Tin-can Island Port Customs Command Surpasses Q1 Revenue Target by 139%

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The Tin-can Island Port Command of the Nigeria Customs Service (NCS) has exceeded its revenue target for the first quarter of 2024 by an impressive 139%, announcing a total collection of N304 billion compared to N127 billion in the same period last year.

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Customs Area Controller (CAC) of the Command, Dera Nnadi, revealed that the Command also witnessed a significant surge in the volume of exported goods, marking a 72.5% increase from 145,906.33 metric tonnes in Q1 2023 to 251,679.89 metric tonnes in Q1 2024.

This surge in export volume corresponded to a remarkable 300% increase in the Free On Board (FOB) value of exports, soaring from N80.9 billion in Q1 2023 to N287.8 billion in Q1 2024.

Breaking down the revenue collection, Nnadi disclosed that the Command collected N88.4 billion in January 2024, representing a 107.9% increase from N42.5 billion in January 2023. In February 2024, revenue collection amounted to N100.4 billion, a staggering 141.8% rise from N41.5 billion in February 2023. March 2024 saw the Command collect N115.1 billion, marking a remarkable 163.9% increase from N42.8 billion in March 2023.

Nnadi expressed gratitude for the support from the Comptroller General of Customs, B A Adeniyi, and his management team, highlighting their efforts in enhancing the capacity of the Service and implementing innovative strategies to fulfill its statutory responsibilities in accordance with international standards.


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