Customs lose N551.3bn in six months
Abdulwahab Isa Abuja
T
he Nigeria Customs Service (NCS) lost N551.3 billion revenue in the first half of the year,
New Telegraph has learnt. The summary of revenue figure exclusively obtained by New Telegraph revealed that the Service
generated N385.7 billion revenue from January to June this year, whereas the revenue target for the first six months was N937
billion. This was against the N438.2 billion generated in the same period in 2015. The amount raked into
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the federation coffers for six months under review (January to June), comprises levies generated from excise duty, import duty, the Valued Added Tax (VAT) and the Nego-
tiable Duty Credit Certificate (NDCC), wheat grain levy, 20 per cent charged on wine levy, 30 per cent textile levy, 60 per cent charge on rice levy and 100 CONTINUED ON PAGE 10
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