Why Customs may miss N1tr revenue target
From
all indications, the Nigeria Customs Service’s (NCS)self-imposed
revenue target of N1 trillion for 2016 may not be met if monthly income
remains at the present average of N50 billion, as disclosed by the NCS
Comptroller-General, Col. Hameed Ali (rtd).
The
agency had in January set a target of N1 trillion annual revenue (about
N83 billion monthly), which would be a modest N46 billion higher than
the 2015 generated revenue of N954 billion. However, the agency
disclosed that its average monthly revenue has now dropped to about N50
billion.
Speaking
during his courtesy visit to the District Head of Gwadabawa in Sokoto
State, Lawal Zayyana, Ali attributed the drop to the low domestic and
international trade, as well as the nation’s dwindling foreign reserve.
He
further lamented the crippling effect of smuggling on the nation’s
economy, stating that “the only solution remains focusing more attention
on mechanised farming to make Nigeria self-sufficient in food
production.”
Nevertheless,
he assured that the agency would continue the fight to end smuggling,
especially of arms and illicit drugs, while soliciting the support of
the local community to make the efforts of the officers and men of the
service at policing the nation’s nearly 4,070-kilometre borderline more
effective.
However,
the Sultan of Sokoto, Muhammad Sa’adAbubakar III, has urged the NCS to
consider lifting the ban on rice importation through the land borders.
The monarch told Ali, who paid him a courtesy visit in Sokoto that the
policy was strangulating Nigerians by worsening the nation’s food
scarcity.
Stating
that he has been receiving complaints over the present hardship, he
urged a review of the policy to lessen the pains of hardshipon
Nigerians.
While
commending government’s renewed efforts to boost domestic production of
grains and assuring ofthe traditional institution’s support,he noted
that “there is no food in the country, so there is the need for the
borders to be reopened for rice importation through land borders,”
online maritime platform, Ships&Ports, quoted him as saying.
On
his part, Ali said the agency would forward the request to the
appropriate quarters, adding that as a Federal Government policy, it
does not start and stop on his table.
Ali,
who came with high hopes on assumption of office last year, had
declared a mission to reform and restructure the agency, and to increase
revenue for the Federal Government by “blocking all leakages and making
sure that our system works perfectly,”while hopingthat government
policies would also favour that.
Unfortunately,
that did not happen, as the apex bank’s forex restriction to some 41
import items, the weakening of the naira against other major currencies,
as well as the diversion of imports to neighbouring countries’ ports in
reaction to high import charges, among others, have caused the agency
to lag far behind in its revenue target.
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