The apex bank had as part of measures to stem the free fall of the naira against other international currencies such as the dollar placed restrictions on a total of 41 items of import, which has drastically reduced the volume of goods imported into the country by more than 50 per cent and by extension the revenue generated by the service.
The revenue figures released by the Tin Can Island command of the service, which is the second highest revenue collecting command after Apapa, shows a total of N73.1billion was collected for the period covering January-April, 2016.
This represents a shortfall of N8.8billion when compared to the. N81.9billion collected in the comparative period of 2015. Details of the revenue profile of the command under the review period show that a total of N24.9billion and N16.7billion was collected in the months of January and February 2016 respectively as against the N20.9billion and N19.2billion collected in the months of January and February 2015 respectively.
Similarly, a total of N17.2billion was collected in the month of March 2016 while N14.3billion was collected in the month of April 2016 as against the N21.5billion collected in January of last year while N20.3billion was collected in the month of April, 2015.
A seven-year revenue profile covering January=April shows that a total of N51.5billion was collected in the 2010 while N58.5billion was collected in the first five months of 2011 as against the N68.1 billion collected in the comparative period of 2012. Other details show that N69.5billion was collected in 2013, which increased significantly to peak at N86.4billion in 2014, which remains the highest revenue collection for five months in the last seven years.
Things however started taking a turn for the worse when the command’s revenue plunged by over N4billion in 2015 to peak at N81.9billion between January and April 2015 and further declined to N73.1billion under the review period of 2016.
