By Bayo Bernard Business Editor
The initial fears that the Nigerian Customs Service, NCS may not surpass the revenue target of N1.3 tr. for the 2018 fiscal year appears to be declining. The federal government has set the target for the Col. Hameed Ali-(rtd) led service in this year’s budget.
For the year ending 2017, the service surpassed its revenue target of N1.2 billion by over N10 billion.
In 2016, the Customs revenue target was N937 billion but the service only net N898 billion; while in 2015, the Service’s target was N954 billion but it only generated N903 billion.
In 2014, Customs’ target was N1.2 trillion but it collected N977.09 billion.
Therefore, If feeler coming from the NCS that its revenue is heading north ward is anything to go by, the shock experienced due to the half year revenue profile seems to be pointing to a bright end of the year results, experts say.
According to a press statement made available to the magazine, signed by its spokesman, Joseph Attah, a deputy Controller of Customs, the service has shattered the revenue ceiling for the first time in eight months.
The revenue result for the month of August indicates that over N140 billion was generated by the service within the period under review.
This, however, contrast with the average monthly revenue realized for the first half year 2018. Statistics made available to The Source by NCS indicate that the NCS only generated barely N550 billion between January and June this year.
But the August revenue upsurge seems to excite Ali, who while commenting on the issue alluded the revenue success to the renewed effort to re-position the service for sterling performance.
“The implementation of three pronged Presidential mandate of ‘Restructure, Reform and Raise revenue’ in NCS has continued to strengthen the Service as a crucial contributor to National economy and Security,” the customs boss stated.
Adding that ,“The Service has effectively seized 156,090 bags of smuggled rice, 15,632 sets of military wears, 489,000 ammunitions and other items.”
“This is in addition to the highest monthly revenue collection of over N140 billion in August 2018.This positive harvest in the areas of anti-smuggling and revenue generation is a clear testimony of what can be achieved under a selflessly focused leadership,” Ali stated in the statement.
Ali also urged well-meaning Nigerians to support the Service by providing credible information needed to rein in smuggling and generate the needed revenue for national development.