Wednesday, 24 April, 2024

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Customs generated N333.9bn monthly revenue in four months — CG Adeniyi


•says legislative compliance spurs economic development

Comptroller General of Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, on Wednesday, disclosed that Customs has generated the sum of N333.9 billion revenue between July and October, 2023.

Mr. Adeniyi, who gave the hint in Abuja, during the 2nd day of the ‘National workshop on Legislative Compliance’ organised by the Senate Committee on Legislative Compliance in conjunction with Green Mount Consulting Limited, and  chaired by former Chief Justice of the Federation, Justice Alfa Belgore.

While attributing the achievements recorded to robust relationships between the National Assembly and NCS, he said: “Our partnership with the Legislature has yielded positive outcomes in terms of revenue generation.

“By working together to review and enhance customs tariff structures and regulations, we’ve managed to optimize revenue collection, ensuring that funds are available for national development projects.

“One of our early achievements has been a remarkable boost in monthly revenue collection.

“We’ve witnessed a substantial increase with an average monthly collection of 20 billion in the first half of the year that concluded in June, surging to an impressive 333.9 billion in the past four months (July and October).

“This outstanding growth amounts to a remarkable 65.5 percent increase in revenue collection.

“I’m delighted to announce that we’ve consistently exceeded the monthly target collection of 307 billion naira, making a remarkable departure from previous performances.”

The Customs helmsman who affirmed that legislative compliance is non-negotiable for all MDAs and the Citizens, averred that “Nigeria has the potential to achieve economic development, attract foreign investment and improve the overall business environment by prioritizing legislative compliance.”

Some of the challenges identified by the NCS helmsman include: inadequate funding impedes acquisition of modern infrastructure, evolving trade dynamics, among others.

In the bid to address the challenges facing the Service, he harped on the need for “collaboration with the legislative branch to advocate for increased budget allocations can address resource constraints. Adequate funding can be directed towards modernizing infrastructure, acquiring advanced technology, and providing training opportunities for customs personnel.”

Credit: The Nigeria Lawyer

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