PH Oil & Gas Free Trade Zone Customs surpass Revenue Target By N11.7B in Q1 2024.
The Nigeria Customs Service, PH Oil and Gas Free Trade Zone Command, has announced a remarkable achievement in revenue generation, surpassing its target by generating a total of N11,745,352,898.00 in the first quarter of 2024. This impressive performance marks an 11.9% increase over the revenue target of N1,245,352,898.00 set for the same period.
A statement recently released by the Command Public Relations Officer, ASC II Paul Gimba, conveyed the commendable accomplishment on behalf of the Customs Area Controller (CAC), Comptroller Abubakar Umar
Comptroller Umar attributed this success to the result of robust and positive engagement with key stakeholders in the industry. He highlighted the significance of stakeholder collaboration in minimizing resistance to customs laws, enhancing problem-solving capabilities, and identifying potential risks and challenges from stakeholders’ perspectives, thereby facilitating trade and revenue collection.
The CAC emphasized that this approach aligns with the policy thrust of the Comptroller-General of Customs, Bashir Adewale Adeniyi MFR, which prioritizes Consolidation, Collaboration, Innovation, and implementation of trade facilitation initiatives.
Furthermore, Comptroller Umar outlined the Command’s ongoing efforts to facilitate trade, including the export of refined sugar from Bundu Sugar Refinery, fertilizers from Notore Chemical Industries PLC, and LNG from Bonny Island. Additionally, the Command continues to oversee the collection of revenue on various goods entering the Customs territory, such as oil and gas equipment, oil well supplies, spare parts, instrumentation, and tubing.
The CAC emphasized the Command’s unwavering commitment to zero tolerance for revenue leakage, which has garnered commendation from the Comptroller-General of Customs. He specifically highlighted a recent commendation received for the recovery of N3,118,444,588.00 by three officers of the Command on February 26, 2024, underscoring the collective efforts and dedication of the Command’s officers and men.
In conclusion, the Customs Area Controller expressed gratitude to the Comptroller-General of Customs and the Management of the Nigeria Customs Service for their recognition of the diligence exhibited by officers, which has significantly boosted morale within the Command.
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