The comptroller General of the Nigeria Customs Service (NCoS) Hameed Ali is recounting how the nation lost over N400b owing to insecurity, especially in the northeast in the year 2022.
Other factors responsible for the revenue shortfall according to the Customs boss include bureaucracies in government policies.
Speaking with reporters after a meeting with President Muhammadu Buhari at the Aso Villa in Abuja on Thursday.
READ ALSO: Customs Intercept Fake Dollar Notes Worth N2.7bn At Seme Border
The targeted revenue for the Service for 2022 was N3.1 trillion, but it could only generate N2.6 trillion, the CG said.
“The shortfall of N400bn plus is due to a lot of factors,” he said, listing them as the fluctuation of the naira, the physical policies, and border issues among others.
“So, if you put all these factors together, and look at the target we were given, you can now come to the conclusion the sheer amount of money that would have come to the government that is out there,” the CG said.
During the meeting, the Secretary General of the World Customs Organization, Mr Kunio Mikuriya called for more investment in border securities to allow the service to perform its role effectively.
Anthropodermic bibliopegy -- the practice of binding books in human skin -- was once a…
The NBS reported that petroleum products imports accounted for about 33 per cent of total…
This year's celebration comes amid a biting economy shaped by the rising cost of living,…
The personnel will ensure the protection of critical national assets and forestall any form of…
Easter is an event that commemorates the resurrection of Jesus Christ from the dead. It…
To bridge the energy access gap in Nigeria, Kyari said NNPC Ltd was working on…