Home Business 213bn revenue generated from PTML Command in 11 months – Nigerian Customs

213bn revenue generated from PTML Command in 11 months – Nigerian Customs

The Port Terminal Multiservices Limited, PTML Command of the Nigeria Customs Service, has released the revenue generation scorecard of the Command from January to November 2022.

Speaking during the weekend in Lagos, the Customs Area Controller of the PTML Command, Comptroller Suleiman Bomai, said a total sum of N213,405,461,873.00 was collected as revenue between the months of January and November 2022, compared to the same months in 2022 at N205,157,478,605.00.

The difference in figures, he said, showed an appreciation of N8,247,983,268.00 translating to an increase of 4%.

“I love challenges, and I would have loved to double that figure, which we can do, but the volume is another thing. If the volume could have remained the way it was, I would have generated at least N1b in this command. But because of the volume, I interfaced with Grimaldi, and they told me about the external and internal factors limiting vehicles.” He revealed.

Similarly, Bomai, while engaging stakeholders, harped on the need for constant engagement as directed by the CGC, Col. Hameed Ali (rtd). He said it is imperative to always look at any loopholes and attend to them immediately.

“Since the inception of this regime, the CGC has directed that there must be engagement because we have looked at the gaps which stem from lack of engagement between the NCS and the stakeholders. We also have strategic partners, who have some government agencies that work with us, and there must be cooperation and synergy, and we cannot achieve that without engagement. The idea of engagement is, let us review what we have done, issues at stake, challenges, and strategies to move forward, and it has to be constant because trade is dynamic.” he reiterated.

He explained that Nigeria used to be dependent on forex from oil, as over 90% of the country’s revenue was generated from it, but was taken aback by the global shock, which affected prices and values of the oil.

“We had to think out of the box. Any economist knows that it is export that finances import; in that sense, when you export forex, you then use it to import raw materials, semi-finished goods, and finished goods. Now that there is a scarcity of forex as a result of lack of inflow due to the drop in the price of oil and so many factors, Nigeria could do better if we encourage our non-oil export to grow in such a way that it can then contribute to the forex inflow into the country because it is through the forex that you get access to it before you can import.

That is why I said it is export that finances imports, and this time around, it is the non-oil export that we want to grow so they can add to the oil export, thereby increasing the forex. That is why I emphasized export.” He noted.

Also, on VIN valuation, the CAC said NCS is one of the most automated government agencies. “We have the capacity and officers to roll out any product, and when we rolled out the VIN valuation, we sensitized the stakeholders; to me, it is a success story. At the same time, it was not 100% complete because there are what are called the standard and non-standard, and I hope the latter will soon be automated. If we can do that, we will have completed the automated process of vehicles.”

The automation process does not stop there, as even the enforcement aspect is also being automated. The era of someone clearing their vehicle from the port and being stopped along the way by an officer for value checking is gone; now, they have a tab on which they can check if the duty is standard, which takes less time. Some of the beautiful things about the VIN valuation are that we have reduced the cost of clearance and maximally reduced contact because that is the most dangerous thing during the clearing process; it ushers in what I call bilateral tax evasion. When there is contact, the taxpayer and the tax collector connive to cheat 200 million Nigerians.”

Today, from the comfort of your house, you can pay your duty, do your assessment at the clearing zone and other procedures, and all that will be left is the examination and picking your vehicle, and once it is standard, you have no issues. The only issues we usually have are from the non-standard aspect, where the management is trying to automate, and once that is done, we are good to go.” He explained.

(CDA NEWS)
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