The Nigeria Customs Service generated N837 billion between January and July 2020, according to its Comptroller General, Hameed Ali.
Mr. Ali gave the information during the continuation of an interactive session organized by the Senate joint committees in finance and national planning on the 2021-2023 MTEF/FSP.
He added that the Service is projecting total revenue of N1.465 trillion for 2021, N1.704 trillion for 2022, and N1.758 trillion for 2023.
During the Senate session, the Comptroller General warned that the World Trade Organisation (WTO) agreement and the Africa Free Trade Agreement recently signed by Nigeria will adversely affect Nigeria’s revenue generation drive in the coming years.
He said the two agreements will allow goods to come into Nigeria at zero tariffs.
The Customs boss said he is not in support of a policy arrangement which makes it possible for Coca-Cola to continue to produce in Nigeria without paying anything to the Nigerian government.
Reacting, Senate President, Ahmed Lawan said the agreement with Coca Cola is a misnomer as Coca Cola is an international brand and a dominant player in the beverage industry.
