Exports through Apapa port rise 8,525% in H1’22 — Customs

Export through Apapa port rose by 8,525 percent in the half-year 2022, HI’22, when compared to the same period last year, HI’21.

While rendering the performance of his Command, Friday, the Customs Area Controller, CAC of Apapa Area 1 Command of the Nigeria Customs Service, NCS, Malanta Yusuf, said that the Free-On-Board, FOB, of export for the first half of 2022 was $138 million (N6.21 billion) compared to $1.6 million (N720 million) in the same period last year.

The Apapa Customs boss attributed the increase in export to the Federal Government’s export policy.

According to him, “In line with the Federal government efforts to diversify the economy through non-oil export, the command recorded a boom in the exportation of non-oil commodities with about 2.5 million metric tonnes, above the five hundred and forty thousand (540) metric tonnes in the year 2021.

“The Free on Board (FOB) value for the exported items also rose from $1.6 million in the year 2021 to $138 million in 2022. Items exported include steel bars, and agricultural and mineral products amongst others.

“The Federal Government policy and export incentive schemes have played vital roles in boosting export trade in Nigeria,” he noted.

On collections, he said, “In the period under review, the command collected revenue to the tune of N522.4 billion. This shows a significant increase of N156 billion as against N366.5 billion naira collected in the corresponding months of the year 2021, representing a 42.5% increase in revenue collection.

“This feat was made possible because of our officers’ resilience in ensuring identified revenue leakages have been mitigated while sustaining the level of compliance by the importers/stakeholders in the clearance value chain.”

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WOW,,, growth☺️??
1y ago
Yea good one
1y ago
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