Business
Maritime Stakeholder Gives Recipe For Revenue
It has been observed that the Nigeria Customs Service (NCS) can generate not less than N3 trillion annually if customs brokers are given a percentage of the total revenue.
The observation was made by an executive member of the Association of Nigeria Licensed Customs Agents (ANLCA), Ikenna Nwuba, while speaking to The Tide in Port Harcourt on Monday.
He contended that once customs agents are granted a percentage of the revenue by the Federal Government, the issue of concealment and under-declaration by importers in collaboration with some unscrupulous licensed customs agents and men and offices of NCS would be a thing of the past.
The new strategy, he said would boost not only the revenue accruing into the central till but would also eliminate the root cause of bribery and corruption in the nation’s seaports, airports and international borders.
Nwuba who is managing a clearing and forwarding company in Port Harcourt, said if government gives Customs Agents a percentage of the revenue they generate for NCS, such an incentive would block all the revenue leakages currently being suffered in the system, saying “if you give us that our percentage, revenue leakages will block because you will succeed in removing the basis for cutting corners.”
He noted that with such an incentive, no customs broker would accept to connive with any customs officer to engage in under declaration of cargo or evade duty payment, since the more government revenue increases the more the percentage earnings increases.
According to him, the N1 trillion revenue target “is our challenge and not even the customs. That is what the government wants, customs must implement and our own is to generate it. While we are talking about N1 trillion, may be the money outside there could be N3 trillion.”
He wondered why the federal government has not deemed it fit to pay a percent to customs brokers since it was already doing so with other organisation, pointing out that the Federal Inland Revenue Service (FIRS), NCS have a percentage of their collection, contractors to government like service providers in the ports including Cotecna Destination Inspection Limited, SGS Nigeria Limited and Global Scan Systems Limited all receive one percent free on board (FOB) as incentive when their service is not commensurate with the efforts they make in making importers pay duty.
Business
NCDMB, Dangote Refinery Unveil JTC On Deepening Local Content
Business
Food Security: NDDC Pays Counterpart Fund For LIFE-ND Project
Business
Replace Nipa Palms With Mangroove In Ogoni, Group Urges FG, HYPREP
-
Opinion3 days ago
Checking Herdsmen Rampage
-
Niger Delta2 days ago
HYPREP Trains Lab Technicians To Standardise Water Quality In Ogoniland
-
Sports3 days ago
Coach Eager To Transform El Kanemi Warriors
-
News3 days ago
Tinubu, Govs Forum Congratulate Okpebholo On S’Court Victory …As Obaseki Expresses Disappointment
-
Rivers3 days ago
NDDC: Staff Walk Ten Kilometers To Commemorate 25th Anniversary
-
Rivers3 days ago
VALVA Restates Commitment Education Advancement, Literacy In Nigeria
-
Politics3 days ago
Obey Order On AA In Six Days, Court Directs INEC, Yakubu
-
Niger Delta2 days ago
Cancer Risk: HYPREP, IARC Launch Human Biometric Study in Ogoniland