The Nigeria Customs Service (NCS), Oil and Gas Free Trade Zone Command in Onne, Rivers State, has announced a remarkable revenue generation of N53.98 billion from January to November 2024, marking a 98.6% increase compared to 2023 figures.
The Customs Area Controller, Comptroller Usman Seriki, disclosed this during a press briefing at the command’s headquarters on Tuesday, celebrating the command’s success in surpassing its 2024 annual revenue target by 2.3%.
“It is worthy of note that the command surpassed its annual target for the fiscal year 2024 with a revenue collection of N53.98 billion, exceeding the 2023 revenue by N26.8 billion,” Seriki said.
The surge in revenue reflects the command’s commitment to efficiency, innovation, and compliance in the oil and gas free trade sector. “The command has demonstrated unwavering commitment to excellence in trade facilitation while maintaining regulatory compliance in this vital sector of Nigeria’s economy,” Seriki noted.
He highlighted the seamless importation and exportation processes facilitated by licensed enterprises within the free zone, citing significant exports like refined sugar from Bundu Sugar Refinery, fertilizer from Notore Chemical PLC, and liquefied natural gas and crude oil from Bonny Island.
Seriki reiterated the command’s dedication to upholding efficiency, transparency, and adherence to customs regulations. “In fulfilling our core mandate of revenue collection, we shall continue to ensure trade facilitation and compliance with customs regulations, while promoting efficiency and transparency in clearance procedures,” he assured.
Expressing gratitude, Seriki commended the Oil and Gas Free Trade Zone Authority and stakeholders for their cooperation and support in achieving this milestone.
He also praised the Comptroller General of Customs, Bashir Adeniyi, for his strategic leadership. “His exemplary guidance and visionary initiatives have been instrumental to our achievements,” Seriki added.
The achievement underscores the growing impact of strategic reforms and innovation within the Customs Service, reinforcing its role in fostering economic growth and regulatory compliance.
