Low Importation: Apapa Customs Loses N11bn Revenue In

Low Importation: Apapa Customs Loses N11bn Revenue In
By Patrick Aigbokhan
A recent figure of revenue generated by the Apapa Area Command of the Nigerian Customs Service (NCS) has shown that the agency has lost a total of N11.1 billion in the first quarter of 2017.
This is a shortfall resulting from N77.4 billion it generated against its quarterly revenue target of N88.5 billion.
Nkiruka Nwala, Public Relations Officer, NCS, Apapa Command, said in a statement that the revenue collected within the period surpassed the revenue collected in the corresponding period of 2016.
The command generated the sum of N61.7billion in the first quarter of 2016.
From the breakdown of revenue generated by the command within the first quarter of 2017, N25.9billion was collected in January; N24.7billion in February, while N26.7billion was generated in March.
The command blamed the shortfall on its inability to meet its target due to the general economic downturn.
The downturn is said to have stifled importation, thereby resulting to the prevailing misfortunes in the agency and other similar arms of the economy.