Customs Nets N463.74 Billion In Three Months

The Nigeria Customs Service (NCS)

The Nigeria Customs Service (NCS) on Wednesday said it collected N463.74 billion revenue from duties and levies in the first half of 2014.

The Service’s “Monthly Revenue Report” issued in Abuja stated that N197.73 billion was collected in the first quarter while N265 billion was collected in the second quarter.

It stated that N276.23 billion of the revenue was remitted to the Federation Account while N187.51 billion was transferred to non-federation account.

It said that N246.72 billion was collected from import duty, N16.78 billion from excise duty and N93.10 billion from Value Added Tax (VAT).

The report added that N94.40 billion was collected from levies, N11.52 billion from Common External Tariff (CET) special levy and N1.21 billion from other fees.

A monthly breakdown of the revenue collection during the period showed that N70.58 billion was collected in January, N63.87 billion in February and N63.37 billion in March.

In April, N87.58 billion was realised, N95.04 billion in May and N83.29 in June.