The Nigeria Customs Service (NCS) have said that of the 42 Free Trade zones (FTZ) registered in Nigeria, only 25 are active, with 15 of them operating in Zone ‘A’, four in Zone ‘B’, five in Zone ‘C’ and one in Zone ‘D’.
In a statement sighed recently by the Customs National Spokesman, DC Timi Bomodi, the Service said that between January and June 2022, it was able to generate the sum of N1, 292,904,201,376.89 into the federation account as against the sum of N1,003,540,084,590.16 for the corresponding period in 2021.
According to the Customs national image maker, while presenting the half year scorecard of the Service, “The revenue target given the Nigeria Customs Service for the year 2022 is 3.019 Trillion Naira. This amount exceeds the target for 2021 by 80.78 per cent.
“As it has become customary, the Service remains focused and steadfast in its commitment to meet the challenges of the moment fully confident in its ability to innovate and adapt to a dynamic socio-economic environment.
“Between January and June 2022, we have been able to generate the sum of N1, 292,904,201,376.89 into the federation account as against the sum of N1,003,540,084,590.16 for the corresponding period in 2021. The amount generated surpassed our achievements of last year by N289,364,116,786.73 or 28.83 per cent. This is even more remarkable given the fact that only 116,691 Pre-Arrival Assessment Reports (PAARs) were issued against 129,667 processed in the same period of 2021.
“The sum of N156,315,758,646.18 was also generated into the non-federation account as collections made on behalf of other Government Agencies.
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“For excise duty being tax levied on the manufacture, sale and consumption of goods under excise control, this was collected through 22 Commands of the Service. A total of N68,015,808,146.61 was collected from manufacturers of beer, spirits and other alcoholic beverages, cigarettes and tobacco among other products from January to June, 2022. Also in the month of June, the Service commenced collections from extant traders producing carbonated and sugary drinks newly added under schedule 5 of the CET. So far, the Service has collected from carbonated and sugary drinks more than one billion Naira in the month of June.
“Other revenues from telecommunication (call and data), and digital network services are yet to be collected. NCS is expected to start collecting revenue on these products and services as soon as the modalities for collection are put in place. Duties from these revenue sources are expected to boost our collections in the current year.
“Of the 42 Free Trade zones in Nigeria only 25 are active, with 15 of them operating in Zone ‘A’, 4 in Zone ‘B’, 5 in Zone ‘C’ and 1 in Zone ‘D’. In addition to providing employment opportunities for Nigerians, these Special Economic Zones are expected to engender the transfer of technology, help build local capacity, provide viable market for other local producers of raw materials and increase the quality of goods which can potentially be available in the local market on the payment of relevant duties and taxes.”