Monday, February 22, 2016 6:58 am
At the Seme Command of the Nigeria Customs service, the slide in the value of the Naira is having a negative impact on generated revenue.
The current, unprecedented high exchange rate has shrunk earnings at the border considerably, from N1.4 billion in December 2015 to N655.3 million in January 2016.
The January revenue is N743 million lower than what the command generated the previous month.
If the fall in the Naira’s value persists, expectations of higher earnings from the NCS in line with government’s desire to increase internally generated revenue may be a tall order.
The task of the customs officers is made even tougher by the rigid resolve of the new leadership which is bent on advancing best and transparent services.
‘’ The high exchange rate and the uncompromising resolve of the new leadership to strict adherence to procedures and guidelines contributed to the low revenue generated,’’ says Selechang Taupyen, spokesman of the command.
Meanwhile, the command has been given a monthly target of N1.1 billion. And while the unimpressive January figures suggest it may be an uphill task, men of the command prefer to appear unfazed.
’’In all these, the command will improve on the revenue collection as we are determined to surpass our monthly target,’’ says Taupyen, while enthusing that the Seme command made 40 seizures in the month under review with a Duty Pad Value, DPV of N20.5 million.
The seized items include frozen poultry products, bags of rice, vegetable oil, vehicles and other goods.