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

Zenith Bank, Skyway Aviation Drag Down NGX Market Cap By N577.40bn

The market capitalisation of the Nigerian Exchange (NGX), also known as the stock market, decreased to N121.55 trillion on Tuesday, February 17, from the N122.12 trillion recorded on Monday, February 16. This represents a decline of N577.40 billion in the market capitalisation,

Soludo Seals Shops for Two Weeks over Monday Sit-at-Home

The Anambra State Government has sealed dozens of shops at two major markets in Idemili North council area after traders failed to open for business on Monday, despite a directive to resume trading. The affected markets are the Building Materials Market in
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

WHO and partners call for renewed global efforts to unite, act and eliminate neglected tropical diseases

WHO and partners call for renewed global efforts to unite, act and eliminate neglected tropical diseases

RTI Fights NTDs – Checking for lymphatic filariasis in Northern

BBN’s Angel Gets Two Plots Of Land From Fans On Her 22nd Birthday

BBNaija 2021 housemate, Angel Smith celebrated her birthday on Sunday