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    MarketForces Africa » MarketForces News » NCS Generates N1.02trn in First Half 2024

    NCS Generates N1.02trn in First Half 2024

    Olu AnisereBy Olu AnisereJuly 9, 2024 News No Comments3 Mins Read
    NCS Generates N1.02trn in First Half 2024
    The Customs Area Controller, Apapa Command, Babatude Olomu.
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    NCS Generates N1.02trn in First Half 2024

    The Nigeria Customs Service (NCS) has generated N1.02 trillion at its Apapa Area Command in the first half of the year.

    The Customs Area Controller, Apapa Command, Babatunde Olomu, disclosed this at a news conference in Lagos on Monday.

    He said that the figure represented a 143 per cent increase over the N421.38 billion generated during the same period in 2023.

    Olomu highlighted that the agency’s efforts at promoting and facilitating trade were yielding significant results.

    “Our efforts have been mainly targeted at preventing revenue losses, improving ease of doing business, and engaging stakeholders,” Olomu said.

    He noted that the command generated the amount in spite of a sharp reduction in trade volume.

    “We have implemented measures to prevent government revenue loss by using a blend of intelligence and community relations,” he added.

    Olomu said that during the review period, the command intercepted 11 containers of regulated items, such as expired drugs, contraband goods, and frozen birds worth N424 million, compared to 42 seizures with a Duty Paid Value (DPV) of N1.4 billion in the corresponding period of 2023.

    “These seizures were made from dishonest importers attempting to smuggle goods into Nigeria,”she stated.

    The News Agency reports that the command uncovered a large quantity of expired and unregistered pharmaceuticals in three 40ft containers.

    It also uncovered  another three 40ft containers loaded with 7,580 cartons of frozen poultry products unfit for human consumption.

    Olomu explained that these smuggled items violated Schedule Three of the revised import prohibition list of the Common External Tariff (CET) and Section 233 of the Nigeria Customs Service Act 2023.

    He praised the motivation and leadership of the Comptroller General of Customs, Adewale Adeniyi, and thanked his men and officers for their hard work.

    The CAC attributed the command’s successes to support from sister agencies in the port, such as the Nigeria Police, Department of State Services, National Agency for Food and Drug Administration and Control, National Drug Law Enforcement Agency, Standards Organisation of Nigeria, and the Nigerian Army.

    Olomu said that in line with the CGC’s zero tolerance for smuggling, the command has reformed the management of cargoes moving from the mother port to bonded terminals by ensuring more meticulous oversight.

    “No cargo is allowed to exit our control without thorough inspection using the scanner,” he noted.

    He assured that proper cargo inspection would not be compromised, and the command would continue to make seizures, detentions and arrests where necessary.

    This, he added, would help to protect the national economy and prevent Nigerians from exposure to dangerous or unwholesome products like illicit drugs. #NCS Generates N1.02trn in First Half 2024

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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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