Tincan Customs Generates N303.9bn in First Quarter of 2024
Comptroller Dera Nnadi, the Customs Area Commander (CAC), Tincan Island Ports (TCIP), says that the command generated a revenue of N303.9 billion in the first quarter (Q1) of 2024. Nnadi said in a statement on Wednesday in Lagos that the Q1 revenue generated in 2024 was 139 per cent greater when compared with revenue of the same period in 2023.
In the statement signed by NN Okwara, the Public Relations Officer of TCIP, the customs area commander said that the difference in revenue between Q1 2024 and Q1 2023 was N177 billion.
“The command recorded a total collection of N303.9 billion revenue in the first quarter of 2024, as against N126.8 billion recorded in the same period of 2023.
“The breakdown shows that the command collected a total of N88.4 billion in the month of January 2024 which is 107.9 per cent upscale from the same period of 2023 which was N42.5 billion,” he said. The customs CAC said further that the command also generated N100.3 billion in February 2024, which is 141. 8 per cent higher than the revenue collected in the same period in 2023 which was N41.5 billion.
He explained that in March 2024, the command collected the sum of N115.1 billion revenue, as against N42.8 billion collected in the same period of 2023. Nnadi expressed gratitude to the officers for their commitment to providing services to the stakeholders and for their collaborative efforts, which led to a rise in revenue collection.
He said: “The improvement and success is due to the efforts put in place by all units in the Area Command, adding that their efforts are highly appreciated. I wish to remind the officers that all stakeholders should be held in high esteem and treated with respect but with due diligence to identify compliant and non-compliant traders.”
He noted that the Enforcement and Anti-Smuggling Unit had not relented in its effort to combat smuggling and all forms of criminality. The customs boss stressed that under his supervision, the Customs, being the lead agency at the Ports, had through its enforcement unit coordinated several 100% physical examination in collaboration with critical stakeholders.
He said that these were to ensure that the command was free of any form of non-compliance in line with the international trade cycle. Nnadi said that, in the period under review, a total of 57 packets of Heroine weighing 56.390kg with a street value of ₦902.24 million were seized.
He added that 3612 packets of Colorado Indica weighing 956.772kg with a street value of ₦4.06 billion were also seized.
“All the seized illicit drugs have been handed over to the relevant sister agencies as directed by the service.
“In the past few months, the command has hosted different sections of the stakeholders’ forum – shipping companies, terminal operators, freight forwarders, security agencies, etc. Nnadi said that the meetings, both physically and virtually, have been on modalities to automate communication channels to minimise revenue loss and boost rules of engagement.
“The Command has not relented on its efforts to ensure that its aim is achieved in its efforts to create a level playing field for importers and stakeholders by decongesting the Ports.
“The Command encouraged stakeholders’ approach for the establishment of new terminals and activities have long commenced at the terminals, respectively,” he said. The customs boss said that in terms of volume (mT) and value (FOB), export trade recorded exponential growth within the same period under review.
“Comparatively, tonnage of goods exported via TCIP increased from 145,906.33 mT in 2023 to 251,679.89 mT in 2024 and represents an increase of 95.3%. Also, there is an over 300% increase in the FOB value of the exports from N80.993 billion to N287.79 billion of Q1 2023 and 2024 respectively.
“Exports from the Command include essentially agricultural and other allied products, namely Cocoa Butter, Cocoa Beans, Cashew Nuts, etc,” Nnadi noted. He commended the Comptroller-General of Customs, Bashir Adeniyi, for his management team and continuous efforts towards strengthening the capacity of the service.
He added that the customs comptroller -general had also introduced innovative methods to perform its statutory responsibilities in line with international best practices. #Tincan Customs Generates N303.9bn in First Quarter of 2024 Naira Suffers Big, CBN Goes Ballistic Against FX Whales
