By Stephen Ubanna
Basir Adewale Adeniyi, MFR, Comptroller General, Nigeria Customs Service, NCS, appears to have won the heart of Bola Ahmed Tinubu, President and Commander -In-Chief, of the Nigerian Armed forces barely one and half year in office.
This is because of his performance, which the Nigerian President had described as very impressive, prompting him to give his word at the just concluded CG’s Conference in Abuja, the Federal Capital Territory, FCT,’’ to support the service modernization, and reform initiatives under the present Leadership of the service in order to continue to make the positive impacts on the country’s economic growth and development drive.
The Nigeria President may have gladdened the heart of the Customs Comptroller General, described as ‘’tireless in Customs circles as he works till 4 AM on a daily basis before going to be bed to ensure that no letter or file from the minister’s office, or any of the Departments from the Customs Headquarters, Zonal or Area Commands are left untreated when he gave his words that the Administration will continue ‘’to provide the necessary policy backing and ennoblement required to enable the Customs Comptroller General and his Management team to deliver on their mandate of service delivery .
The President may have given the Customs Comptroller General a food for thought when he said at the gathering of the Customs Chiefs at the FCT, that ‘’economic transformation requires sustained commitment, innovation, technology and adaptation to emerging global trends’’.
The President who could not hide his feelings had said that the Administration’s economic reform depends on the Customs’ efforts to enhance trade Facilitation with regulatory Compliance at the nation’s seaports and Land border Areas.
Many believe that Adeniyi, the Customs Comptroller could beat his chest that he had improved on the revenue collection of the service since he came onboard in June 2023, by ensuring the deployment of Competent Customs Comptrollers to the various Area Commands.
Indeed , the performance of the foursome, Comptrollers Babajide Olomu, Dera Nnadi, Tenny Daniyan and Mohammed Bandede, of Apapa, Tincan Island, Port Multisevices Terminal Limited, PTML, and PortHarcourt, II Onne, Commands respectively, despite the drop in the cargo inflow into the ports over the last couple of months speaks volume.
Compt. Olomu of Apapa Command, ma have y used the experience garnered at the Edo/Delta Command, where there was no visible source of revenue collection as the cargo ladened vessels were notcoming to the Warri port because of the activities of Pirates and kidnappers on the high seas or reputable functional excise Factories as obtained in Lagos or Ogun I, Command, Abeokuta, but was able to turn it to a revenue generating Command and to make Apapa Command that handles over 60 % of the Country’s imports to still remain atop in the service revenue collection without shaking.
Effectively engaging the services of the Deputy Comptrollers overseeing the Command’s Valuation Seat, Enforcement, Revenue and DC. Frank Oyeka, who oversees the exit gate to tighten up security, importers with their agents may have learnt their first lesson that there is no shortcut to delivery of their cargoes at the port but to do the right thing.
It was not surprising why the monthly revenue collection of the Command have continued to go up as the importers with their agents have become more compliant to avoid playing into DC.Oyeka’s hand at the exit gate where Debit Note, DN, that runs into millions of naira ware issued to guilty importers through their agents.
The impressive revenue collection of the foursome, in their respective Commands, particular, Comptrollers Olomu and Nnadi, of Apapa and Tincan Iland Commands, appears to have pushed up the service revenue generation in 2024, of as Adeniyi, declares a N5.7 trn, revenue collection, which was said to have been paid into the Federation Account against the N5.1 trn set for it by the FG.
Appearing on Arise Television on Wednesday, November 13, 2024, the Customs Comptroller General, had said that technological advancement in the system, the resilience of the officers and collaboration with other relevant agencies at the seaports and Land border stations and the efficiency in the system had helped the service to surpass its monthly revenue targets and subsequent yearly target set by the FG, in 2024.
Although, the 2024, Fiscal year, still have two months to come to the end the year, meaning that the service will collect and pay more revenue into the Federation Account. Adeniyi, the Customs had confirmed that the revenue generation of the service may hit over N6 trn, by December 31, 2024, noting that a lot of factors such as the unification of the official and the Parallel, popular, Black Market exchange rates, which currently fluctuates, around N1,696.00 – N1,750.00, to one US, dollar, cargo throughput, and rate of Inflation in the economy
With the impressive revenue collection of the service in 10 months and the proposed N47.9 trn, in 2025, Fiscay year, revenue target , pegged at $75 per barrel in the international oil market, , exchange rate of N1,400 00 to the North American country of the United States , US, dollar, and oil production level of 2.06 b/d, and $2.2 billion borrowing plan, made up of $1.7 billion and SUKUK financing of $500 million.
Wale Edun, minister of Finance and Coordinator of the Economy had said that the external borrowing approval when finalized by the National Assembly, will grant the Nigerian Government access to international Capital market for some combination of the Ero bond and SUKUK Financing. The Federal Government is also expected to rake in the sum of N250 billion from the real estate investment Fund.
This may have emboldened the Budget and National Planning minister to say that the NCS, which collects the country’s non- oil revenue will collect more revenue for the government in 2025, as the parameters for the 2025-2027, Medium Term physical framework , which includes an oil price benchmark of $75 per barrel, , oil production of 2.06 million b/d as well as exchange rate of N1,400.00 to the US , dollar , and GDP, growth OF 4.6% had been included in planning the 2025 budgetary provision. Already, the NCS, are warming up for higher revenue target for 2025 and the mind of the Customs Comptrollers overseeing the Area Commands, were said to have been prepared towards that to avoid taking them unawares.
There is no gain saying the fact that the National Assembly, will rubber stamp the approved 2025, approved proposed budget by the Federal Executive Council, FEC, going by the explanation of Atiku Abubakar, a former governor of Kebbi state and now minister of Budget and National Planning.
The minister had said that the budget approval by the FEC, was part of the Medium Term Expenditure Framework, MTEF, for 2025 -2027, which he had said was in accordance with the Fiscal Responsibility ACT, 2007.
He may have alluded to why the NCS and other revenue collection agencies performed excellently well in 2024, to the fact that the FEC, had reviewed the 2024, budget implementation, despite lags in projected targets and overall trajectory. The minister was emphatic that the key non-oil streams, particular, NCS and the Department Revenue Services, formerly Federal Inland Revenue Services, FRS, among other agencies will more revenue for the government in 2025.
The former Kebbi state governor noted that now the Nigerian Economy had significantly turned in the right direction, achieving gross positive growth rate in economic stability, which had included the parameters for the 2025-2027, MTEF, will ensure thatthe non-oil sector do much better in revenue collection in 2025.
