CUSTOMS: Tin Can Command To Generate N1.524 Trillion Annual Revenue Target For 2025.

 

 

By Roland Ekama

Tin Can Island Port Command , Nigeria Customs Service is set to collect a whooping N1,524,699,999,478.52 for its 2025 revenue target .

This was contained in a statement made available to newsmen on Sunday , February 9th 2025, by the Public Relations Officer,Tin Can Island Port Command, Nigeria Customs Service, Oscar Ivarah .

Customs Area Controller of the command, Comptroller Frank Onyeka
who dropped the figure during a stakeholders sensitization on the implementation of the 4% Free on Board (FOB) levy and the new Unified Customs Management System known as B’Odogwu, was quoted stating that the Command is on track to surpass its 2025 annual target of N1,524,699,999,478.52,.

According to Onyeka the command is taking adequate steps to maintain the momentum throughout the year.

The interactive session, which held at the Command on Thursday 6 and Friday February 7, 2025, brought together experts from both the private and public sectors, and created an open forum for dialogue on the operational implications of these new initiatives.

Onyeka in a statement over the weekend, noted that the initiatives are aimed to streamline Nigeria’s Customs processes while improving efficiency and transparency within the trade and importation landscape.

The Area Controller emphasized the importance of these reforms, particularly the 4% FOB levy, which applies to the value of goods at the point of import. According to him, the 4% FOB levy which was provided for in Section 18 of the Nigeria Customs Service Act 2023 was expected to boost the operational efficiency of the service in line with International best practices.

Additionally, he stated that the introduction of the B’Odogwu Clearance System was highlighted as a step towards modernizing the Customs clearance process, reducing bottlenecks, and enhancing compliance. Noting that the scheme will soon be launched in the Command.

Meanwhile, the customs boss also disclosed that In January 2025, the Command successfully generated a total of N116,412,735,766.23.

This, he said represented a significant increase when compared to the amount collected in January 2024, which was N88,430,126,122.76. The difference between the two figures is N27,982,609,643.47, which corresponds to a 24.06% increase year-over-year.

 

On some of his reforms introduced in the Command so far, Comptroller Onyeka said he is creating a more trade-friendly environment for all port activities to strive. He reiterated that the era of multiple alerts are over, and stressed that honest declarations and thorough examinations must be emphasized.

He promised to continue to engage with stakeholders, as this is a crucial part of ensuring the success of these initiatives,” . “Through constant collaboration and feedback, we aim to address concerns, foster a better understanding of the processes, and ultimately ensure smooth implementation of these policies.”

The directives from the Comptroller General of Customs Bashir Adewale Adeniyi MFR to initiate these consultations underscores the commitment of the service to transparency, effective communication, and partnership with stakeholders as it navigates through the evolving landscape of international trade.