Home | News | General | Border closure: Nigerian Customs Service generates N123bn in four months - Report
Ize-Iyamu reportedly planning to dump PDP for APC
Security operatives indicted as tanker allegedly loaded with stolen petroleum products explodes in Lagos (photos)

Border closure: Nigerian Customs Service generates N123bn in four months - Report





- Border closure has started yielding positive results

- A report said that the NCS generated N1.002 trillion in 9 months

- The data also showed that the service recorded N123.6 billion in 4 months

Despite criticisms over the closure of land borders by the federal government, the action has begun to yield positive results for the country.

This was revealed in a report by the News Agency of Nigeria (NAN) which claimed that Nigeria Customs Service (NCS) has generated revenue of about N1.002 trillion from January to September 2019.

Legit.ng gathered that the data received by the NAN from the department of research and statistics and confirmed by the Customs' public relations office, indicated that the revenue was generated from 32 commands.

The statistics showed that the service recorded the highest revenue of N123.6 billion in the month of July followed by N118.6 billion realised in May.

The data also revealed that the lowest revenue was recorded in the month of February with N86.3 billion.

According to the report, the low in February’s Customs revenue might have been caused by 2019 general elections due to partial closure of borders within those periods of polls.

The data said that Apapa area command has the highest revenue of N313.5 billion within the period under review.

The statistics also indicated that immediately after the partial closure of borders, the service recorded N115.6 billion in September, with about N6.1 billion more than what was realised in August before borders were closed.

It was gathered that the revenue was generated from import duty, levy, excise duty and other fees.

The report also noted that by the end of 2019, NCS revenue would surpass the earning of 2018, which stood at N1.2 trillion.

NAN reports that 2018 revenue by the Customs was N164.8 billion more than the 2017 collection, which was N1.037 trillion.

PAY ATTENTION: Install our latest app for Android, read best news on Nigeria’s #1 news app

Meanwhile, Legit.ng had previously reported that some business people in Nigeria counted their losses following the continued implementation of the policy on border closure by the federal government.

It was reported that the business people spoke at a time goods worth at least N5 billion became trapped at the Seme-Krake border in the Republic of Benin.

NAIJ.com (naija.ng) - Legit.ng We have upgraded to serve you better.

Border closure: Nigerians now prefer eba to rice – traders lament | - on Legit TV

[embedded content]

CLICK HERE TO READ MORE FROM: General Visit website



Loading...

view more articles

About Article Author

Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design &development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

View More Articles

100 Most Popular News

1 2 3 Displaying 1 - 100 of 210