Customs Revenue at PTML Command, Lagos Rises 44.3 %

Comptroller Dixon, CAC of PTML Command

Revenue recorded   by the Nigerian Customs Service (NCS)  from all its activities at the Port Terminal Multipurpose Limited (PTML) Command, Tin Can , Lagos  between  January and February this year   rose by 44.3  per cent compared to the level in the corresponding period of 2018.

Statistics collated at the Command showed that  it realized a total sum  of N24,874,827,875  during the period  as against  N17,235,057,697 in  January and February  last year.

The Public Relations Officer of the Command, Muhammed Yusuf said that N14,850,154,616 was realised as revenue by the Command in January this year while N10,024,673,259 was recorded in February.

Yusuf attributed the revenue increase to the rise in the cargo throughput, that is the number of vehicles  and containers imported into the country through the PTML Terminal and the Command  during the period and the efforts of the Controller of the Command, Comptroller(Mrs)  Dixon F.O  including  the diligence and commitment  of  the officers and men at collecting the requisite revenue on the imports.

It was discovered that revenue realised in January  2019 surpassed that of the corresponding period of 20118 by 49 per cent while that of February exceeded that of the same period of 2018 by 38 per cent.

However,  It was learnt that the increase in the level of revenue recorded in January over that of February is due to the spillover from the last quarter of every year that is characterized by rise in the importation of cars  by Nigerians living abroad who always use the proceeds from the sale of such automobiles for the  Yuletide or investment  during their stay in the country for such celebrations.

The Command derives its revenue from vehicles imported into the PTML  Terminal , which has Roll on Roll off(RORO)  facilities  for the handling of vehicles. The Terminal accounts for an appreciable percentage of automobiles imported into the country .

The PTML Terminal and by extension the command  had experienced  a sharp decline in the number of vehicles shipped into the country through it up till  2016 due to the negative impact  of the fiscal policy of government in the guise of the imposition of high tariff  of 35 per cent and another 35 per cent  levy on vehicles , both used and new as part of the automobile policy meant to encourage the assemblage/ production of cars in Nigeria.

The high tariff had scared most importers away  from the patronage of Nigerian Ports  for the use of other countries  seaports like those in Cotonou , Benin Republic , Lome, Togo  and Accra, Ghana  among others  while most of  the vehicles they import through these seaports are subsequently smuggled into the country .

But the Command’s fortunes changed for good when the Federal Government directed that from January 2017   all vehicles should henceforth be shipped into the country through the seaports, making it illegal since then for any vehicle to be imported through the border posts with the the intent of wanting to pay duty on them and thus forcing most of the legal importers to resume their patronage of the Command.

 

Be the first to comment

Leave a Reply

Your email address will not be published.


*