The Lilypond Export Command of the Nigerian Customs Service (NCS) says its Nigeria Export Supervision Scheme (NESS) payment stood at N1.39 billion as at first quarter of the year.
The Customs Area Controller (CAC), Lilypond Export Command, Comptroller Ajibola Odunsanya, said this at a news conference in Lagos on Tuesday.
The figure represents an increase of N1.01 billion when compared to N328.2 million posted in the first quarter of 2023.
Odunsanya said that the command also recorded revenue worth $236 million in the first quarter, attributing the success to enhanced revenue generation and compliance.
He added that surcharge payment for plants and machinery as well as imported goods doubled from N8.78 million in the the same period of 2023 f to N 18.2 million during the year under review.
According to him, the increase in growth is due to the command aligning with fiscal policy directives.
He said, “In the first quarter of 2024, the command processed a total of 5,891 (20ft and 40ft) containers valued at $236,087,888.53.”
“These comprise diverse commodities such as agricultural produce, manufactured goods, solid and extractive minerals, among others. The breakdown of export activities is as follows: Agricultural Produce, a total of 4,229 (20ft and 40ft) containers were filled with agricultural produce, generating earnings amounting to $153.4 million and receiving N916.4 million under NESS, underscoring the robust contribution of agricultural exports to the national economy.”
“Not less than 629 (20ft and 40ft) containers dispatched, manufactured goods contributed significantly to export revenue, totaling $22.2 million the NESS payment to the FGN amounted to N112.9 million, reflecting the sector’s resilience and competitiveness in the global market.”
Odunsanya also explained that the export of solid and extractive minerals witnessed a notable upsurge, with 753 (20ft and 40ft) containers dispatched, valued at $34.1 million, representing a NESS payment of N224.1 million.
This, he added, highlighted the immense potential of Nigeria’s mineral resources on the international stage.
“Additionally, various goods such as plants & machinery, and personal effects were exported in 280 (20ft and 40ft) containers, contributing $26.2 million to export revenue with a NESS payment of N135.7 million was made, emphasising the diversified nature of Nigeria’s export portfolio,” Odunsanya said.
According to him, total containers processed in first quarter of the year surged by 44 per cent to reach 5,891(20ft and 40ft) containers as against 3,784 (20ft and 40ft) containers processed in first quarter of 2023 that it also signified heightened trade activity at the command.
He stated that export commodities’ value also surged to $236 million as against $154.4 million recorded in the first quarter of 2023, underlining the sustained momentum in export performance.
The News Diet
