FG earns N2.5 billion every day from TinCan port – Report

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The TinCan Island Command of the Nigeria Customs Service, the command earns an average of N2.5 billion every day.

Adekunle Oloyode, Customs Area Controller in charge of TinCan Island Command, told The PUNCH in Lagos on Wednesday that this was the command’s minimum daily aim.

Oloyode further stated to the outlet that the command had earned more than that in a single day.

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“My target is N2.5bn; that is my daily target. Sometimes, I make N3bn, N4bn and all that, but I don’t want to go less than N2.5bn, which is the target. Yes, we have been making it since we have had the target. You know targets are not cast on stones.

“You may have N2.5bn, you might have N4bn the day after that or N1.5bn, so, it is arranged like that. The target has been there.”

He said that the command’s information communications technology unit was manned by personnel who had undergone thorough training.

Oloyode said that the service was making great efforts to enhance the VIN, or Vehicle Identification Number, in order to support more automobiles of various kinds.

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“I have told the association to get us the list of the vehicles that are not in the system. We are ready. It is not a 100 per cent complete system, but we will continue to upgrade the system to meet the yearnings of the stakeholders.”

The head of TinCan Island Customs added that secondhand cars had no transaction values.

Muda Yusuf, the founder and CEO of the Centre for the Promotion of Private Enterprise, claimed that the change was only a reflection of the currency and that there was nothing truly to celebrate.

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“There is nothing really to celebrate because if you look at the cost of goods generally, this is not too much a reflection of performance. It is more of a reflection of depreciation of the currency. What we were using $10, 000 to buy before has changed in value now. By the time they convert it and compute the duty, it will go up. So, naira depreciation is one of the factors in all these.

“I am not saying they are not performing, but what I am saying is that the depreciation in the currency may also have contributed to the increase because this is a nominal increase. There is a limit to which you can be celebrating this number.”

Source: PUNCH Nigeria

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