- Surpasses Q1 revenue target by 139%
By Steve Agbota
The Tin Can Island Port Command of the Nigeria Customs Service said it intercepted a total of 57 packets of Heroine weighing 56.390kg with a street value of ₦902, 240 million; 3612 packets of Colorado Indica weighing 956.772kg with a street value of (₦4. 055 billion and generated N303.937 billion revenue, exceeding its target by an impressive 139 per cent in the first quarter of 2024.
In a press statement made available to newsmen on Wednesday by the Public Relations Officer of the command, Ngozi Okwara on behalf of the Customs Area Comptroller (CAC) Dera Nnadi, said the achievement marks a stark contrast from the ₦126.9 billion recorded during the same period in 2023, highlighting an increase of ₦177.1 billion.
However, Nnadi said: “January 2024 saw the command collect ₦88.4 billion, achieving a 107.9 per cent increase compared to January 2023. February’s figures were more robust, with collections of ₦100.4 billion, marking a 141.8 per cent increase from the previous year. March topped these figures with a record ₦115.1 billion, up by 163.9 per cent from March 2023,” Nnadi said.
Meanwhile, he commended the officers and men of the command for embracing service delivery for its stakeholders and for teamwork which resulted to the Area Command surpass it’s first quarter revenue target for 2024 by 139 per cent.
On the Command’s enforcement and anti-smuggling Unit, the CAC said it has stepped up its operations, resulting in significant interceptions of illegal substances.
According to him, the operations led to the seizure of 57 packets of heroine and 3,612 packets of Colorado Indica, with a combined street value of approximately ₦4.96 billion, adding that these substances have been handed over to relevant agencies for further action.
He further stated that the Command has actively engaged with various stakeholders through forums aimed at automating communication to minimise revenue loss. Additionally, he said efforts are underway to establish new terminals at the Tin Can Island Port (TCIP) to create a more efficient operational environment and decongest existing facilities.
On export, he said in terms of Volume (metric tonnes) and value (FOB), export trade recorded exponential growth within the same period under review.
“Comparatively, tonnage of goods exported via TCIP increased from 145,906.33 metric tonnes in 2023 to 251,679.89 metric tonnes in 2024 and represents an increase of 95.3%. Also, there is an over 300 per cent increase in the FOB value of the exports from N80.993 billion to N287.792 billion of Q1 2023 and 2024 respectively,” he said.
He revealed that exports from the Command includes essentially agricultural and other allied products, namely; Coca-Butter, Cocoa Beans, Cashew Nuts etc.