Nigeria Customs Service (NCS), Oyo/Osun Customs Command, has generated N7.25billion into government coffers between January and June 2016.
The command also seized a bullet-proof Toyota Land Cruiser Prado and bags of rice in the period.
The Command’s Area Controller, Timothy Ogunkua who disclosed in Ibadan said that the command generated N933 million in January ; N1.02 billion in February ; N1.3 billion in March; N1.4 billion in April; N1.24 billion in May and N1.4 billion in June, 2016.
He noted also that the ban on rice movement through the land borders and the sliding economic fortunes of such major excise factories like British America Tobacco company of Nigeria (BATN), Nigerian Brewery Limited (NBL) and Ilesa Brewery Limited (IBL) had prevented the command from generating higher yield.
According to him, “the Oyo/ Osun Command generated a total of N7,245,680,587.69 in the first half of the year 2016. This when compared to a revenue figure of N7,591,511,577.50 made within the same period in 2015 shows a decrease of N345,830,989.81 in revenue generated.
” Some of the factors which might have led to this shortfall in revenue generation in 2016 include such Government fiscal policies as the high exchange rate, the ban on importation of rice through the border areas, general economic downturn which led to low sales on the part of the major excise factories within the Command (BATN/NBL/IBL) and general insecurity in the country.”
Ogunkua remarked that a total of 119 seizures with a Duty Paid Value (DPV) of N240,317,865.08 was recorded in January with some of the strategic seizures being 226 packages of Indian hemp ; 3,948 bags of 50kilogrammes rice with a DPV of over N32 million; 65 assorted used vehicles and 66 cartons of frozen poultry with DPV of N548,262.
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