You are here
Home > News > Nigerian Customs generated N720bn in 2016- Ali

Nigerian Customs generated N720bn in 2016- Ali

Social media sharing

  • Stakeholders thumbs figure down when compared to Dikko’s Customs
  • As South-west Govs set up joint task force on Security

The Comptroller-General of Customs, Col. Hameed Ali (retd), on Monday told the Senate that the Nigeria Customs Service under his watch generated only N720 billion in 2016.

Hameed Ali who made the disclosure while defending the budget of the service before the Senate Committee on Customs, Excise and Tariff on Monday in Abuja, blame several factors, including the absence of scanners at the ports and the inability to raise duty on some luxury goods.

”The shortfall in the performance is due to the fact that no revenue was collected on luxury items and polished rice levy because of lack of legal backing to enforce collection of luxury items and no importation of polished rice.

”Also responsible is restriction of 41items from accessing foreign exchange at official window as well as high exchange rate of Naira  against other foreign currencies increased the tax base of goods imported and reduced volume of trade”, he stated, while undergoing a subsidiary budget defence for Nigeria Customs Service as a revenue generating agency of government.

Ali said that the approved revenue target for 2016 was N937 billion comprising of 862 billion for the federation and N75 billion for non-federation.

He added that the service, however, collected total revenue of N720.7 billion or 77 per cent during the period.

Social media sharing

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.