By Ajibola Adedoye
The Nigeria Customs Service (NCS) Lilypond Export Command has announced processing a total of 5,891 (20ft and 40ft) containers valued at $236,087,888.53 in the first quarter of the 2024 fiscal year.
Comptroller Ajibola Odusanya, the Customs Area Controller who made this known in the media briefing on the activities of Command on Tuesday, April 16, 2024.
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The Area Controller said “These comprise of diverse commodities such as agricultural produce, manufactured goods, solid and extractive minerals, among others”.
While giving the breakdown, Compt.Odusanya stated that ” A total of 4,229 (20ft and 40ft) containers were filled with agricultural produce, generating earnings amounting to USD$153,426,308.00. Notably, the Nigeria Export Supervision Scheme (NESS) received a payment of ₦916,492,465.00 underscoring the robust contribution of agricultural exports to the national economy.
“With 629 (20ft and 40ft) containers dispatched, manufactured goods contributed significantly to export revenue, totaling USD$22,289,340.77. The NESS payment to the FGN amounted to ₦112,905,501 reflecting the sector’s resilience and competitiveness in the global market.
“The export of solid and extractive minerals witnessed a notable upsurge, with 753 (20ft and 40ft) containers dispatched, valued at USD$34,107,959.01. The NESS payment of ₦224,162,113.74 highlights the immense potential of Nigeria’s mineral resources on the international stage.
“Additionally, various goods such as plants & machinery, and personal effects were exported in 280 (20ft and 40ft) containers, contributing USD$26,264,280.07 to export revenue. A NESS payment of ₦135,771,439.38 was made, emphasizing the diversified nature of Nigeria’s export portfolio” he stated.
Speaking further, the Area Controller disclosed that “A comparative analysis reveals a substantial growth trajectory in Q1 2024 compared to the corresponding period in 2023. Total containers processed in 2024 Q1 surged by 44% to reach 5,891(20ft and 40ft) containers as against 3,784 (20ft and 40ft) containers processed in 2023 Q1, signifying heightened trade activity at the Command.
“Export commodities’ value also surged by 42% to USD$236,087,888.00 as against $154,459,566.39 recorded in 2023 Q1, underlining the sustained momentum in export performance.
“NESS payment witnessed an impressive 114% increase, reaching ₦1,389,331,520.15 from ₦378,268,430.57 received in 2023 Q1, indicative of enhanced revenue generation and compliance. Surcharge payment for plants & machinery, and imported goods doubled from NGN 8,785,188.00 in 2023 Q1 to NGN 18,218,964.00 in 2024 Q1 representing a 70% difference, aligning with fiscal policy directives” he concluded.
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