Lagos Free Trade Zone Command Generates N234B in Revenue Within 8 Months
The Lagos Free Trade Zone Command of the Nigeria Customs Service has made tremendous progress under the leadership of Comptroller Olanrewaju Abdulwahab Olumoh. Since taking the helm five months ago, Olumoh has spearheaded the Command to remarkable growth.
Notably, the Command has boosted the federation account with N41.3 billion and N115 billion in revenue collected from January to June 2024. This impressive performance underscores Olumoh’s commitment to trade facilitation and ease of doing business within the Free Zones.
Comptroller Olumoh expressed his delight with the experience, describing it as wonderful. He emphasized the vital role of the media in keeping the public informed about their activities, considering it absolutely essential. Olumoh acknowledged the outstanding work of his predecessors in establishing the Command and noted that despite its relatively recent inception, the Command has excelled in trade facilitation, one of its primary objectives.
His words “The turn around time for cargoes is very fast and the 13 Free Zones have been very up and doing . Now, India’s biggest conglomerate, the Tata Group is now building its business in this Zone because of the nature of the business environment”.
Comptroller Olumoh has praised the strategic vision of Comptroller-General of Customs, Adewale Adeniyi, whose policy of innovation, collaboration, and consolidation has greatly motivated the officers and men of the Service to excel. Adeniyi’s leadership has been marked by a commitment to enhancing customs efficiency through international collaborations, cutting-edge technologies, and innovative projects.
The Lagos Free Trade Zone Command of the Nigeria Customs Service has seen a remarkable surge in revenue generation. In 2023, they collected ₦74 billion, but as of September 27, 2024, they’ve already reached an impressive ₦234 billion, this is over a hundred percent increase. This significant growth showcases the Command’s effectiveness in revenue generation. It’s worth noting that this achievement aligns with the Nigeria Customs Service’s overall revenue growth trend.
He emphasised that “Our concentration on trade facilitation, the policy of an open door to all stakeholders, a great post clearance audit unit, the intelligence unit, the fast track policy, very good complaint investors at the Free Zones and of course the dint of hard work and good knowledge of operational procedures by officers are the ingredients that have all added to make sure of good performance by the Command”.
He expressed satisfaction with the headquarters’ efforts to provide proper accommodation, which has boosted morale among officers. However, he acknowledged that the issue of inadequate staffing is being addressed currently.
Comptroller Olumoh is optimistic about Nigeria’s economic future, predicting that the country’s market for locally produced goods will experience significant growth. In the next three to five years, he believes the Command’s recent revenue of ₦234 billion will seem modest compared to what’s to come as the Command expands in all areas. He’s confident that the Command will soon become one of the top five revenue-generating Commands in the country.
In addition to focusing on revenue growth, Comptroller Olumoh emphasized the importance of officer welfare. He highlighted that a sick bay has been established at the Command, providing easy access to healthcare and significantly enhancing productivity. This move aligns with the Comptroller-General of Customs’ policies, demonstrating a commitment to supporting the well-being of officers and men.
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