Nigeria Customs Records $518m Exports In 10 Months

November 3, 2023
Nigeria Customs Records $518m Exports In 10 Months

The Lilypond Export Command of the Nigeria Customs Service (NCS) has announced that it had overseen the exportation of 12,438 containers, with a Free On Board (FOB) value exceeding $518 million, between January and September 2023. Customs Area Controller, Comptroller Ajibola Odusanya, shared this news in a statement from Lagos on Thursday.

Breaking down the numbers, Odusanya stated, “From January to the end of September, the command has facilitated the export of 12,438 export containers. We have 6,524 20-foot containers and 5,914 40-foot containers, all totaling a FOB value of $518,690,852.93.”

Join our WhatsApp Channel

READ ALSO: UK, Global Partners Commit £80 Million To Improve AI Development In Sub-Saharan Africa

Agricultural products, locally manufactured goods, and solid minerals comprised the bulk of these exports. Odusanya detailed, “We have agricultural produce such as cocoa, cashew, soya, ginger, hibiscus flower (zobo leaves), cotton, sesame seeds, and others. Additionally, we have locally manufactured goods like cigarettes, cosmetic items, beverages, and solid minerals such as aluminium, copper, magnesium, lithium, and zinc. Other sundry commodities like foodstuff and personal effects were also part of this successful export story.”

Highlighting the efficiency of the Lilypond Export Command, Odusanya described it as a “one-stop shop for export business.”

He emphasized that Nigeria’s current government policy mandates zero duty payment for exports, with exceptions only for goods being re-exported. Exporters, under government permission, pay a 2.5% levy on the current value of their goods.

The Maritime Union Chairman of the Lilypond Export Terminal unit, Augustine Umunnakwe commended the command’s efficiency but highlighted a major challenge—insufficient manpower when dealing with shipping companies. This demonstrates Nigeria’s growing prowess in international trade and exportation.

Emmanuel Ochayi

Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.

First Transshipment Vessel Arrives Lekki Port
Previous Story

Decongesting Nigerian Ports: What NPA, Customs Need To Move 7,500 Overtime Containers, Cargoes

MTN Service Down Time Caused By Damaged Undersea Cables
Next Story

MTN Plans Financial Expansion With N52.895bn Recapitalization

Featured Stories

Latest from Business

Unity–Providus Merger: Customers May Face Short-Term Disruptions

The proposed merger between Unity Bank Plc and Providus Bank Limited has entered its final stage, with integration activities underway following regulatory approval and shareholder backing. For customers, the main concern is likely to be short-term disruption as the two banks combine
First Transshipment Vessel Arrives Lekki Port
Previous Story

Decongesting Nigerian Ports: What NPA, Customs Need To Move 7,500 Overtime Containers, Cargoes

MTN Service Down Time Caused By Damaged Undersea Cables
Next Story

MTN Plans Financial Expansion With N52.895bn Recapitalization

Don't Miss

Seplat Shareholders Demand Sack Of CEO, Board Amid Legal Fees Controversy

Seplat Appoints Samson Ezugworie To Replace CEO, Roger Brown

Seplat Energy has appointed the company’s Chief Operating Officer, Samson
Sunday Dare

Meet Tinubu’s New Special Adviser On Public Communication Sunday Dare

The Presidency on Wednesday, 23 October, announced the appointment of