The Nigerian Customs Service (NCS) has said it recorded a 66.5 percent increase in revenue collection in four months, between July and October 2023.
The Comptroller-General of Nigeria Customs Service, Mr Adewale Adeniyi, made this known on Wednesday in Abuja at a national workshop on legislative compliance, themed, “The imperatives of legislative compliance in deepening democracy and good governance.”
He said the service generated an average revenue of N202 billion in the first half of the year, but by October, the monthly revenue collected had reached N333.9 billion, indicating a 65.5 percent increase.
Adeniyi attributed the rise in revenue collection to the partnership of the service and the National Assembly that led to the review and enhancement of tariff structures and regulations.
He also noted that the NCS had managed to optimise revenue collection and ensured that funds were available for national development projects.
“One of our early achievements has been a remarkable boost in monthly revenue collection.
“I am delighted to announce that we have consistently exceeded the monthly target collection of N307 billion, marking a remarkable departure from previous performances.
“The joint efforts of the NCS and the legislative arm of government have allowed us to respond effectively to public concerns and petitions,’’ he said.
Speaking on challenges of the Service, Adeniyi said budgetary constraints were a major issue which had limited the service’s capacity to enforce compliance.
He explained that budgetary limitations affected the acquisition of modern technology and the organisation of training and recruitment of personnel required for effective enforcement.
Adeniyi further noted that inadequate infrastructure and technology at border posts could impede the Customs Service’s ability to inspect and regulate trade effectively, thereby creating room for non-compliance.