Nigeria Customs Make N182 Billion As Profit Before Tax In Nine Months

The Nigeria Customs Service, through its Ports & Terminal Multipurpose Limited  has said the agency made N182bn in total as revenue between the months of January to September 2022.

Naija News reports that the Public Relations Officer, Muhammd Yakubu, made this known in a statement on Thursday while comparing the revenue between the last two years.

Yakubi noted that the command’s revenue saw a 10 percent increase as it rose from N17.3bn.

He further explained that the highest increment was recorded in July with 29.9percent followed by May.

“The highest increment was recorded in July with 29.9percent, followed by May 2022 with 28percent rise in revenue collection”

Yakubu also disclosed a  breakdown of a month-on-month revenue collection between 2021 and 2022, which showed that the Command made N15,2bn in January 2021 and N15,7bn in January 2022, showing a 3.3percent increase.

“In February of the previous year, it recorded a 20percent increase after raking in N14bn in 2022, as against N11,7bn in 2021, while March 2022 saw a 9.5percent rise with N21,8bn collected, compared to N19,9bn in the previous year. Although its April 2022 performance of  N16.3bn did not match that of the previous year of N17.9bn, it however made up of for that in May, following a 28percent boost with N22.5bn collected as against N17.6bn made in 2021”

According to the statement, “In June 2022, the Command collected N27bn indicating a 21.5percent appreciation from N22.2bn made the previous year, while July 2022 saw it recorded 29.9percent increase, the highest collection so far with N25.3bn when compared to the N19.5bn generated in 2021. For August and September 2022, the Command failed to surpass collections of the previous year after generating N21,7bn(-0.3.1%) and N17.3bn (-8.5%), as against N21.8bn and N19bn respectively”

In the statement, the Roll-On-Roll-Off terminal reassured importers of the command’s capacity to process clearance of imported vehicles within four hours.

“The command will rely on utmost compliance which include sincere declaration, prompt duty payment, readiness for timely examination, zero level of smuggling and concealment to sustain the feat”