Adeniyi: NCS Generated N1.35 Trillion in Q1 2024

Recorded total of 572 seizures Rice constitutes 39%, petroleum products 26%

Nigeria Customs Service (NCS), yesterday, said in the first quarter of 2024, it demonstrated remarkable performance in revenue collection, collecting a total revenue of N1,347,675,608,972.75. Comptroller General of NCS, Adewale Adeniyi, disclosed this during the first quarter performance briefing by the service in Abuja.

The collection for the first quarter, the NCS boss stated, represented a substantial increase of 122.35 per cent, compared to the same period last year, were N606,119,935,146.67.

He said month-by-month analysis illustrated the service's impressive growth trajectory, stating, "In January 2024, revenue collection surged by 95.60 per cent, reaching N390,824,148,326.55 from N199,809,974,327.52 recorded in January 2023.”

Adeniyi explained that the upward trend continued in February 2024, with a staggering 138.68 per cent growth, elevating revenue collection to N450,209,267,557.15 from N188,625,011,386.87 in February 2023.

He said, "By March 2024, the revenue collected by NCS revenue grew by 132.76 per cent from

N217,669,949,432.28 to N506,642,193,019.05. When compared to the federal government's annual revenue target of N5.07 trillion for the NCS to collect in 2024, the target translates to a monthly revenue target of N423 billion."

According to him, "We are pleased to report an average monthly revenue growth of 6.2 per cent over the set monthly target and a cumulative revenue collection of 18.6 per cent, equivalent to N78,675,608,972.75 over the set quarterly target of N1.269 trillion.

"On suppression of smuggling, in the first quarter of 2024, the NCS recorded a total of 572 seizures, encompassing various items valued at N10,593,099,654.50 in Duty Paid Value (DPV). Notably, January saw 111 seizures amounting to NGN 842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totalling N3,704,703,350.34.

"Rice constituted 39 per cent of the seizures, followed by petroleum products at 26 per cent, with motor vehicles and textiles accounting for nine per cent and six per cent of the seizures, respectively. During this period, the NCS detained 22 suspects, and appropriate legal measures will be taken in accordance with the Nigeria Customs Service Act 2023."

Speaking on trade facilitation, the custom boss maintained that it remained a central focus of the NCS operations. Adeyeye stated, "Despite inherent challenges, we have diligently worked towards streamlining processes, minimising bottlenecks and optimising efficiency across our ports to ensure seamless trade transactions.

"In the First Quarter 2024, the NCS processed a total of 311,492 Single Goods Declarations (SGDs) for imports, reflecting the volume of import transactions handled. This figure indicates a decrease compared to the total volume of 327,491 processed in 2023 and 403,233 SGDs in 2022. Regarding export transactions, a total of 10,786 SGDs were processed in 2024 compared to 9,752 transactions in 2023, representing a 10.60 per cent growth in export activities.

"Notably, a significant portion of this growth occurred in January, with 4,067 transactions processed in 2024 compared to 3,352 SGDs in 2023, marking a 29.69 per cent increase.

“The service is particularly interested in the growth of the non-oil export sector, aligning with the priorities of the President Bola Ahmed Tinubu led administration and the initiatives pursued by NCS in recent times.”

Adeyeye also stated that several deliberate factors contributed to the successes around NCS key performance indicators. He said it was important to acknowledge the dedication and efforts of the officers and men of NCS who had worked tirelessly and around the clock to ensure consistent and upward momentum.

He stated, "NCS officers have played a key role in driving the implementation of initiatives, as evidenced by our performance across the three core statutory responsibilities set by the government.

“Among these initiatives is the introduction of the E-auction generating a total revenue of N1.6 billion in February and March."

Adeniyi said NCS was actively implementing various measures to address the challenges and one notable initiative was the integration of geospatial technology alongside the utilisation of satellite imagery and artificial intelligence tools and techniques.

He added that these efforts were initiated upon assuming office to combat the longstanding issue of smuggling and enhance NCS's enforcement capabilities for effective monitoring of Nigeria's extensive 4,000 kilometres borders.

"Additionally, this initiative will establish a command and control centre to monitor activities along our borders comprehensively," he said.