Customs
Abejide queries low funding of 2024 Customs budget
Jibo recalled that the service was able to generate the sum of N6.105 trillion in 2024 despite attendant high revenue grants to duty exemptions, waivers, and concessions.
“This is despite a continuous drop in cargo throughput due to economic stiffness, the effect of currency flotation that results in unfavourable trade volume and the expected revenue inflow.
“In the face of the de-excise of many excisable commodities, leaving only a few: cigarettes, beer, and alcoholic beverages and government policy measures that exempted payments of Customs Duties and import VAT on some essential food commodities in 2024, among others,” he said.
However, Abejide decried the low funding of the Customs 2024 budget.
He expressed concern over the poor funding, saying that the performance of the service would have been better if properly funded.
Abejide put the Personnel Cost performance of the budget at 43.5 per cent, Overhead Cost at 46.3 per cent and Capital Cost at 45.6 per cent for 2024.
According to him, this is despite the service surpassing the target of N5.0 trillion to generate N6.1 trillion, representing an increase of 20.2 per cent in 2024.
“I have gone through your 2024 Budget performance and was flabbergasted, astonished, surprised and lack for words to express the level of poor funding of the Nigeria Customs Service.
“This committee would like to know that despite outperforming your target, you could not fund your Personnel cost, Overhead cost and Capital projects, both new and ongoing projects.
“Another shocking revelation is that from January to December in 2024, 60 per cent of the 1 per cent Comprehensive Import Suspension Scheme (CISS), which was part of the revenue source to fund overhead, personnel cost and capital projects, recorded zero revenue.
“It is in the opinion of this honourable committee that you should tell us what went wrong because the purpose of creating 1 per cent CISS was to take care of service providers,” he said.
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