Home NEWSLETTER FG Makes N2.5bn Daily From TinCan Port – Customs

FG Makes N2.5bn Daily From TinCan Port – Customs

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According to the Nigeria Customs Service, the TinCan Island Command earns an average of N2.5 billion every day.

Adekunle Oloyode, the Customs Area Controller in charge of TinCan Island Command, revealed that this was the command’s minimum daily aim adding that there were occasions when the command earned more than that in a single day.

“My target is N2.5bn; that is my daily target. Sometimes, I make N3bn, N4bn and all that, but I don’t want to go less than N2.5bn, which is the target. Yes, we have been making it since we had the target. You know targets are not cast on stones. You may have N2.5bn, you might have N4bn the day after that or N1.5bn, so, it is arranged like that. The target has been there.”

He said that the command had well-trained officers manning its information communications technology unit. Oloyode also said that the service was working hard towards improving the Vehicles Identification Number, VIN, to accommodate more vehicles of different models.

“I have told the association to get us the list of the vehicles that are not in the system. We are ready. It is not a 100 per cent complete system, but we will continue to upgrade the system to meet the yearnings of the stakeholders.”

The TinCan Island Customs boss further said that there were no transaction values on used vehicles.

Meanwhile, the Founder and Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Muda Yusuf, said there was nothing really to celebrate, noting that it was a reflection of the currency.

“There is nothing really to celebrate because if you look at the cost of goods generally, this is not too much a reflection of performance. It is more of a reflection of the depreciation of the currency. What we were using $10, 000 to buy before has changed in value now. By the time they convert it and compute the duty, it will go up. So, naira depreciation is one of the factors in all these. I am not saying they are not performing, but what I am saying is that the depreciation in the currency may also have contributed to the increase because this is a nominal increase. There is a limit to which you can be celebrating this number.”



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