PTML CUSTOMS RECORDS N46.850B REVENUE IN FIRST QUARTER, 2021

By Innocent Orok

Compt. Festus Okun during the briefing

To meet up the over N1.5Trillion revenue target assigned to the Nigeria Customs Service (NCS) in the 2021 fiscal year. The Port Terminal and Multipurpose Limited (PTML) Command of the Service has net in a total of N46,850,639, 870 as revenue from January to March 2021.

The 2021 figure has surpassed the 2020 collection with a surplus of N1,446,991,000.1, which amounts to 3.2% increase. The 2020 first quarter revenue generation by the Command was N45,403,648,869.90.

According to the revenue statistics released by the Command’s Public Relations Officer, Yakubu MA, in January this year, a total of N15, 205,823,545 was collected as against N16,456,582,954.22 collected in 2020.
In February, it realized N11,706,947,150 as against N13, 300,872,189.64 in 2020.
While, in March this year, the Command shoot up its revenue base by generating N19,937,869, 175 as against N15,646,193,773.04 collected in March 2020. The March collection has raised the revenue profile of the command in the first quarter of 2021 against last year by 3.2% increase.

The Customs Area Controller, Comptroller Festus Okun says the Command will double its revenue generation in the second quarter of the year as he expects more importation through the Command. He said his Officers will put in more efforts as already, all the revenue leakages have been blocked.

The PTML Command which is located at the Tin Can port area of Lagos State was built as a Roll – On- Roll- Off (RORO) port, which means is mostly Vehicles and other heavy equipment that are imported through the terminal.
At present vehicles importation through the Nigerian land borders still remains banned.