Economy

Nigerian Customs Service Generates Q1 Q1 Turnover of N466.1 Billion

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Nigerian Customs Service Generates Q1 Q1 Turnover of N466.1 Billion

By Mustapha Sumaila

The Nigerian Customs Service (NCS) generated N466.1 billion in the first quarter of 2021.

Statistics obtained Tuesday by the Nigeria News Agency (NAN) from the office of the service’s public relations officer, Mr. Joseph Attah, show that the revenue was generated from January to March.

Data shows that the NCS achieved the highest revenues in March with 169.4 billion naira, followed by January with 157.6 billion naira while the sum of 138.9 billion naira was generated in February.

The document showed that Customs achieved the highest revenue of N 216.9 billion during the review period from import duties.

According to statistics, import duties are followed by customs VAT which is 105.2 billion naira and levies on non-federated accounts of about 55.5 billion naira.

The document showed that 50.8 billion naira was generated by withdrawals from the accounts of the federation, while 34.5 billion naira came from excise duties as well as 2.8 billion naira from fees.

Likewise, statistics revealed that during the period under review, the service seized various contraband goods valued at 1,996,145,258 naira.

The document said customs confiscated 37,206 bags of imported rice from January to March. (NOPE)

(NAN)

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