{"id":177411,"date":"2022-04-14T09:23:16","date_gmt":"2022-04-14T08:23:16","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=177411"},"modified":"2022-04-14T09:44:40","modified_gmt":"2022-04-14T08:44:40","slug":"tincan-island-port-increased-revenue-by-20-to-n135bn-in-q1-2022-says-customs","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/04\/14\/tincan-island-port-increased-revenue-by-20-to-n135bn-in-q1-2022-says-customs\/","title":{"rendered":"TinCan Island port increased revenue by 20% to N135bn in Q1 2022, says Customs"},"content":{"rendered":"<p>Nigeria Customs Service (NCS) has stated that it generated N135.44 billion in the first quarter of 2022 from operations at its TinCan Island Command.<\/p>\n<p>This was disclosed on Wednesday by\u00a0<span data-preserver-spaces=\"true\">Olakunle Oloyede, command\u2019s area controller at a media briefing in Lagos.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to him, this is an improvement of N22.74 billion, representing an increase of 20.18 per cent, compared to the first quarter of 2021 \u2014 when revenue collection stood at N112.69 billion.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said the command\u2019s operations for the first quarter significantly aligned with the statutory responsibilities of the service.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said this was so in the areas of revenue generation, trade facilitation, and enforcement\/anti-<a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/04\/11\/nigerian-man-sentenced-to-10-years-imprisonment-in-india-for-smuggling-heroin\/\">smuggling activities<\/a>.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Oloyede, speaking on export, said the total tonnage of goods exported through the command for the period under review was 71,014.4 metric tonnes with free on board (FOB) value of N56,205,901,295.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said in the preceding year (January-March 2021), the total tonnage of goods exported through the command was 44,502.9 metric tonnes with a total FOB value of N31,371,825,954.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cComparatively, between January to March 2021 and 2022, the tonnage of goods exported through the command increased from 44,502.9 metric tons to 71,014 representing an increase of 62.67 per cent,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe FOB value in naira of the tonnage also increased from N31,371,825,954 to N56,205,901,295 representing an increase of 55.82 per cent within the period under review.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said commodities exported through the command include copper ingots, stainless steel ingots and sesame seeds.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Others include cashew nuts, cocoa beans, rubber, cocoa butter, leather, ginger and frozen shrimps.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Speaking on enforcement and anti-smuggling activities, he said seized items include 145kg of Colorado (hemp) concealed in two units of ridgeline trucks and two units of Toyota Corolla vehicles.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to him, 206,000 pieces of machetes, 640 bales of used clothes and 236,500 pieces of used shoes, among others were also part of the seized items.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said the seized items had a duty paid value amounting to N1,048,810,569.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe import of these products contravenes Sections 46, 478 161 of the Customs and Excise Management Act (CEMA) Cap 45 LFN 2004,\u201d he added.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He noted that the command was still facing challenges in the area of treatment of overtime cargo because of the non-implementation of the extant laws guiding uncleared cargo.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAdditionally, the lack of government warehouses at close proximity to the port has led to difficulties in logistics and handling cost,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On the 2022 fiscal policy, he said that a 90-day grace period had been given for the implementation of the new duty and excise rates.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe Federal Ministry of Finance has recently published the 2022 Fiscal Policy with an effective date of April 1, however, with the 90-day grace period, it will take effect from June 1,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAs much as the service is putting in the effort to make the necessary adjustments, we are experiencing minor delays in its full implementation because the system is not designed to be<\/span> retroactive.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria Customs Service (NCS) has stated that it generated N135.44 billion in the first quarter of 2022 from operations at its TinCan Island Command. This was disclosed on Wednesday by\u00a0Olakunle Oloyede, command\u2019s area controller at a media briefing in Lagos. According to him, this is an improvement of N22.74 billion, representing an increase of 20.18 [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":177440,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[4219,35307,27075,35306,35305],"class_list":["post-177411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-customs","tag-customs-and-excise-management-act-cema","tag-ministry-of-finance","tag-olakunle-oloyede","tag-tincan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TinCan Island port increased revenue by 20% to N135bn in Q1 2022, says Customs<\/title>\n<meta name=\"description\" content=\"Nigeria Customs Service (NCS) has stated that it generated N135.44 billion in the first quarter of 2022 from operations at its TinCan Island Command.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/04\/14\/tincan-island-port-increased-revenue-by-20-to-n135bn-in-q1-2022-says-customs\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TinCan Island port increased revenue by 20% to N135bn in Q1 2022, says Customs\" \/>\n<meta property=\"og:description\" content=\"Nigeria Customs Service (NCS) has stated that it generated N135.44 billion in the first quarter of 2022 from operations at its TinCan Island Command. 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