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Wow! See How Much Nigeria Customs Generated As Revenue In 2016

Posted by Samuel on Tue 10th Jan, 2017 - tori.ng

The total amount of money generated by the Nigeria Customs Service as revenue in the past year, has been revealed.

Nigeria Customs Service officials

The Nigeria Customs Service has generated N898 billion as revenue in 2016, including VAT, says the service Spokesman, Mr Joseph Attah.

Attah told the News Agency of Nigeria (NAN) on Monday in Abuja that the figure was however less than the N904 billion collected in 2015.

He attributed the shortfall to the difficulty in accessing foreign exchange and removal of the 41 items.

According to him, the service was given a target of N937 billion as revenue in 2016.

“The strict insistence of the Comptroller General on application of instant laws enabled the service to generate a total that is inclusive of VAT of N898 billion.

“If VAT is removed, duty collection only is N720 billion, our performance represent a percentage of 76.90 per cent.

“Hopefully we will do better in 2017,’’ Attah said.

According to him, the comptroller General in recent time had taken steps to effect some redeployment in a bid to strengthen operations and reposition the service for improved delivery.