National Economy
Wednesday, September 10, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Lead-In

Customs 2022 Import Revenue Increases By 16.33% At Lagos Port

by Yusuf Babalola
3 years ago
in Lead-In
Reading Time: 3 mins read
images-4-11-3-540x340
Share on FacebookShare on TwitterShare on Telegram

The 2022 revenue generated by the Tin-Can Island command of the Nigeria Customs Service (NCS), from cargoes imported into the country has risen by 16.33 per cent, NATIONAL ECONOMY  has learnt.

Speaking in Lagos at a press briefing to announce the performance report of the command between January to December 2022, the customs area controller, Comptroller Olakunle Oloyede, said the command generated N574.3billiion in 2022.

According to him, the 2022 revenue was more that that of 2021 by N80.6billion, saying the increment recorded was a result of reshuffling and redeployment of officers using Strength Weakness Opportunity and Strength (SWOT), analysis.

“The Tincan Island Command ended the year, January to December 2022 with modest achievements in the areas of revenue generation, trade facilitation, enforcement, anti- smuggling amongst others. The modalities put in place guided in the identification of areas of revenue leakages, blocked same and leveraged on available facilities on the NICIS II Platform for enhanced Risk Management Processes (RMP), climaxing in accelerated customs clearance processes, trade facilitation and ensured collection of appropriate duties and taxes.

You May Like

Nigeria, China Strengthen Ties On Maritime Sector Development

PenCom Issues New Pension Fund Reporting Rules

“The command collected a total of N574.3billion between January to December, 2022. This figure when compared to the N493.6billion collected in 2021 indicated an increase of N80.6billion which represents a percentage increase of 16.33 per cent over the previous year’s revenue collection.

“This feat could be attributed to the constant rejiging of the existing measures geared towards sustaining the command’s revenue profile as well as utilisation of some disruptive strategic measures such as periodic capacity building, reshuffling and redeployment of officers using the SWOT analysis, implementation of the Vehicle Identification Number (VIN), valuation, automation of the 846 procedure, re-introduction and the deployment of a non-intrusive Inspection Technology Equipment (NIIT) to the command, proper profiling, system audit, proper recheck or examination and detailed but clearly inputed Inspection Acts,” Compt. Oloyede stated.

He continued, “The command also ensured robust and  continuous stakeholder engagements and collaboration with all government agencies and maritime associations. These led to timely intelligence sharing, utilisation and voluntary compliance to government’s extant laws by the trading public.”

Oloyede, further disclosed that in 2022, the command intercepted 38 different contrabands such as illicit, fake drugs, bales of second hand clothing among others worth over N1.8billion.

He, however, warned importers of illicit and fake drugs to steer clear of the command,  saying processes are on ground to intercept and confiscate importation of illicit goods through the command.

“The command increased surveillance on declarations In order to sniff out improper declarations as well as offending items. This paid off with the command recording a total of 38 seizures with a Duty Paid Value (DPV) of N1.85billion.

“These seizures comprise of 763pkgs of Colarado, Cannabis Sativa weighing 345.1kg with a street market value of N714.6million; 5060 pieces of used motor tyre; 1,150 bales of second hand clothing; 1,190 cartons of 20per cartons of Potassuem Bromate and baking powder; 11,392 cartons of 1200 per carton Armcol Injection Chloroquine Phosphate 322.5mg.5ml (IV and IM); 206,000 pieces of finished matchets; 1383 cartons of 50 rolls per carton of cigarettes and 650 cartons of 50 pieces per carton of new ladies shoes.

“Others are, 2,666 pieces in 36 pallets of New Starter Ex-Premium Inverter Battery; 1980 cartons of assorted non-alcoholic beverages and 1048 cartons of Tilda Basmatic Rice; 2594 pieces of ammunition and 20 pieces of arms comprising of 1 pistol with 611090 (S/W) model JCP 40mm; 1 used Co2 Air Pistol with accessories cal 117(4.5m)BM; 1 Marksman repeater pistol, 6 Mace pepper gun and 10 suspected arms of various types.”

This seizure record when compared to the 2021 record of 27 seizures with a  DPV of  N607million shows an increase of 11 seizures and N1.2billion. The increase in DPV rate could be associated with increased surveillance, intensified anti-smuggling drive, high value of seized items and the naira devaluation which leads to high exchange rate on imported items,” he concluded.

 

 

ShareTweetShare
Previous Post

Where Is The Fighting Ground Of All Fintechs?

Next Post

Turnaround Nigeria’s Economy Needs Now – NE Board Of Economists

ANOTHER GOOD READ

Nigeria, China Strengthen Ties On Maritime Sector Development
Lead-In

Nigeria, China Strengthen Ties On Maritime Sector Development

3 days ago
PenCom Issues New Pension Fund Reporting Rules
Lead-In

PenCom Issues New Pension Fund Reporting Rules

3 days ago
Capital Market Switches To 2-day Settlement Nov 8
Lead-In

Capital Market Switches To 2-day Settlement Nov 8

3 days ago
Aged Fleet, Poor Infrastructure Raise Aircraft Insurance Premium In Nigeria
Lead-In

Aged Fleet, Poor Infrastructure Raise Aircraft Insurance Premium In Nigeria

3 days ago
Nigeria Loses Billions As Seaports Remain Cut Off From Rail Network Cargo Bypasses Rail For Congested Roads
Cover

Nigeria Loses Billions As Seaports Remain Cut Off From Rail Network Cargo Bypasses Rail For Congested Roads

3 days ago
FG Inaugurates Advisory Committee On National Building Code
Lead-In

FG Inaugurates Advisory Committee On National Building Code

1 week ago
Next Post
Cover

Turnaround Nigeria’s Economy Needs Now – NE Board Of Economists

Most Recent

FirstBank Leads War On Fraud, Wins Global Cybersecurity Award

FirstBank Leads War On Fraud, Wins Global Cybersecurity Award

September 10, 2025
JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

September 9, 2025

Nigerian Firms Allocate 30% IT Budgets To Privacy Protection

September 9, 2025
NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges

NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges

September 9, 2025
Banks Slash Loans To Manufacturers By 26%, Lending Falls To N8trn

Nigerian Businesses Struggle As Loan Interest Rates Hit 36%

September 9, 2025
Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses

Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses

September 9, 2025
Pension Operators Sensitise Young Professionals On Cancer Awareness

Be Fair, N’Assembly To Pension Bureau

September 9, 2025
Nigerian Firms Disburse N927.6bn Dividends In H1 2025

NGX Opens Week On Bullish Note, Gains N263bn

September 9, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy