Business
Tin-Can Customs Rakes In N78.8bn In Three Months
The Tin-Can Island Port Command of the Nigeria Customs Service (NCS) says it generated N78.8 billion in the first quarter of 2019, up from N76.7 billion realised in the corresponding period of 2018.
NCS Area Controller, Mohammed Musa made this known to newsmen in Lagos, yesterday.
He said the command projected an income of N84 billion during the period under review but it generated about 94 per cent of the target.
Musa said the command was given a target of N343 billion for 2019, saying that it surpassed the target for two months but the election holidays affected the revenue in March.
He said the command was working hard to boost the revenue and surpassed the revenue generated in 2018.
According to him, the command is committed to the transformation of revenue collection and reporting system with the implementation of Nigeria Integrated Customs Information System (NICIS).
“There is improvement on compliance in the command, mostly because of the policies and directive from the headquarters insisting on 100 per cent examination of imported cargo with regard to protection of the environment.
“The Comptroller-General of Customs (CGC), retired Col. Hameed Ali has also directed that all pharmaceutical products must be cleared from the ports, meaning that there should be no movement of pharmaceutical products to outside terminal.
“The directive was made to control the influx of Tramadol and other related goods imported into the country.
“The command also intercepted used tyres, second hand clothing and six containers of foreign parboiled rice in the period under review,” Musa said.
He reiterated that the command would work hard to make the second quarter revenue generation better than the first quarter.
The command boss said that there were relative peace and calm in the command due to the high level engagement, saying that its doors are open to interpretation at all times.
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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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