The Nigerian Customs Service, Oil and Gas Free Trade Zone Command has said it generated the sum of N53,977,311,009.00 between January and November 2024, thereby surpassing its annual target for the fiscal year 2024 by 2.3 per cent.
Comptroller of the command, Usman Seriki, who disclosed this while briefing journalists at Onne, Rivers State, said the revenue figure also surpassed year 2023 revenue collected with N26,802,937,818.00, which represents 98.6% increase from last year.
Seriki said: “It is worthy of note to announce that the Command in the period under review surpassed its annual target for the fiscal year 2024 by 2.3% with a revenue collection of Fifty Three billion, Nine Hundred and Seventy Seven million, Three Hundred and Eleven thousand, Nine naira (53,977,311,009.00).
“This revenue figure has surpassed year 2023 revenue collected with N26,802,937,818.00, which represents 98.6% increase from last year.”
He stated that during the period under review, the Command ensured seamless importation and exportation of goods through licensed enterprises in the free zone. He pointed out that the Command has continued to facilitate Trade in the export of refined sugar from Bundu Sugar Refinery, fertilizer from Notore Chemicals, liquidified Natural Gas (LNG), and crude oil from Bonny Island.
Seriki said: “The Command has demonstrated unwavering commitment to excellence, innovation in trade facilitation while maintaining regulatory compliance in this vital sector of Nigeria economy. Through the period under review, the Command has ensured seamless importation and exportation of goods through licensed enterprises in the free zone.
“The Command also oversees the activities of free zone goods received via sea, or air. Including monitoring the value addition by the licensees operating in the zone and monitoring all stacking areas within the zone. The Command continues to facilitate Trade in export of refined sugar from Bundu Sugar Refinery, fertilizer from Notore Chemical PLC and Liquidified Natural Gas (LNG), crude oil from Bonny Island.
“I will like the general public to know that in fulfilling our core mandate of revenue collection, we shall continue to ensure Trade facilitation and compliance to Customs regulations while promoting efficiency and transparency in clearance procedures.
“Also, I would like to sincerely commend and appreciate the Oil and Gas Free Trade Zone Authority for their overwhelming support to our operations and all our stakeholders in the Oil and Gas Free Trade Zone for their cooperation in achieving and surpassing our annual revenue target for the fiscal year 2024 while ensuring trade facilitation.”
The OGFTZ Command boss lauded the Comptroller-General of Customs, Bashir Adeniyi, for his exemplary leadership and visionary initiatives, saying that his unwavering guidance and strategic direction have been instrumental to the achievements recorded by the Command.
