Senate Approves N369.04bn Budget For Customs in 2022
…Gives Agency N3.019tr Revenue Target
The Senate, on
Wednesday, April 13, 2022 approved the sum of N369.04 billion Naira for the Nigeria
Customs Service (NCS) 2022 Budget.
Just as the
Chamber has also pegged the sum of N3, 019, 133, 200, 308:00 as revenue target
for the Service in 2022.
The approval of
the estimates followed the consideration of the Bill’s report presented by the
Committee on Customs, Excise and Tariffs.
The report was
laid and presented by the Committee Chairman, Sen. Francis Alimikhena (Edo
while presenting the report said out of the total expenditure of N369.04
Billion Naira approved for the NCS in 2022, the sum of N108.85 Billion Naira is
for Personnel Cost; N45.89 Billion Naira for Overhead Cost; and N214.30 Billion
Naira is for Capital projects.
Highlighting the NCS 2022 budget, the
lawmaker explained that the Service would in 2022 implement the E-Customs Project
to include the Automation of Customs Agency Licenses and Vehicle Identification
He added that
the NCS in collaboration with relevant government agencies would pursue
improved internally generated revenue by implementing the 2021 Finance
the lawmaker, the Excise Duty of 6 percent on telecommunication services and
N10 per litre on carbonated drinks is expected to commence fully in the 2022
Out of the
N3.019 trillion revenue target, Import Duty of N1,693,157,559,312.00; Excise
Duty N161,695,617,629.00; and N3,717,140,635.00 on Fees and Penalties are
expected to be remitted to the Federation Account.
to the Federation Account include CET Levy - N70,178,545,176.00; Wheat Flour
levy - N837,418,335.00; Wheat Grain levy - N87,450,026,612.00; 100% Rice
levy - N15,070,518.00; and 100% Cigarette levy - N1,888,165,554.00.
accruing to the Non-Federation Account are 7% Surcharge - N76,175,498,801.00; 5%
Sugar levy - N12,919,481,337.00; 1% CISS - N100,202,094,260.00; 0.5% ETLS
- N52,411,346,601.00; 10% Iron/Steel levy - N1,038,736,773.00; Cement levy -
N1,108,340,373.00; NESS - N2,797,028,658.00; 35% Automotive levy -
N6,576,520,172.00; and Import VAT - N746,964,607,563.00.
Dr. Ezrel Tabiowo, FAI, FIMC, CMC, FCP, Fsca
Special Assistant (Press)
To President of the Senate
Wednesday, April 13, 2022