Apapa Customs Command Sets  N1.5trillion Self Revenue Target For 2023

Apapa Customs Command Sets  N1.5trillion Self Revenue Target For 2023

Customs Area Controller(CAC) of the Apapa Customs Command, Comptroller Babajide Jaiyeoba, has stated the command’s readiness in achieving a revenue target of N1.5 trillion for the year. This target surpasses the N1.426 trillion set by the Customs headquarters.

Compt. Jaiyeoba said this when the League of Maritime Editors (LOME) paid him a courtesy visit,  to intimate the command about the fourth-coming celebration of the silver jubilee of the foremost maritime media association in Nigeria

Asked how he plans to achieve this goal, considering that the command’s revenue as at October 30, 2023, stood at N900 billion, Jaiyeoba credited importers and freight forwarders for their compliance with measures put in place to prevent trade infractions. The Command collected N136.39 billion in revenue by the end of October, compared to the N109 billion recorded in September. Notably, Jaiyeoba took over as the Apapa Command Area Controller in the middle of September 2023.

Jaiyeoba attributed the increased revenue and the surpassing of monthly targets in October to the various measures he has implemented, emphasizing the importance of honest clearing and the reduction of delays in the clearing process, which can lead to unnecessary costs and demurrage. Additionally, he mentioned that economic challenges like the depreciation of the Naira value in the international market are factors affecting trade.

The CAC attributed this success to series of innovative measures he implemented. Since taking office in mid-September 2023, he focused on enhancing due diligence among agents and importers using the command’s services. These efforts resulted in a substantial improvement in revenue collection.

Jaiyeoba highlighted the importance of engagement with stakeholders, especially importers and agents. The command actively advised, provided solutions, and educated them on the advantages of full compliance with duty payments. The collaboration between the command and stakeholders not only facilitated smooth customs clearance but also increased revenue.

One remarkable achievement was a record-breaking single-day revenue collection of N9.7 billion, despite challenges posed by the fluctuating exchange rates and a reduction in the volume of imports. This accomplishment was largely attributed to the clearing agents’ commitment to honest declarations, ensuring quicker clearance and reducing unnecessary delays.

Understanding the financial implications of delays in the clearing process, Jaiyeoba had introduced strategic changes to minimize trading costs for the benefit of importers and traders. These reforms attracted traders and improved compliance with revenue payments.

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The commitment to changes and  performance were lauded by Wale Adenuga, the Command’s DC Revenue, who confirmed the ambitious revenue target for 2023.

The CAC’s commitment to addressing economic leakages and streamlining trade processes indicates a strong determination to achieve the N1.5 trillion target.

During the visit, the President of the League of Maritime Editors LOME), Chief Timothy Okorocha discussed the forthcoming 25th anniversary of the League and the distinguished personalities expected to attend the auspicious event, further solidifying the partnership between the customs and maritime community. The event, according to Chief Okorocha,  aims to foster collaboration and improvements in the maritime sector.

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