N1Trillion Target: Customs Collects N116 Billion in Two Months

Even as it battles to realize the N1Trillion target for 2012, the Nigeria Customs Service has collected about N116Bilion in the first two months of the year.
Figures obtained by our correspondent yesterday revealed that the service garnered about N51.796Milion in January, while it collected about N64.830Million in February.
 In January, import duty amounted to N25, 652,745,690, excise duty, N4, 106, 816, 317, while other non-federation revenue collected was N20,573, 038, 423, and negotiable duty credit certificate was N2,223,823,000.

Even as it battles to realize the N1Trillion target for 2012, the Nigeria Customs Service has collected about N116Bilion in the first two months of the year.
Figures obtained by our correspondent yesterday revealed that the service garnered about N51.796Milion in January, while it collected about N64.830Million in February.
 In January, import duty amounted to N25, 652,745,690, excise duty, N4, 106, 816, 317, while other non-federation revenue collected was N20,573, 038, 423, and negotiable duty credit certificate was N2,223,823,000.
But, in February, import duty collected rose by about N8Billion to N33, 525,586,606 while excise duty dropped to N3, 318,075,313.
Other non-federation account levies increased to N26, 5575,589,454 while the negotiable duty credit certificate also increased to N4, 352,250,674.
Shipping Position Daily recalls that the service was given an unprecedented revenue target of N1Trillion for 2012.The Service collected about N741.836Billion, which is about N148 billion over the target of N596 billion.
To realise the 2012 target, the service has in turn given its various commands monthly target.  In the breakdown,  Apapa port command  has a  monthly target of N27 billion, while Tin-Can Island command and Onne port commands got N22 billion and N10billion respectively, while Port Harcourt I command  was N4 billion. Similarly, PTML command was given a target of N7.5 billion, Lilypond, N5 billion and Kirikiri Lighter N5 billion.
The service has been under fire from importers and licensed customs agents over what they refer to as the desperation by the Customs to meet the N1Trillion target.
They criticized the recently- introduced duty benchmark, which the importers and their clearing agents have described as a ploy by the Customs Comptroller General, Alhaji Dikko Abdulahi Inde to meet the unprecedented target at all cost.