Nigerian Customs Command Reports Impressive Revenue Growth in Q1 2024
The Port & Terminal Multipurpose Limited (PTML) Command of the Nigeria Customs Service has announced a significant increase in revenue collection for the first quarter of 2024. According to Muhammad Yakubu, the command’s Public Relations Officer, the PTML Command collected N66.9 billion in revenue during the January-March period.
Compared to the N44.7 billion collected in the same period last year, this represents a remarkable 49.6 percent increase, amounting to a difference of N22.1 billion. Saidu Yusuf, the Customs Area Controller in charge of the command, hailed the revenue growth as a laudable achievement.
Yusuf attributed the impressive performance to the command’s unwavering commitment to facilitating trade and supporting the government’s efforts to promote ease of doing business. He expressed gratitude to the Nigeria Customs Service management for initiating strategies that have enabled faster cargo clearance processes.
The Customs Area Controller further revealed that the PTML Command, under his leadership, aims to surpass its existing record of three-hour cargo clearance for compliant traders. Initiatives such as the ongoing time release study and deliberate efforts by the Comptroller General of Customs, Adewale Adeniyi, have contributed to the expansion of terminal space and the enhancement of ease of doing business at the PTML Command.
“PTML Command has the potential to achieve a two-hour cargo clearance and surpass its existing three-hour records if port users’ compliance level is improved upon,” Yusuf stated.
The PTML Customs boss described the command as one of the safest and most secure environments for roll-on-roll-off and general cargoes. He encouraged importers and their agents to take advantage of the incentives available for compliant traders, such as fast track, advance rulings, and the possibility of migrating to the Authorized Economic Operator status.
Yusuf also highlighted the robust and time-conscious dispute resolution mechanism, which he claims has significantly contributed to the command’s revenue collection, trade facilitation, and anti-smuggling functions.
Commending the government and private sector stakeholders for their cooperation and support, Yusuf expressed optimism that the command would exceed its annual revenue target for the year. He condemned the importation of vehicles meant for Nigerian roads into neighboring countries with the intent to smuggle them through unapproved routes into Nigeria, describing it as unpatriotic and an act of economic sabotage.
Yusuf urged officers of the command to maximize the available technology and rededicate themselves to their duties to achieve even more in the second quarter and the first half of the year.
