Babatunji Wusu –
Nigeria Customs Service (NCS) recently claimed that it will meet the income target of N3.6 trillion in 2023 notwithstanding the shortfall seen in the first half of the year.
Acting Comptroller General Mr. Bashir Adeniyi blamed the lack of revenue collections on the uncertainties, the currency swap, and the general elections in the first half of 2023 while speaking at a global press conference on his 100 days in office in Abuja.
He disclosed that the agency has evaluated its tactics to address these issues and had already recorded monthly averages of N343 billion in July and August as opposed to N200 billion on average.
The head of Customs expressed confidence that the agency’s revenue target of N3.6 trillion for 2023 will be surpassed if it can maintain the momentum from July and August.
“The estimated revenue is N3.6 trillion. It works out to roughly N307 billion every month, which was the goal that was established for us.
“So, if we regularly collect N307 billion for a year, we hope to achieve that. You are all witnesses to what occurred over the first three months of the year, including the unpredictability, the currency switch, and the elections, Adeniyi remarked.
The second part of the year saw an average monthly collection of N202 billion, he stated. Since we reassessed our tactics in July and August, we have been performing better.
Since July and August, there has been an average of around N343 million per month.
“If we can keep up this momentum, we think we can make up for the deficit we experienced in the first half of the year.
“While we do not claim that the goal is insurmountable, we will try our best to make sure that the gaps we identified are filled.”
He had already mentioned that improved monthly revenue collection was one of the NCS’s notable accomplishments while he was in charge.
He claims that there has been a significant growth in the service, with average monthly collections rising from N202 billion in the first half of the year, which ended in June, to an astonishing 343 billion in the most recent two months, July and August.
He pointed out that this exceptional expansion translates into a stunning increase in revenue collection of 70.13 percent.
“I’m happy to announce that we’ve consistently collected more than the monthly target collection of N307 billion, marking a remarkable improvement over prior performances,” Adeniyi added.
“Our dedication to income generation is demonstrated by the additional 8 billion Naira that the current income Recovery review operations have provided during this time. Our objective is to maintain and even build on this momentum through the end of the year, barring unforeseen circumstances.
