Customs Collects N71.8bn on Oil & Gas Imports

The Port Harcourt II Area Command of the Nigeria Customs Service (NCS) said that it collected total revenue of over N71.8 billion between January and September 2017, from oil and gas imports. 

The NCS also said there has been a 52 percent drop in oil and gas imports in the command, although there have been a 45 percent increase in revenue generated from other sources. 

The Port Harcourt II Area Comptroller, Mr.Abubakar Bashir, during a press conference in Onne, Rivers State, lamented that there has been a steady decline in the quantity and value of imports in the oil and gas sector due to recession. According to him, there has been a 70 percent decline in the revenue accruable from the sector. 

Bashir stated that in the period under review, the command has recorded a tremendous feat in its anti-smuggling activities, as it has made a total of 23 seizures with a duty paid value of N446.3 million, and N23.6 million on three containers carrying imported rice. 

He explained that the command has generated about 63.85 percent of its annual budget, and expressed optimism that it will surpass its target of N112.5 billion at the end of the year.