NEWS
NCS Hits N3.21trn In 2023, Eyes N5.08trn In 2024
In a briefing to the House of Representatives Committee on Customs and Excise, Comptroller General Bashir Adeniyi disclosed that the Nigeria Customs Service (NCS) successfully generated a total of N3.21 trillion in revenue for the year 2023.
Despite facing challenges that led to falling short of the targeted N3.67 trillion, Adeniyi expressed confidence as he outlined the service’s ambitious goal to diligently contribute N5.08 trillion to the nation’s revenue in 2024.
He said, “In 2023, the revenue target for the service was N3.67trn and remarkably, the service collected a total revenue of N3.21trn from January to December 2023.
“When we compare what we collected in 2023 to what was projected as our targets, there was a negative variance of N462.9 bn, which represents 12.62 per cent of what was approved as revenue targets.
“Though we didn’t achieve what we projected, but we want to say with all sense of modesty that we did our best. And when we consider all factors, we will appreciate the fact that we at NCS did the best we could.”
Adeniyi cited several factors, including the import of goods under the common external tariff, import duty exemption certificates, uncertainties, and anxieties as key contributors to the NCS falling short of its 2023 revenue target.
“One of the factors was the huge import of goods under Chapter 99 of the common external tariff, which resulted in a revenue loss of over N2trn. When we compare this to the total revenue that we had, that was a whopping 63.35 per cent of our total revenue collection.
“Also, revenue due to import duty exemption certificates and other statutory provisions for the year (2023) was also in the region of N1.8 trn which was about 58.52 per cent of the total revenue generated. Cargo through-put dropped from 17.2 per cent to 15 2 per cent during the year.
“For 2024 fiscal year, this target stands at 5.079 trillion and this consists of 3.423 trn in federation accounts, N554.35 bn for non-federation accounts, and N1.101 trn for import Value Added Tax,” he added, noting that “When we compare what was targeted in 2023 and 2024, this year’s target is higher by N1.41 trn or approximately 27.75 per cent over the 2023 budget,” he added.
The NCS boss outlined crucial assumptions to aid the service in achieving its 2024 financial targets. He emphasized the importance of timely roll-out of the 2024 fiscal policy measures and highlighted the pursuit of the national single window project for enhanced process harmonization and standardization.
The approval for the inauguration of the steering committee by Mr. President signals progress in this pursuit, with expectations that the committee will be inaugurated in the coming days.
Adeniyi highlighted the significance of the Vehicle Registration System and the Vehicle Identification Number valuation application as the third driver to combat undervaluation and vehicle tax evasion, aiming to enhance revenue collection for the NCS.
Additionally, he informed the committee about the NCS’s proposed budget expenditure of N706.43 billion in the 2024 fiscal year.
Adeniyi detailed the funding plan, indicating that N623.83 billion is expected from the 4% Free On Board, N22.02 billion from a 2% VAT share for NCS, and N60.58 billion from funds rolled over from ongoing capital projects, totaling the proposed budget.
Committee Chairman Leke Abejide assured the NCS of the lawmakers’ commitment to support its efforts in achieving the national revenue target.
He urged the NCS boss to prioritize the implementation of e-customs and integrate Artificial Intelligence in managing the nation’s border stations for enhanced efficiency and effectiveness.
In a bold move, Governor Siminalayi Fubara of Rivers State has announced plans to launch a comprehensive inquiry into the governance conducted by his predecessor, Nyesom Wike.
The announcement came on Monday, following the swearing-in ceremony of Dagogo Israel Iboroma, SAN, as the new Attorney-General and Commissioner for Justice of the state.
Governor Fubara stressed the critical timing of Iboroma’s appointment amidst political tensions and revealed intentions to establish a judicial panel of inquiry to scrutinize governance practices predating his administration.
Fubara said, “So, my brother, Dagogo Iboroma, you are going to be the brand new Attorney-General of our dear State. SSG, give him his letter, he is the Attorney-General.
“Why are we bringing you at this very critical time? We have a lot of issues around us. We believe that you are not going to be the one that when they send service to you, you go and file “nolle prosequi” or you go and file one thing that would kill us here.
“Let me also say this, you have a big task. As it is today in the local parlance, they say the jungle has matured. We will be setting a panel of inquiry to investigate the affair of governance. So, brace up, I am not going back on it.
He added “Please, defend us. We know that you are going to defend us because your record is clean. You are a gentleman and peaceful. You are not a noise maker. People like you are endowed, and they have the fear of God.”
In the midst of political tensions, the faction of the Rivers State House of Assembly aligned with Governor Siminalayi Fubara has conducted the screening and confirmation of legal expert Dagogo Israel Iboroma, a Senior Advocate of Nigeria (SAN), as the Commissioner-designate.
Led by Speaker Victor Oko Jumbo, the faction endorsed Commissioner-nominee Dagogo Iboroma on Monday, within the Chambers of the Rivers State Government House in Port Harcourt.
Iboroma is poised to assume the role of Attorney-General and Commissioner for Justice, succeeding Professor Zaccheus Adangor SAN, who resigned upon his redeployment to the Ministry of Special Duties (Governor’s office) two weeks ago.
According to report, Iboroma received an invitation on Sunday, signed by Dr. G.M. Gills-West, the Clerk of the House, summoning him for screening as the Commissioner nominee and potential member of the Rivers State Executive Council.
Recall that last week, Hon. Victor Oko Jumbo, a factional Speaker aligned with Governor Fubara, was elected after Governor Fubara asserted that the Martin Amaewhule-led lawmakers, loyal to Nyesom Wike, Minister of Federal Capital, ceased to be Rivers State lawmakers in the eyes of the law following their defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).
Observers speculate that Governor Fubara is pushing forward to instigate governance activities, with more Commissioner nominees expected to undergo screening by the Victor Oko Jumbo-led three-man Lawmakers.
However, our correspondent highlights that the invitation for screening is already stirring controversies.
In a Facebook post by lawyer Oraye St Franklyn, he raised various legal issues.
Former Rivers State House of Assembly Speaker, Edison Ehie has revealed that he was offered money to impeach Governor Siminalayi Fubara.
Ehie, now serving as Chief of Staff to the governor, was previously the majority leader when the first attempt to impeach Fubara took place.
Along with a few others, he opposed the move, leading to a split from the lawmakers loyal to Nyesom Wike, Minister of Federal Capital Territory (FCT).
Ehie later became the speaker of the faction, which disbanded after President Bola Tinubu intervened and a peace accord was signed between the Wike and Fubara camps.
The peace efforts faltered shortly thereafter, and the two factions resumed their conflict.
Speaking at an event in Ahoada East area of Rivers State over the weekend, Ehie reiterated that he was offered money to oust the governor.
While he didn’t reveal the identities of those behind the offer, he affirmed that he declined it.
He said “They invited me, your son, to impeach the governor and I told them clearly, I was not interested. They gave me all the money that was hidden before, which I rejected. And because I refused, they conspired and declared me wanted.”
Recall that in 2023, the police declared the Chief of Staff wanted in connection with the invasion of the State House of Assembly.
Also, in October 2023, an explosion rocked the state assembly building amidst reports of lawmakers attempting to impeach Fubara.
The lawmakers led by Martin Amaewhule reportedly lodged criminal complaints against Ehie with the Rivers State Police Command over the invasion and arson of the Rivers State House of Assembly chambers by unidentified hoodlums.
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