…as export tonnage grows by 95%
As part of efforts to balance Nigeria’s foreign trade, the Tin Can Island Port (TCIP) has facilitated exports valued at N287,792,767,415 in the first quarter of 2024.
The 2024 figure represents over 300% increase in Free On Board (FOB) value of the exports which is a significant improvement from the N80,993,580,710 FOB value recorded between January and March 2023.
TCIP Customs Command made this known in a press statement disseminated today (Wednesday), signed by the Command’s Public Relations Officer, Ngozi Okwara.
According to the report, which delivered the Command’s scorecard for 2024 first quarter, a 95 percent growth in tonnage of export was attained with 251,679.89 MT in 2024 when compared to the corresponding period in 2023.
“While the Command facilitated 145,906.33 MT between January and March 2023, the figure in 2024 rose to 251,679.89 MT. There is also over 300% increase in FOB value of exports with N80,993,580,710 and N287,792,767,415 for Q1 2023 and 2024 respectively,” the statement read.
Meanwhile, the Command also surpassed its first quarter revenue target for 2024 by 139 percent with a difference of N177,079,358,035.36, when compared to the same period in 2023.
“The Command recorded a total collection of N303,937,547,265.47 in the first quarter of 2024 which is a significant growth from the N126,858,189,231.31 recorded in the same period of 2023.”
Giving the revenue breakdown; the Command collected a total of N88,430,126,122.72 in January 2024 – indicating 107.9% upscale from the revenue collected for January 2023. In February 2024, the command generated N100,399,354,887.71 – this is 141.8% higher than February 2023. For March 2024, the Command recorded N115,108,066,256.20, representing 163.9% increase when compared to March 2023.
The Area Controller, Comptroller Dera Nnadi mni, commended the support and clear sense of direction from the Comptroller General of Customs, BA Adeniyi MFR and his management team for their relentless and continuous efforts towards strengthening the capacity of the Service.
On anti-smuggling activities, the Command seized 57 packets of Heroine weighing 56.390kg with a street value of N902, 240,000; 3612 packets of Colorado Indica weighing 956.772kg with a street value of N4,055,400,000, among others. All the seized illicit drugs have been handed over to the relevant sister agencies as directed by the service
The Area Command equally hosted different sections of stakeholders’ forum for Shipping Companies; Terminal Operators; Freight Forwarders, Security Agencies, among others physically and virtually on modalities to automate communication channel to minimize revenue loss and boost rules of engagement.
“We are optimistic that with the content of digitalization of all Customs processes and procedures based on the modernisation agenda of the Service we will achieve more in our responsibilities,” the statement read.
