LFTZ Customs makes N54Bln in Q1 2024
23 April, 2024
The Nigeria Customs Service (NCS), Lagos Free Trade Zone Command (LFTZ), has celebrated a record breaking revenue of N54 billion in the first quarter (Q1) of 2024.
It generated N25,094,030,014.00 in revenue from the Free Zone and N29,671,886,266 from the Lekki Port, making it a cumulative total revenue of N54,765,916,280 for the first quarter of the year.
Mohammed Babandede, the outgoing Customs Area Comptroller (CAC) LFTZ, during the ceremony held in Lagos, reeled out the command’s remarkable achievements while handing over leadership to Comptroller, Olanrewaju Olumoh.
Speaking about his experience at the Command in the last seven months since he assumed office, Babandede noted that the most important thing he was taking out of the command was the synergy between agencies and engagement with stakeholders.
He said: “When I came in September, the free zone was only able to generate revenue of about N2 to N3 billion, but to God be the glory, we can now generate N15 to N25 billion in a month.
“We engaged a lot of stakeholders, and we worked with other government agencies because we can not do it alone, and we established a bond like a family.”
The outgoing CAC advised stakeholders to maintain a high level of integrity in their cargoes and urged the new Customs Area Controller to carry everyone along.
On his part, Olanrenwaju Olumoh the new LFTZ CAC Comptroller, appreciated his predecessor for his purpose-driven leadership, pledging to build on his exceptional foundation while also soliciting support from stakeholders and officers.
He said:
“I am happy that I am not meeting this Command at the scratch level. I have optimism to build on the very good foundation Comptroller Babandede is leaving behind. I thank you, Comptroller, for your purpose-driven leadership.”
“To our critical stakeholders, I acknowledge the wonderful support you have been giving the command over the years; I want to assure you that the overriding goal will be how to make this Command more robust, alive and economically rewarding to the country.
“I assure you I’m going to operate a very open-door policy just like my brother did,” Olumoh added.
Stakeholders, as well as representatives of sister agencies, showered encomium on the outgoing CAC while also urging the new CAC to continue on the integrity and legacy already in existence at the Free Zone for the nation’s good.
“My expectation from the new Comptroller is to double his effort. I don’t know the capacity at which he will be working, but I expect much more from him so that the integrity and legacy that Babandede has left will continue in the Free Zone,” stated one of the stakeholders, Oladunni Kareem.
