Customs to keep 4% of import earnings as operating cost | The Guardian Nigeria News - Nigeria and World News

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The Nigeria Customs Service (NCS) will henceforth keep over four per cent of the free-on-board value of imports for its operations in line with international best practice as provided by its enabling act.

This is the first time since its inception the service will finance its statutory responsibilities from the revenue it generates as provided in Section 18 of the recent Nigeria Customs Service Act .

He said this makes it faster for the service to implement its capital projects as quickly as possible to enhance the performance of officers in service delivery. Abejide said the Bill was declined presidential assent three times with meetings held with the Ministry of Justice, Ministry of Finance and the Nigeria Customs Service, which saw it assented to on April 27, 2023 by the former President Muhammadu Buhari.

“Our effort is providing policies statutorily implanted, which invigorates the objectives of keeping our borders safe and making avenues of leaked revenue accountability lean, hence this institution shall in the shortest period, reap the dividends of this legal framework that gear up the ease of doing business in Nigeria,” he said.

 

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