Nigeria Customs Service (NCS) has announced 127% increase in revenue in the first half of 2024, generating N2.74 trillion despite a decline in cargo throughput.
According to the NCS mid-year report, key initiatives such as the e-auction platform and the 90-day duty payment window for uncustomed vehicles contributed to this success.
The report states, “The Nigeria Customs Service has achieved good success in the first half of 2024. The e-auction platform, which generated over N1.34 billion, and the 90-day duty payment window for uncustomed vehicles, adding N4.37 billion to the revenue.”
The Nigeria Customs Service recently introduced the Advance Ruling System (ARS)… Other pragmatic measures implemented to increase revenue, despite a drop in cargo throughput, included establishing a robust framework for dispute resolution, launching Operation Whirlwind, reshuffling strategic-level officers and robust stakeholders’ engagement.”