National Economy
Wednesday, June 25, 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 News

Tin-Can Customs Generates N116bn Revenue From Import In January

by Yusuf Babalola
4 months ago
in News
Reading Time: 2 mins read
Customs
Share on FacebookShare on TwitterShare on Telegram

The Tin Can Island Command of the Nigeria Customs Service (NCS) said it generated N116.412 billion in revenue from imports in 2025.
This was disclosed by the Customs Area Controller, Compt. Frank Onyeka, at the sensitisation workshop for importers and clearing agents on the introduction of the 4 per cent Free on Board (FOB) levy and the new Unified Customs Management System known as B’Odogwu.
Compt. Onyeka stated that, the revenue generated in 2025 represented a significant increase when compared to the amount collected in January 2024, which was N88.430 billion.
According to him, the difference between the two figures represents N27.982billion which corresponds to a 24.06 per cent increase year-over-year.
“In January 2025, the Command successfully generated a total of N116.412billion. This represented a significant increase when compared to the amount collected in January 2024, which was N88.430 billion. The difference between the two figures is N27.982billion which corresponds to a 24.06 per cent increase year-over-year,” he said.
Speaking on the implementation of the 4 per cent Free on Board (FOB) levy and the new Unified Customs Management System known as B’Odogwu, Compt. Onyeka noted that these developments are aimed at streamlining Nigeria’s Customs processes while improving efficiency and transparency within the trade and importation landscape.
The area controller emphasised the importance of these reforms, particularly the 4 per cent FOB levy, which applies to the value of goods at the point of import.
According to him, the 4 per cent FOB levy, which was provided for in Section 18 of the Nigeria Customs Service Act 2023, was expected to boost the operational efficiency of the service in line with International best practices.
Additionally, he stated that, the introduction of the B’Odogwu Clearance System was highlighted as a step towards modernising the Customs clearance process, reducing bottlenecks, and enhancing compliance. Noting that the scheme will soon be launched in the Command.
Comptroller Frank expressed optimism regarding the continued growth, stating that the Command is on track to surpass its 2025 annual target of N1.524 trillion, as he is taking adequate steps to maintain the momentum throughout the year.

On some of his reforms introduced in the Command so far, Comptroller Onyeka said, he is creating a more trade-friendly environment for all port activities to strive. He reiterated that the era of multiple alerts is over and stressed that honest declarations and thorough examinations must be emphasised.

He promised to continue to engage with stakeholders, as this is a crucial part of ensuring the success of these initiatives. He said, “Through constant collaboration and feedback, we aim to address concerns, foster a better understanding of the processes, and ultimately ensure smooth implementation of these policies.”

The directives from the Comptroller General of Customs, Bashir Adewale Adeniyi, to initiate these consultations underscores the commitment of the service to transparency, effective communication, and partnership with stakeholders as it navigates through the evolving landscape of international trade.

You May Like

Oil Prices Uncertainty Frustrates Nigeria’s $5bn Loan Deal With Saudi Arabia

Gas Distributors Strengthen Value Chain As FG Decries 30% Market Utilisation

Tags: RevenueTin-Can
ShareTweetShare
Previous Post

Dangote Refinery To Operate At 100% By March

Next Post

Stakeholders Laud Olusi’s Bold Reforms At BoI

ANOTHER GOOD READ

Oil Prices Uncertainty Frustrates Nigeria’s $5bn Loan Deal With Saudi Arabia
News

Oil Prices Uncertainty Frustrates Nigeria’s $5bn Loan Deal With Saudi Arabia

2 days ago
Gas Distributors Strengthen Value Chain As FG Decries 30% Market Utilisation
News

Gas Distributors Strengthen Value Chain As FG Decries 30% Market Utilisation

2 days ago
‘AI Adoption Will Enhance Digital Literacy, Improves Learning Infrastructure’
News

‘AI Adoption Will Enhance Digital Literacy, Improves Learning Infrastructure’

2 days ago
ASCON To Transform Centre Into Hub Of Tourism-induced Destination
News

ASCON To Transform Centre Into Hub Of Tourism-induced Destination

3 days ago
Nigeria Reclaims Global ICT Spotlight In 48-country Council
News

Nigeria Reclaims Global ICT Spotlight In 48-country Council

3 days ago
Shell’s 12m Tons LNG Output Target Nigeria’s LNG Expansion
News

Shell’s 12m Tons LNG Output Target Nigeria’s LNG Expansion

3 days ago
Next Post
Stakeholders Laud Olusi’s Bold Reforms At BoI

Stakeholders Laud Olusi’s Bold Reforms At BoI

Most Recent

Nigeria’s Flag Team Set For Historic African Championship In Egypt

Nigeria’s Flag Team Set For Historic African Championship In Egypt

June 23, 2025
Akwa Ibom Govt  Dissolves Boards Of Akwa United,Others

Akwa Ibom Govt Dissolves Boards Of Akwa United,Others

June 23, 2025
Nwabali, Car Rental Company At Loggerheads After Father’s Funeral

Nwabali, Car Rental Company At Loggerheads After Father’s Funeral

June 23, 2025
Enugu Intensifies Plans For 23rd National Sports Festival

Enugu Intensifies Plans For 23rd National Sports Festival

June 23, 2025
Gaming, Gambling Addiction, A Growing Societal Burden Needing Urgent Attention

Gaming, Gambling Addiction, A Growing Societal Burden Needing Urgent Attention

June 23, 2025
Nigeria’s Aviation Future: Between Domestic Growth And National Pride

Nigeria’s Aviation Future: Between Domestic Growth And National Pride

June 23, 2025
Orijin Electrifies Ojude Oba With Vibrant Celebration Of Culture

Orijin Electrifies Ojude Oba With Vibrant Celebration Of Culture

June 23, 2025
Business Africa Elects NECA DG Into Executive Council

Business Africa Elects NECA DG Into Executive Council

June 23, 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