The Nigeria Customs Service says it generated NGN 1,347,675,608,972.75 revenue, which represents a substantial increase of 122.35% compared to the same period last year, where NGN 606,119,935,146.67, was generated.
The Comptroller General of Customs, Adewale Adeniyi, who made the disclosure in Abuja on Wednesday while addressing Journalists on the activities of Customs in the first quarter of the year revealed that 22 suspects were nabbed in the period under review.
Galaxy tv reports that the Comptroller General of Customs revealed that the collection for the first quarter represents a substantial increase of 122.35% compared to the same period last year, where NGN 606,119,935,146.67.
He maintained that when compared to the Federal government's annual revenue target of NGN 5.07 trillion for the Niheria Customs Service to collect in 2024, the target translates to a monthly revenue target of NGN 423 billion.
Adeniyi added that In the first quarter of 2024, the Nigeria Customs Service recorded a total of 572 seizures, encompassing various items valued at NGN 10,593,099,654.50 in Duty Paid Value.
According to him, February marked the highest seizure numbers of 432, totalling NGN 3,704,703,350.34, Rice constituted 39% of the seizures, followed by petroleum products at 26%, with motor vehicles and textiles accounting for 9% and 6% of the seizures, respectively.
He identified issues relating to non-compliance with regulations, infrastructure limitations, and a notable decline in cargo throughput, evidenced by a 4.89% decrease in the volume of transactions handled, some of the challenges encountered by the Service during the period under review.
Adeniyi said the Customs is actively implementing various measures to address these challenges adding that, one notable initiative is the integration of geospatial technology alongside the utilization of satellite imagery and artificial intelligence tools and techniques.
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