Freight forwarder Cautions FG Over N12 trillion  Customs Revenue Target, Harps On Balance Of Trade

 

Managing Director /Chief Executive Officer of Widescope International Group, Dr. Segun Musa has cautioned the federal government over the dangers of the N12 trillion 2025 revenue target set aside for the Nigeria Customs service.

 

Musa who accused the government for the recklessness, stated that the revenue target for customs  is unrealistic,saying that importers are already overwhelmed with the current realities of government policies as it affects international trade .

 

 

In view of the economic challenges in Nigeria, the astute freight forwarder,  advocated for a vibrant manufacturing sector rather than relying on duty on import for stimulation of the country’s economy

 

Speaking with our correspondent recently Dr. Musa who was one time Lagos State gubernatorial candidate, averred that increasing import duty in goods coming not the country, is a sign of economic weakness and over reliance on imported goods rather than domestic production .

 

The frontline freight forwarder lamented that the nation’s balance of trade and balance of payment would continue to suffer setbacks if government continues to compel the Nigeria Customs Service

 

He reiterated the need to focus on internal mechanisms to generate revenue and achieve a balance of trade, rather than relying on import duties only.

 

Dr. Musa who doubles as Deputy President, National Association of Government Approved Freight Forwarders ( NAGAFF) emphasized the need for a strong manufacturing sector to support the economy and reduce reliance on imports

 

Speaking further, the outspoken freight forwarder condemned the introduction of the Cargo Tracking Note (CTN) by the Nigerian Shippers’ Council (NSC) saying it is an intellectual fraud.

 

According to him, it amounts to duplication of duty because the deployment of scanners by the Nigeria Customs Service NCS, gas already served the purpose

 

Recounting how precious administration jettisoned the idea, he maintained that government agencies tried to smuggle the idea through the back door.

 

He expressed fees that the new policy will jerk up the cost products in the market with the potential to cause inflation..

 

Mr Musa criticizes the involvement of freight forwarders and Customs officials in promoting CTN, arguing that it undermines the integrity of the import regime.

 

He also  emphasizes the need for Customs to be equipped with more scanners and trained to handle inspections effectively, rather than relying on external agencies.

 

He then calls for a collective effort to educate the public and government officials about the dangers of intellectual fraud in the import regime.