Suggestions




·

N1.33trn Revenue Target For NCS Too Low – Reps

August 24, 2021
by
The Nigeria Ports Authority (NPA), the Nigeria Customs Service (NCS) and three other agencies have been accused of illegal auction of Federal Government properties. 

House of Representatives Committee on Finance on Monday rejected the N1.33trn revenue target of the Nigeria Customs Service (NCS) for 2022 saying it was too low.

The Committee, at an interactive session on the 2022-2024 Medium-Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) stated that with new technologies and devaluation of the naira, Customs should be able to generate more revenue.

Join our WhatsApp Channel

The Comptroller-General of Customs, Hameed Ali, had earlier told the committee that the NCS proposed to generate the sum of N1.33trn in 2022.

Ali said the service came up with the figure after analysing the average revenue collection in the previous and was trying to be as realistic as possible.

He said the unavailability of scanners at the ports makes it difficult to monitor all the goods imported into the country, arguing that “once the scanners are available, smuggling will be reduced to the barest minimum”.

Responding to the NCS Boss, a member of the committee, Leke Abejide (SDP-Kogi), said the NCS should be able to generate N2trn in 2022. His position was supported by Ahmed Muhktar (APC-Kaduna).

Chairman of the Committee, James Faleke (APC-Lagos), said that at the beginning of every year, the Budget Office takes a critical look at the expected revenue generation of the country.

He said that was done to know the required funds and make adequate preparation for borrowing, noting that if more revenue was generated, the country would borrow less.

He said, “We are saying no, that your gross revenue generation is low given all the available opportunities that you have; when you also look at your previous performance 2020 to 2021.

“For us as Committee on Finance, we will not accept the N1.3trn, I am sure by the time our report comes out, you will be pleasantly happy.”

+ posts

Kayode Shopekan

Related Posts

Senate President Ahmed Lawan 1
Previous Story

Lawan Denies Taking Bribe To Pass PIB

Resident doctors
Next Story

Resident Doctors To Hold Meeting In Benin As Strike Continues

Featured Stories

Related Posts

Latest from News

Ford Foundation President Concludes First Official Visit to Nigeria

The President of the Ford Foundation, Heather Gerken, has concluded her first official visit to Nigeria, reaffirming the foundation’s 65-year partnership with the country and its commitment to advancing democracy, human rights and social justice across West Africa. During her visit, Gerken

Kenya to Begin Administering HIV Prevention Drug

Kenya will begin rolling out a new HIV-prevention drug in March, in what health officials have described as a major step forward in the fight against the virus. The drug, lenacapavir, is taken just twice a year and has been shown in
2023 Elections: Governors, Candidates Who Won, Lost At Supreme Court

Ebonyi Governor Eases Curfew After Deadly Attack

The governor of Ebonyi State, Francis Nwifuru, has relaxed a curfew in Amasiri, in Afikpo Local Government Area, following a deadly attack in a neighbouring community. The new curfew now runs from 6pm to 7am, replacing the earlier restriction that kept residents
Senate President Ahmed Lawan 1
Previous Story

Lawan Denies Taking Bribe To Pass PIB

Resident doctors
Next Story

Resident Doctors To Hold Meeting In Benin As Strike Continues

Don't Miss

Ondo Governor Akeredolu Dies At 67

Ondo Governor Akeredolu Dies At 67

The Governor of Ondo State, Rotimi Akeredolu, is dead. According
Supreme Court Grants Hearing Of Shell's Appeal In $878m Oil Spill Case

Shell Pledges $20bn Investment in Nigeria

Chief Executive of Shell Plc, Mr Wael Sawan, has lauded