Oil & Gas FTZ Customs Collects Over N27 Billion In 2023

By Asuquo Nuwak
Oil & Gas FTZ Customs Collects Over N27 Billion In 2023
The Port Hacourt Oil and Gas Free Trade Zone Command of the Nigeria Customs Service generate a record-breaking sum of N27,174,373,191.00 in 2023, marking a substantial increase from the N21,217,864,074.00 collected in 2022, representing 12% increment. This impressive result was revealed in a statement signed on 15 January 2024 by Assistant Comptroller of Customs Hauwa Ahmed on behalf of the Customs Area Controller (CAC), Comptroller Abubakar Umar.
The statement showed that the command effectively recovered lost revenue by optimizing unutilized Pre-Arrival Assessment Reports (PAARs) and unpaid assessments. It emphasized that additional assessments, where necessary, played a pivotal role, amounting to N12,118,910,575.00. Moreover, interventions through Demand Notices (DNs) contributed N3,372,420,893.00 to the overall revenue.
Comptroller Umar, outlined the strategies implemented to bolster revenue and prevent leakages, including rigorous training for examination and releasing officers, facilitation of compliant trade, stakeholder consultations, continuous sensitization to enhance understanding of import and export procedures, strict adherence to customs laws, and the implementation of a 100% cargo examination.
Moreso, Comptroller Umar, stated that: “These measures are collectively aim to enhance expertise, encourage compliant trade practices, and reinforce adherence to customs regulations for effective revenue management”.
The Customs Area Controller (CAC) thanked Comptroller-General of Customs, Bashir Adewale Adeniyi and his management team, for fostering an enabling environment that facilitated the command’s remarkable revenue accomplishment.
The Controller highlighted a positive trend in total duty collection from January to December 2023, comparing favorably to the previous year, reflecting an improved revenue performance for the command.
He also acknowledged the command’s facilitation of key exports, including refined sugar from Bundu Sugar Refinery, fertilizer from Notore Chemical Industries PLC, and LNG from Bonny Island.
In conclusion, the Customs Area Controller (CAC) affirmed the command’s commitment to sustained excellence and commended the collaborative efforts that led to the successful revenue outcome in 2023.