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Home Economy/Technology

N5.7 trillion Customs Revenue in 11 Months, yet another evidence of Tinubu’s economic reengineering – TDF

Customs

The Matters Press by The Matters Press
November 17, 2024
Reading Time: 2 mins read
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The Democratic Front (TDF) is thrilled by the heartwarming report that the Nigeria Customs Service has met its revenue target of N5.7 trillion even before the end of the year 2024.

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In a statement signed by its Chairman Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, the group described it as a remarkable feat on the back of efforts by the President Bola Tinubu administration to boost the non-oil sector.

It read partly, “We consider this feat remarkable, against the backdrop of the ongoing reforms of President Bola Ahmed Tinubu to improve the operational efficiency of the Nigerian Customs Service, especially in its focus on partnership-driven approach to revenue collection and trade facilitation, as recently confirmed by the Comptroller-General, Adewale Adeniyi.

“It is even more exciting for us to acknowledge and commend the Customs Service for exceeding its 2024 projection of N5.1 trillion in 11 months.

“We see the feat as partly as a result of President Tinubu’s Port reforms, which metamorphosed into various modernization initiatives, streamlined clearing processes, and enthroned innovative risk management practices in the Nigerian Customs Service.

“We are also aware that the Federal Government’s directive on 24 – hour cargo clearance at major ports has significantly reduced cargo dwell time, minimized the risk of demurrage on the part of importers, and shortened the timing for cargo clearance at the ports.

“Furthermore, we laud the brilliant idea to introduce the Authorized Economic Operators Scheme into cargo clearance routine in the ports, and the Advance Ruling System, which have offered predictive rulings to stakeholders in engaging port processes and services, coupled with the deployment of non-intrusive inspection technology in managing risks and maintaining stringent control at the Port Terminals.

“We are convinced that these are part of the key measures behind the improved revenue generation capacity of the Customs Service under the Tinubu administration.

“Based on a careful assessment of the ongoing economic reforms of President Tinubu, we have no doubt that the success recorded by the Customs Service, will be replicated in other high revenue generating bodies like NNPCL, FIRS, NPA, and NIMASA. because the reforms are not only sweeping but also far-reaching and effective.”

TDF called on Nigerians to eschew sentiments and support the Tinubu administration in its bid to make Nigeria a better place for all to live.

End

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