Friday, November 22, 2024
Home Business CUSTOMS CG PROVIDES STRATEGIES FOR MEETING 2024 REVENUE TARGET.

CUSTOMS CG PROVIDES STRATEGIES FOR MEETING 2024 REVENUE TARGET.

The Comptroller General  Nigeria Customs Service Adewale Adeniyi  has  emphasized the need to build trust when collaborating with other government agencies to achieve objectives.
The CG made this known when  briefing  the Revenue Mobilisation and Fiscal Commission (RMFC) on its various activities, procedures, and measures aimed at increasing revenue generation, fiscal efficiency, and blocking revenue leakages in Abuna
The CGC, pleaded  for support from the commission and other agencies, revealed that since his appointment in 2023, the service has taken significant steps in revenue recovery and addressing areas of possible revenue leakages.
He disclosed that there are agencies with legal provisions to stay at the port, and the NCS is actively collaborating with them to streamline processes, ensuring their presence doesn’t hinder trade facilitation.
However, he clarified that the goal is not to assign blame but to reduce the time and cost of conducting business in ports. “Looking at the target of 5.1 trillion naira, every naira and kobo we can collect, block, remit is very important,” he emphasized.
“In two weeks, a Time Release Study will be conducted in collaboration with the World Customs Organization (WCO) and other international partners to obtain a scientific study of clearing cargoes from the port.”
The CGC also announced the upcoming launch of a revenue recovery exercise initiated in 2023, which recovered over 17 billion naira within four months. He assured that the service would implement lessons learned from the beginning of 2024, particularly strengthening the Post Clearance Audit (PCA) Unit.
Addressing challenges, Assistant Comptroller-General of Customs in charge of Tariff and Trade Caroline Niagwan outlined issues contributing to the 2023 shortfall.
In her paper presentation, Chief Superintendent of Customs (CSC) Ekanem Asuquo highlighted NCS’s core functions, the legal framework, and the need to calculate import duties accurately for proper payments.
The Chairman of the Revenue Mobilization Allocation and Fiscal Commission,  Bello Shehu, emphasized the Commission’s role in monitoring NCS activities. He sought NCS support to recover funds, improve revenue mobilization, block leakages, and advise the administration on measures to increase revenue generation for the Federation.
In collaboration with the Service, Revenue allocation and fiscal commission  boss  expressed the Commission’s desire to investigate and recover unremitted funds, enhance training and manpower development, reduce non-compliant waivers, and participate in programs promoting revenue mobilization, such as retreats and workshops.
RELATED ARTICLES

FCCPC ALERTS OF LOW-QUALITY SUGAR IN NIGERIAN MARKETS.

 The Federal Competition and Consumer Protection Commission (FCCPC)  says it has uncovered the availability of substandard and unregistered sugar products in Nigerian markets, particularly...

TAX REFORM BILL: FREE ZONE OPERATORS REJECT KEY PROVISIONS

TAX REFORM BILL: 98 operators from Nigeria’s Export Free Zones has raised strong objections to certain provisions of the President Bola Tinubu-led Federal Government’s proposed...

NAICOM,  EFCC COLLABORATES  TO SANITISE INSURANCE SECTOR IN NIGERIA.

The National Insurance Commission (NAICOM) and the Economic and Financial Crimes Commission (EFCC) is set  to strengthening partnership  as a crucial step towards creating...

Most Popular

LOKPOBIRI HAILS PRODUCTION GAINS AT ABIGAIL JOSEPH FPSO, TARGETS 100,000 BPD OUTPUT.

Nigeria's quest to boost crude oil production is making significant strides, as the Abigail Joseph Floating Production Storage and Offloading (FPSO) facility, operated by...

FCCPC ALERTS OF LOW-QUALITY SUGAR IN NIGERIAN MARKETS.

 The Federal Competition and Consumer Protection Commission (FCCPC)  says it has uncovered the availability of substandard and unregistered sugar products in Nigerian markets, particularly...

FG REITERATES COMMITMENT AND RESILENCE TO  DEFEAT BANDITRY AND TERRORISM-BADARU .

The Honourable Minister of Defence , Mohammed Badaru Abubakar  has called  on the Nigerian Airforce to intensify the use of their various platforms to...

TAX REFORM BILL: FREE ZONE OPERATORS REJECT KEY PROVISIONS

TAX REFORM BILL: 98 operators from Nigeria’s Export Free Zones has raised strong objections to certain provisions of the President Bola Tinubu-led Federal Government’s proposed...

Recent Comments