The Apapa Area Command of the Nigerian Customs proudly announced on Monday that it had generated a record N17.9 billion in revenue in a single day.
Babatunde Olomu, who was appointed as the Area Comptroller about a month ago, expressed his commitment to maintaining high revenue generation within the command.
“The feat marks the beginning of many more revenue collection exploits, trade facilitation, and anti-smuggling exploits to be achieved in the course of discharging our statutory responsibilities,” he said.
However, it remains unclear whether the substantial revenue was generated solely through import duties or if it included additional fees imposed on importers. Importers frequently complain about high duties and excessive clearing fees, which contribute to the elevated costs of imported goods, especially food items.
Despite repeated calls from importers and business analysts for the federal government to reduce import duties and taxes on imported goods, these pleas have largely been ignored.
This achievement comes at a time when Nigerians are grappling with severe economic hardships due to high inflation and rising food prices.
Nigeria’s inflation rate soared to 33.95% in May 2024, approaching the highest rate in the country’s history. Coupled with foreign exchange challenges and ongoing insecurity, this has led to significant increases in food prices, exacerbating the economic burden on Nigerians.
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