By Shola Fadeyi
Strong indications have emerged that the revenue generation level of the Tin Can Command of the Nigerian Customs Service(NCS) in the first half of this year may plummet , due to the drastic fall that has been experienced in the number of vehicles and the volume of other goods imported through the Command , into the country ,so far ,this year.
Some other Commands in the country, such as Apapa ,Port Terminal Multiservices Limited(PTML) and Tin Can are also experiencing a drop in their revenue generation, due to the fall in the level of imports since the beginning of this year.
Investigation by Marine and Economy Online at the Ports showed that the volume of importation in the first quarter of 2023 was lower when compared with the figure for the corresponding period of 2022.
While the Tin Can Customs Command collected a revenue of N135 billion in the first quarter of 2022 and N274.3 billion in the second half of that year, indications are that the Command may not generate up to that, in the first two quarters of 2023, due to the drop in the level of imports so far, even as it is yet to release , its first quarter revenue .
Apapa Port Command recorded a drop in its revenue collection between January and March , 2023 when it generated N212.5 billion in the first quarter of 2023, as against N264.53 billion it generated in the same period of 2022.
To lend credence to the impact of the drop in the level of imports on the revenue of Customs Commands, the PTML Customs in the first quarter of 2023 generated N43.7 billion as against N51.2 billion in the corresponding period of 2022, a difference , of about N7 billion.
When asked about the impact of the drop in the importation of cars and other goods on the Command’s revenue generation for the first qquarter, the Controller of the Tin Can Command, Comptroller Olakunle Oloyede, said that the level of imports have been low, pointing out that revenue generation is dependent on the availability of imports. He was however optimistic that situations would improve as the level of importation increases.
Experts attributed the reduction in the level of imports into Nigeria this year so far, and subsequent crash in the level of revenue recorded by the Customs Commands during the period, to the pre election uncertainties, which made some importers to tarry awhile before importing goods, while others reduce the volume , till when they are sure of the direction of the Presidential elections and the policy direction of the next administration.
The cash crunch in the economy , occasioned by various fiscal and monetary policies, of the Federal Government, and the usual lull which characterizes importation in the first quarter of the year was also blamed for the low imports so far this year.
A revered customs agent , maritime expert and Chairman / Managing Director ,Eyis Resources Limited , Mr Lucky Amiwero, who also attributed the sharp fall in imports to the high exchange rate, leading to high cost of importing goods, the cash crunch and some import policies on vehicle importation, which he said have made importers to abandon the use of the Nigerian Ports.
Amiwero said the lull in imports will extend to the middle of this year and beyond for the fact that importers will still watch the policy thrust of the next political administration on importation and the economy, before embarking on fresh importation of goods.
It was however gathered that the Tin Can Command Controller is already out to utilize his experience and expertise in ICT to further plug loopholes in revenue generation ,collect all duties due to government on available imports and ensure that the revenue collection , will not be so low, even in the face of decline in level of imports.
