Customs collected N189.79b revenue last year
The Nigeria Customs Service (NCS), collected N189.79 billion revenue last year.
An NSC annual report made available to the News Agency of Nigeria (NAN), in Abuja stated that it also contributed N344.39 billion into the non-federation accounts on behalf of other agencies.
It said under the Federation Account, N157.39 billion was collected as import duty, N30.34 billion as excise duty, and N2.05 was collected as other fees.
The collection under the non-federation account included N13.45 billion port levy, N810.3 million sugar levy, N86.4 billion from VAT for the Inland
Revenue, awhile N4.36 billion was for the National Automotive Council (NAC).
According to the statement, the NSC collected N18.7 billion from Comprehensive Inspection Supervision Scheme (CISS).
Others are N11.1 billion for ECOWAS Trade Liberation Scheme (ETLS), N20.07 billion as rice levy, N1.01 million for steel levy, N330.3 million for National Export Supervision Scheme (NESS), and N482,424 for cigarettes.
According to the reports, a total value of NN54.9 billion was recorded as concessions/waivers in the year of reference.
They include revenue loss of N18.2 billion due
to exemptions/ waivers, N1.49 billion revenue loss due to ETLS, N564.9 million revenue loss due to concessionary duty rates granted bona fide manufacturers/assemblers.
Other revenue losses are N256.05 million revenue loss to exports processing/excise factory (EPF), N3.8 million loss due to concessions to Manufacturers-in-Bond-Scheme (MIBS) and N36.4 billion loss due to National Duty Credit Certificate (NDCC) waivers.
The figures showed that 2006 collection into the Federation Accounts was less than the previous year by N37.1 billion.
Collection into the Federation Account in 2006 was N189.8, while collection into the same account in 2005 was N226.9.
The figures also showed that collections into the non-federation accounts was higher in 2005 by N8.1billion than 2006.
Collection into non-federation account in 2005 was N349 billion, while collection into the same account in 2006 was N344.9 billion.
The report said that the lower amounts of collections recorded in 2006 could be attributed to waivers and concessions that became monumental in that year.
``If the N54.9 billion which accounted for waivers and concessions in 2006 were added to other collections, the 2006 collections would have been higher than the 2005 collections by N9.7 billion,'' it said.