Impressive turn-over : Customs at Lagos Free Trade Zone Command boosts federation account with over NN41.3bn
27 June, 2024
The Lagos Free Trade Zone Command of Nigeria Customs Service, NCS, has boosted the federation account with N41.3billion revenue collected from January to June 2024.
The Customs Area Controller, CAC, of the Command, Comptroller Olanrewaju Olumoh Ph.D, made this known during engagement with stakeholders in the Zone.
Speaking further, Compt Olumoh explained; “from January 2024, till date, the Command has generated the sum of N41,301,307,159.00 billion from the Free Zone, as against N24,704,793,171billion collected the same period in year 2023.
“This shows an increase of N16,596,513,918billion which represents 67% to what was collected in 2023.”
He informed that the initial revenue target given to the Free Zone was N108,842,517,983.31billion, before it was reviewed to N136,053,147,479.14billion for year 2024.
Compt Olumoh went on; ” Similarly, an initial revenue target of N6,610,480,707.50billion was reviewed to N8,263,100,884.37billion for Lekki Port. From January till date, the sum of N74,674,581,016biilion was generated as revenue from the Port.
“Cumulatively, from January till date, the total revenue generated in the Command is put at N115,975,888,175.00.”
The Area Controller reaffirmed his commitment to ensure the Command generates more income for the Federal Government. He stressed; “We look forward to continuous rise in revenue collection in the coming months, and we are optimistic that we would meet and surpass the annual target by the end of the year.
“The Command is much aware of other fundamental benefits of establishing the Free Zones, some of which are to attract foreign investments, promote technology transfer and create more jobs for the citizens. All of these would not be achievable without the collaboration and cooperation of stakeholders in the Zones. In the light of these, it is important to keep sensitising the agents and zone operators on the Standard Operating Procedures (SOP) for Free Zones. This will enhance their compliance level and improve their capacity towards better service delivery.”
According to him; “Stakeholders’ engagement is not just about communication, it’s about building relationships based on trust, transparency and mutual understanding. We want to operate an open-door policy in which we can entertain meaningful contributions to move the Command forward. We will accommodate questions and observations where the enterprises have grey concerns with a view to proffering possible solutions. Also, we will discuss areas where the Command observes the enterprises need to improve on.
“I want to use this opportunity to appreciate the mutual cooperation we enjoyed from the Zones’ managements and other sister agencies in the zone’ especially the Heads of Nigeria Export Processing Zones Authority (NEPZA), Immigration, Nigeria Police Force, among others. Their continuous support has contributed in realising these remarkable results.
“I also recognise the critical role the media plays, especially in the area of sensitisation on Free Zones and public enlightenment. We implore the media to continue in this regard to assure the public that Lagos Free Zone is a place to invest”.
Speaking further, Compt Olumoh emphasised on the importance of information sharing and collaboration among relevant stakeholders, as well as sister security agencies.
His words; “Upon my assumption of office, I was amazed by the performance of my predecessor and I had since then promised to improve on what was on ground. So, I embarked on courtesy visits to all the Free Zones under the Command, including Lekki Port.
“I also had series of meetings with stakeholders to seek for their cooperation and collaboration in line with the policy thrust of the Comptroller General of Customs, CGC Bashir Adewale Adeniyi MFR, anchored on consolidation, innovation and collaboration.
“The fallout from these visits necessitated the meeting today where we revealed our achievements so far and discussed matters that will improve operations in the Free Zones under the Command”.
