Business
Customs Generates N24.8bn Revenue
The Apapa Command of the Nigeria Customs Service (NCS), says it generated N24.80 billion in February up from N24.76 billion recorded in the corresponding period of 2017.
The Public Relations Officer of the command, Mrs Nkiru Nwalla, made this known in an interview with newsmen in Lagos, yesterday.
She said the command generated N55.81 billion between January and February 2018 up from N50.72 billion generated in the corresponding period of 2017.
“The command had an increase of N5.09 billion from what it generated between January and February 2018 compared to the two months under review in 2017,” Nwalla said.
The NCS spokesperson explained that the increase in February revenue was made possible with the leadership qualities of the Customs Area Controller, Alh. Jibrin Musa.
“He ensured that officers follow the due process of cargo clearing procedures.
“The command also started with the deployment of Nigeria Integrated Customs Information System (NICIS 11) which assisted in blocking all revenue leakages,” she said.
Nwalla said that NICIS 11 was an upgrade of NICIS 1, which had more efficient and functional capabilities to facilitated quick cargo clearance at the various ports.
“The NICIS 11 will increase compliance level among the port users and boost revenue collection for government.
“Our appeal to port users is total compliance because NICIS 11 gives stakeholders quick access to the customs procedures,” she said.
Nwalla urged freight forwarders and clearing agents to comply with all fiscal policies to ease the time of doing business in Nigerian ports.
She said the command would ensure that there was due diligence in the collection of all revenue accruable to government.
She commended NSC for training stakeholders and customs officers in the use of NICIS 11 procedures saying that “everyone is better informed and it has helped in the improvement of the job.”
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Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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