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    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

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    Seyi Makinde sympathizes with traders over Alesinloye market fire incident in Ibadan

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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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Apapa area one command records over N1.8trn revenue

Friday, 8 November 2024, 10:42 am
in Business
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Apapa area one command records over N1.8trn revenue
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The Apapa Area One Command of the Nigeria Customs Service (NCS) announced on Monday that it has collected over N1.8 trillion in revenue for the first ten months of 2024. This represents a remarkable 101% increase compared to the N933.4 billion collected during the same period in 2023. Notably, this performance includes the highest monthly revenue in the command’s history, with N250.4 billion generated in October.

Speaking to reporters in Lagos, the Command’s Area Comptroller, Dr. Babatunde Olomu, expressed optimism that the command is on track to exceed its 2024 revenue target of N2.2 trillion.

In addition to its impressive revenue achievements, the command seized six containers of expired pharmaceutical products, which have been handed over to the National Drug Law Enforcement Agency (NDLEA). Olomu stated, “Despite a noticeable decline in trade volume, this command has blocked revenue leakages and maximized collection.” He added, “From January to October 2024, we generated a total of N1.875 trillion, surpassing last year’s figure by 101%.”

Olomu also highlighted the command’s commitment to efficiency, noting that the Apapa Command has embraced trade facilitation tools, such as the Authorized Economic Operator (AEO) program and Advanced Ruling. Furthermore, the command operates on weekends to expedite cargo delivery, aligning with the Federal Government’s Ease of Doing Business initiative.

Recently, the command facilitated the first shipment of cargo to Kenya under the African Continental Free Trade Area (AfCFTA) regime, demonstrating its role in promoting intra-African trade.

Olomu emphasized the strong collaboration with sister agencies, as six containers of unwholesome and improperly declared pharmaceutical products will be transferred to the National Agency for Food and Drug Administration and Control (NAFDAC) and the NDLEA. These items, which include unapproved dosages of tramadol and codeine-laced cough syrups, pose health risks and violate Nigeria’s Common External Tariff (CET) Schedule 3 and Section 233 of the NCS Act 2023.

Since January 2024, the command has made over 36 seizures of various prohibited items valued at over N1.5 billion. These include used clothing, frozen poultry, tramadol, and other unregistered pharmaceuticals.

Vivian Ifunanya Gerald

Engineer, Entrepreneur, forex trader and Analyst

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