptroller Establishments, on behalf of Hameed Ali, the Comptroller General, had listed a Deputy Comptroller General, an Assistant Comptroller General, 11 Comptrollers, 27 Deputy Comptrollers, 27 Assistant Comptrollers and 23 Chief Superintendents of Customs for retirement before the end of 2018.