Border Closure: Customs Rake N5 Billion Revenue Daily

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Despite the fact that the nation’s borders have been shut down, Nigeria Customs Service has announced that it is raking N5 Billion revenue on daily basis.

The Comptroller-General of the Customs, Hameed Ali stated this yesterday while addressing the Senate and House of Representatives joint committees on Finance and National Planning, working on the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper.

According to him, the agency has been raking in between N4.7bn and  N5.8 bn since the Federal Government closed the nation’s borders.

The joint panel had summoned the Central Bank of Nigeria Governor, Godwin Emefiele and the Controller-General of the Nigerian Immigration Service, Muhammed Babandede, to appear before it on Thursday.

The heads of the two agencies are expected to brief the joint panel on the MTEF / FSP documents.

The NCS boss, had while addressing the lawmakers said the land border closure was a blessing to the nation.

He said, “When we closed the border, my fear was that our revenue was going to drop. To be honest, our revenue kept increasing.

“There was a day in September that we collected N9.2 billion in one day. It has never happened before.

“This is after the closure of the border and since then, we have maintained an average of about N4.7 billion to N5.8 billion on a daily basis which is far more than we used to collect.

“What we have discovered is that most of those cargoes that used to go to Benin (Republic) and are then smuggled into Nigeria (now come to us).

“Now that we have closed the border they are forced to bring their goods to either Apapa or Tin Can Island and we have to collect duty on them.

“If that (border closure) would continue, to us, it is a welcome situation. Our revenue has not reduced. As a matter of fact, it is increasing as a result of the closure of the border.

“About 10.2million litres of fuel have now been cut down from what we assume, we have been consuming. “

DailyTrend

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