Customs’ revenue profile drops by 2.05% to N833.4bn in 2013

The revenue profile of the Nigerian Customs Service (NCS) witnessed a slight drop to N833.4 billion in 2013 from the N850.9 billion generated by the service in 2012, according to the performance report released by service.

The sum, which is the money collected from duties, fees and levies, was N17.5 billion less than the N850.9 billion realised in 2012, representing a 2.05 percent drop.

Also, the service impounded N8.5 billion worth of goods that entered the country through illegal routes in the year under review, N3.1 billion higher than the N4.6 billion recorded in the previous year. Rice and vehicles were the most seized commodities during the period.

According to the performance report, the seizures were made at the seaports, airports and border posts, adding that the cost of the seized goods was their market values and the duty that ought to have been paid on them if imported through the right channel.

A breakdown of the revenue collected in 2013 shows that N387 billion was collected as cash on import duty; N68.9 billion was collected from Negotiable Duty Credit Certificate import duty; N24.4 billion was collected from excise duty; N1.8 billion from fees; N21.4 billion from ‘CET’ special levy, and N329.1 billion from levies collected on behalf of agencies.

The revenue collected on behalf of agencies include N30.50 billion for port levy; N4.8 billion for sugar levy; N38.3 billion for wheat grain levy, and N313.5 million for wheat flour.

Other collected agency fees, according to the report, are N10.3 billion rice levy; N584.9 million steel levies, and N22.1 million wine. Also collected were N90.8 million for textile; N830.6 million for cement; N913.6 million for cigarette, and N13,505 for National Automotive Council levy.

The report further revealed that some special levies, including Comprehensive Import Supervision Scheme and National Export Supervision Scheme, accounted for N44.1 billion. The value of the goods was N7.1 billion while the duty payable on them was N1.4 billion.

By: Uzoamaka Anagor