Senate To Increase Nigeria Customs’ Revenue Target

By - LagosCityReporters 6 February 2024 Comments (0) 2 Mins Read

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The Nigeria Customs Service (NCS) may see an increase in its revenue target of N5.079 billion, as the Senate is currently considering this proposal.

The move, which was targeted in the second half of the year 2024, is aimed at alleviating the need for further borrowing in the country.

This development was made open in a meeting with the Comptroller General of the NCS, Adewale Adeniyi, and other top officials, where the Chairman of the Senate Committee on Customs, Senator Isah Jibrin, emphasized the importance of revenue-generating agencies in boosting the economy.

Senator Jibrin also addressed the issue of high unemployment rates, stating that Customs is not the sole provider of jobs and that they should only employ a number of people they can adequately support.

However, there is pressure for them to surpass the current benchmark of 1,600 employees.

In response to inquiries from lawmakers, the CG of NCS revealed that the service is seeking government approval to grant waivers to owners of smuggled cars, allowing them to regularize their Customs duties payment.

He revealed that individuals who have vehicles that were illegally imported into the country or have unpaid duties will have a three-month opportunity to visit the Customs House for assessment and payment of duties.

He guarantees that this process will be carried out after sufficient publicity to ensure that those in this predicament can rectify their situation by paying the required duties.