The Nigeria Customs Service, or NCS, Tin-can Island Port Command, said that it had exceeded its income target for the first quarter of 2024 (Q1’24) by 139%, collecting a total of N304 billion as opposed to N127 billion during the same time in 2023.
Additionally, the Command reported that, in comparison to 145,906.33 metric tons recorded during the same period in 2023, it experienced a 72.5 percent rise in the number of commodities exported from the Command, totaling 251,679.89 metric tonnes of cargo in Q1’24.
Due to the aforementioned, the Free On Board (FOB) value of exports increased by 300 percent for the first quarters of 2023 and 2024, from N80.9 billion to N287.8 billion, respectively. In addition, the Command’s revenue collection during the first quarter of 2024 exceeded that of the previous year by 139%.
This was revealed by the Command’s Customs Area Controller, or CAC, Dera Nnadi. She stated that goods exported from the Command include agricultural products as well as other related goods including cashew nuts, cocoa butter, and cocoa beans.
Nnadi provided a breakdown of the command’s revenue collection, stating that N88.4 billion was collected in January 2024, a 107.9% increase over the N42.5 billion earned in the same month the previous year.
He also revealed that in February 2024, the command collected N100.4 billion, a 141.8 percent increase over the N41.5 billion collected during the same period in 2023. In March 2024, the command recorded N115.1 billion, a 163.9 percent increase over the N42.8 billion collected in March 2023.
Nnadi expressed gratitude to the management team and Comptroller General of Customs, B. Adeniyi, for their unwavering support in helping the Service fulfill its statutory responsibilities in accordance with global best practices. The management team and Comptroller General of Customs have been instrumental in strengthening the Service’s capacity.