By Nathaniel Zaccheaus, Abuja
The Nigerian Customs Service on Thursday pledged before the Senate Committee on Customs, Tariffs, and Excise that it would generate N3.019 into the Federation Account in 2022.
The Comptroller General of the NCS, Colonel Hameed Ali (Rtd.), made the pledge when he appeared before the Senate Committee on Customs, Excise, and Tariff.
Ali said part of the NCS targets included N2.019trn from the Federation; N253.23bn from the non- federation and N746.96bn from import Value Added Tax.
The National Assembly had set a revenue target of N1.465trn for the revenue-generation tariffs agencies of the Federal Government this year.
The Customs boss who appeared before the Senate panel to present and defend the 2022 Budget of the NCS, said that when compared with the 2021 revenue target, the 2022 revenue target was higher by N965.42bn or 31.98 per cent.
Ali said the Service had proposed a budget expenditure of N369.14bn for the 2022 fiscal year which would be sourced from the 7 per cent cost of collection for 2022 estimated at N151.84bn.
He also said the agency hoped to rake in N60.12 bn being 60 per cent CISS.
He said the 2 percent VAT share of NCS would amount to N14 94bn, while he put the retained Income at N114.3bn.
He put the agency’s share of the excess target (2021) at N27.85bn.
The NCS had proposed a budget expenditure of N242.45bn for the 2021 fiscal year.
Ali explained that the expected income included, Personnel cost, was N108.85bn, representing 29.49 per cent and overhead cost of N45.89bn, representing 12.43 per cent.
He also said the agency had proposed N214.30bn as Capital Cost, representing 58.08 per cent with a grand total of N369.04bn representing 100.00 per cent.
When asked if the targeted revenue could be pushed beyond N3.1trn, the NCS boss advised against what he described as over ambitious targeting against the backdrop that the one set for 2022 was already on the high side in order not to cripple the economy.
The Chairman of the Senate Committee on Customs, Excise and Tariff, Senator Francis Alimikhena, took a swipe at the continued complaints of the non functioning of scanners by customs.
Bingham university inducts 48 medical graduates, commissions new hostels
He warned that the excuses must be urgently addressed in order to enhance the revenue drive for the country, adding that national assets must not be allowed to waste away.
Alimikhena urged the NCS boss to ensure the the 2023 budget of the revenue Generating Agency gets to the National Assembly latest end of October 2022.
He said this would enable his panel io facilitate early passage before the end of December 2022.
He said, “The Nigeria budget circle is January to December. Customs should key into this circle, late submission of budget will no longer be entertained.
“The 2023 budget should reach the National Assembly latest end of October 2022 so as to facilitate early passage before the end of December 2022.
