Business

Reps: Major Customs revenue comes from South-West

The House of Representatives Committee on Customs and Excuse says the South-West region produces the majority of revenue coming from the Nigeria Customs Service (NCS).

The chairman of the committee, Leke Abejide, disclosed this at the inauguration of committee members in Abuja on Tuesday.

“NCS is a big institution with a lot of commands, which are divided into Zones A, B, and C, with the South-West falling into the Zone A category,” he said.

According to him, most of the revenue comes from Zone A, which comprises Lagos, Ondo, Ekiti, Oyo, Osun, and Ogun states in the South-West.

The lawmaker said Lagos has the highest seaport among the six states, adding that Zone B came with Kwara, Kogi, Niger, and the North-West, while Zone C fell within Rivers State and South-East.

“We need to do oversight in these places because we need to approve their budget, we must take a critical look at whatever comes in the budget,” Abejide added.

He said the committee worked extra hard in the ninth assembly to ensure the functionality of the NCS, of which he was the chairman.

He said: “I want to assure you that the committee on customs and excise will be steadfast in its pursuit of excellence.

“We will work tirelessly to enhance trade facilitation policies, modernise customs procedures, and foster a conducive environment for economic growth and development.”

Abejide noted under the new Act, Customs now has access to increased revenue via a new financing model of four per cent, thus enabling it to operate more effectively and efficiently.

“The new Act also introduces a robust e-commerce system, aligning the NCS with global digital trends and promoting rapid revenue generation and ease of doing business,” the lawmaker said.

He said another notable milestone of the Act is the establishment of a clear leadership structure for the Nigeria Customs Service.

He listed the seven areas of focus of the committee to include oversight of the NCS’ implementation of the new Act, revenue collection, and remittance.

Others were the cost of collection, export processing zones, training institutions, customs and excise laws, and budget estimates.

The Star